Women are an important but underrepresented economic force in London, according to research out today from the London Development Agency and Business Link for London.
Figures show that one in 10 London businesses are currently owned by women. They employ an estimated 186,254 people across 33,429 businesses, accounting for 6.8 per cent of private sector employment in the capital. A further 21 per cent of London’s businesses are run by women in either a half or one-third business partnership with a man.
Says Mayor of London, Ken Livingstone: “Since women make up such a significant proportion of London’s workforce, we must ensure that businesses owned by women and London’s working women receive all the support they need.
“In particular, the focus must be on providing flexible training and development so that businesses owned by women retain an up-to-date skills base for business in a 21st century London.”
Says Judith Rutherford, chief executive of Business Link for London: “Although women are an important force within the capital’s enterprise, they are still underrepresented amongst business owners in London.
“We have been working with the LDA to ensure that women in London are aware of self-employment and start-up opportunities as an alternative to mainstream employment. Last year 23 per cent of the businesses that we helped were classed as ‘women-owned’. We will continue to work with the LDA to build on this momentum and hope to see its impact in next year’s London Annual Business Survey findings.”
