More women go it alone to set up their dream business

Women across the UK are setting up more businesses than last year with 38,100 businesses started in the first six months of this year, up nine per cent on the same period last year (34,600), according to the latest small business research from Barclays.
In three regions across the country, the East Midlands, London and Yorkshire, the growth in start ups by women overtook those of men. In the East Midlands the growth for men was 8 per cent compared to 11 per cent for women; Yorkshire 16 per cent for men and 23 per cent for women and finally London 10 per cent for men compared to 16 per cent for women.

Across England & Wales the number of businesses set up by both sexes in the first six months of 2006 increased by 10 per cent on the same period in 2005, rising from 183,800 to 205,000.

John Davis, marketing director for Barclays Local Business says, “Start-ups remain buoyant this year and it’s clear that in many areas women are taking the lead and demonstrating how much they can contribute towards the business sector and the UK economy as a whole. Business start ups such as property services, which include interior design and property development, offer increasing flexibility and are proving very popular with women who are often juggling careers and family commitments. Also in the 21st century there are a lot fewer barriers to entry for women and they are taking advantage. I am sure in a few years time, that in some areas of the market, more businesses will be started by women than men.”

Other key highlights – number of businesses set up in the first six months of 2006:
The sectors which saw the greatest percentage increase in start-up volumes were the motor trades, wholesale and retail sector which increased by 15 per cent with 36,300 businesses compared to 30,700 last year. Property services increased by 15 per cent with 12,500 businesses compared to 10,600 last year.

Regionally, in absolute numbers London led the way in the national rankings of business start-ups with 44,000 businesses set up. Outside London, the top regions for attracting new business start-ups were the South East with 32,000 and North West with 26,000.

Across England & Wales 140,300 businesses were started by men, compared to 38,100 by women and 26,600 with some participation from both genders.

People with business ideas can find out how to set up in business by attending Barclays free start up events across the country - ‘Lets Talk Business Ideas’ and Let’s Talk Starting in Business’. The ‘Ideas’ event will look at how viable the business is, what are the potential problems and rewards and how to make it happen. The ‘Starting in Business’ events are for people who are about to set up and will cover how to write a good business plan, sourcing finance, managing cash flow, legal requirements, taxation and VAT and marketing. People can find out more by visiting Barclays business seminars

Contact Barclays:
Barclays business banking
Emma Austin
0207 116 6145
Emma.austin@barclays.com