Subscribe to our newsletter to receive business tips, learn about new funding programmes, join upcoming events, take e-learning courses, and more.
Take the first step to successfully starting and growing your business.
Join for free)
Posted: Tue 23rd Jul 2024
Females in Scotland are starting and running new businesses at virtually the same rate as men for the first time.
Analysis as part of the Global Entrepreneurship Monitor, an annual study of entrepreneurial activity, found that 8.6% of working-age women in Scotland were setting up or running a business in 2023, compared to 9.8% of men, a difference which the study said is "not statistically significant".
In 2022, the figures were 7.2% of women and 10.5% of men.
The report, by the universities of Edinburgh, Glasgow and Strathclyde, also recorded a new entrepreneurship high of 24.1% amongst Scotland's non-white population.
Overall, an estimated total of around 300,000 people in Scotland were engaged in entrepreneurial activity in 2023.
Dr Samuel Mwaura, from the University of Edinburgh Business School, said:
"The two major developments in 2023 are the record high rates for non-white individuals and women, reflecting a growing diversity amongst the countries business community.
"Effectively, of the 300,000 or so early-stage entrepreneurs setting up a business in Scotland in 2023, roughly half were women. This is a landmark moment of significant consequence for female entrepreneurship discourse and policy in this country."
The report said that fear of failure is "a significant barrier to entrepreneurial activity in Scotland". Although a third of Scots said their area has good start-up opportunities, more than 60% admitted that a fear of failure would prevent them from setting up a business.
The survey rated 12 out of 13 conditions for entrepreneurialism in Scotland as "barely satisfactory". They included entrepreneurial education in school, ease of financing, government policies and research and development transfer.
Professor Stathis Tapinos, from Strathclyde Business School at the University of Strathclyde, said:
"While Scotland reached new milestones with female and minority ethnic early-stage entrepreneurial activity, concerns remain around rates of established business, fear of failure, and the general context for entrepreneurship in Scotland with worrying evaluations by the expert panel.
"Understanding these and other issues related to entrepreneurial attitudes, perceptions and activity in the country is important for policy and practice as entrepreneurship has important implications for the economy and many societal dynamics."
Visit the StartUp UK hub for resources that give you the education and inspiration to get started on your entrepreneurial journey.
