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Breaking down barriers to entrepreneurship for women

Posted: 15 Nov 2019
Estimated Read Time: in 10 minutes

Encouraging Women into Franchising (EWIF) on how franchising answers some of the issues female entrepreneurs face

Breaking down barriers to entrepreneurship for women

The Rose Report, a government-commissioned review of female entrepreneurship, found three separate but reinforcing cultural barriers affecting women at all stages of the entrepreneurial journey. Here we show why EWIF believes that franchising is the key to overcoming these three barriers, opening entrepreneurship up to greater numbers of women.

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The Rose Report, led by Alison Rose, Deputy CEO of NatWest Holdings and CEO, Commercial & Private Banking, looked at the numbers of women who had started a business in the UK, compared to four peer countries: Australia, Canada, the Netherlands and the USA. It revealed that fewer UK women choose to become entrepreneurs, with only six per cent of UK women running their own businesses, compared to 15 per cent in Canada, 11 per cent in the US and over nine per cent in Australia and the Netherlands. Here, Encouraging Women into Franchising discusses how franchising can help change this. The Rose Report, led by Alison Rose, Deputy CEO of NatWest Holdings and CEO, Commercial & Private Banking, looked at the numbers of women who had started a business in the UK, compared to four peer countries: Australia, Canada, the Netherlands and the USA. It revealed that fewer UK women choose to become entrepreneurs, with only six per cent of UK women running their own businesses, compared to 15 per cent in Canada, 11 per cent in the US and over nine per cent in Australia and the Netherlands. Here, Encouraging Women into Franchising discusses how franchising can help change this.

BARRIER 1
Women typically have higher risk awareness than men and are more cautious about starting or scaling a business. Women were 55 per cent more likely than men to cite fear of going it alone as a primary reason for not starting a business.

SOLUTION
Franchising reduces the risk of business ownership, as you are not running it alone. You become part of a network of business owners, under the umbrella of the franchise brand. Franchisors create regular networking opportunities and alongside this, franchisors have all the experience, resources and training to support you as you build your own successful business.

BARRIER 2
Women are less likely to believe they possess entrepreneurial skills, with only 39 per cent confident in their capabilities to start a business, compared to 55 per cent of men. This is a perceived gap in ability, rather than an actual gap in skill sets.

SOLUTION
Franchising connects your skills with the experience of the franchisor. Where you may feel you are lacking in knowledge or experience, your franchisor will be able to support you. Training is included as part of the franchise fee, covering everything from running a business, to how to operate the franchise brand you are joining.

BARRIER 3
Women are less likely than men to know other entrepreneurs or to have access to sponsors, mentors or professional support networks. While 31 per cent of women surveyed highlighted the importance of networking as a business skill, compared to 21 per cent of men, only 30 per cent of women said they already knew an entrepreneur versus 38 per cent for men.

SOLUTION
You join a network of entrepreneurs who, like you, have stepped into the world of business ownership. Many franchisors will pair up their new starters with someone within the network to mentor and support them through the process. And the whole network is there to support you at any and every stage of your business growth.

EWIF’s aim is to raise the awareness of franchising to help more women realise their own ambitions for career success. To talk to EWIF for more advice, including to request a free 30-minute telephone mentoring session, email info@ewif.org.

For more on #WomenInFranchising, click here.

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