According to a new study, the percentage of small commercial property businesses that are run by women in the UK has risen sharply from 20.13 per cent to 30.22 per cent since 2008.
This represents a huge increase in the number of women starting their own commercial property businesses or taking on the running of existing commercial property enterprises in the face of the worst economic downturn since the Great Depression in the 1930’s. The research, conducted by XLN Businesses Services, looked at the gender of the business owner behind more than 100,000 XLN small commercial property business telephone and card processing customers across the UK.
The timing of the increase suggests redundancies and the difficulty of getting the right job during the recession may be giving women the drive they need to start up a commercial property business for themselves. The option of flexible working conditions are also a big pull for women, as they can work from home, put together their own schedule and, if mothers, fit work around childcare duties.
Another reason may be the types of commercial property businesses that women start. With a large percentage of households in the UK having access to the internet, and little or no start-up costs, setting up a commercial property business from home and never been easier. This gives an advantage to women looking to start out as web designers, mobile hairdressers, beauticians and accountants compared with traditionally male dominated areas that require expensive premises-mechanics, manufacturers, etc.
Entrepreneur Catherine Longton, who runs specialist commercial property book shop Moorland Books in Oldham, said: “Women are setting up their own businesses now because they want more flexibility.”
She further added: “Many women want to manage work and home life easily so running businesses from home and going into partnerships with likeminded women means they can get a better work/life balance. An economic downturn can be a good time to take the plunge, as there is more availability of vacant premises and landlords prepared to be more flexible. If you can survive the downturn, your business will be thriving in the better times!”
New support and guidance may also be responsible for this increase in female commercial property business owners. Vince Cable, Business Secretary has stated that the Government has 20 consultants for commercial property SMEs and three quarters of those are female.
What’s more, websites and women in business groups have sprung up all over the internet to give mentoring and guidance to women on issues regarding the start-up of a commercial property business. For example, groups like Women Unlimited and everywoman (which are businesses in themselves) and charities like The Prince’s Trust.
Interestingly, 10 years ago, the least active area in the UK for new and existing businesswomen was the North West of England. New figures from XLN business services show that female commercial property business owners in the North West have increased from 13 per cent in 2009 to 18 per cent in 2012.
