Female and minority entrepreneurship

Flashcards about Female and Minority entrepreneurship.

What are the aims of this lecture?

To identify the characteristics of female entrepreneurs and their contribution to the economy. To understand the additional barriers faced by women in raising finance. To explain the role of government policies in supporting female and minority entrepreneurship. To discuss the diversity in entrepreneurship including Asian, Chinese and African-Caribbean entrepreneurs in the UK.

What are the reasons for fewer female entrepreneurs and their business challenges?

Lower confidence, higher levels of fear of failure, type of business, family responsibilities, lack of management skills, difficulty accessing finance, traditional business and non-business networks geared towards men, few female entrepreneurial role models, and few women in technology.

How did Laura Ashley become a well-known female entrepreneur?

She established an international retailing and manufacturing group from her base in mid Wales and based her business on her fundamental philosophies, wanting everyone to enjoy her style of dressing and home furnishings.

What is the trend of female entrepreneurship in the UK?

Women account for less than a third of those in self-employment but over half the increase in self-employment since the 2008 recession.

According to the Global Entrepreneurship Monitor (GEM) 2023/4 Women’s Entrepreneurship Report, what increase was found in women starting new businesses?

The percentage of women starting new businesses increased from 10.9% to 13.8%.

What factors contribute to lower female self-employment rates?

Lower female self-employment rates may reflect sectoral distribution, problems in raising finance, and other responsibilities such as childcare.

What is one of the major hurdles for women in starting a business?

Acquiring resources, particularly finance, is a major hurdle for women starting a business.

What are some common preconceptions about women in business?

They may think women can’t, won’t, or do not seek or win outside funding because they do not aspire to high growth, and women choose small, locally focused businesses in low-tech industries that are not scalable.

What difficulties do women face when starting a business?

Access to finance, unfavourable business regulations, cultural barriers, educational and occupational segregation, choice of business types and sectors, information and training gaps, lack of contacts and access to social support and networking, and competing demands on time.

According to Brush et al (2004), what are the reasons given by women for starting a business?

Learning and personal achievement, flexibility, and economic reasons.

According to the Global Entrepreneurship Monitor, what are some characteristics of female entrepreneurs?

Women have lower capabilities perceptions than men and have a greater fear of failure.

What is the goal of the Rose Review?

The Rose Review's goal is to unlock the £250 billion of new value that could be added to the UK economy if women started and scaled new businesses at the same rate as men.

What did the Rose Review 2022 find regarding new companies founded by women in the UK?

Women founded a record number of new companies in the UK in 2022, with more than 150,000 enterprises created by women, more than twice the number of 2018.

What describes the drop in the number of women registering patents?

The drop in the number of women is described as the ‘leaky pipeline’ and shows the low number registering patents.

What are Laura Tenison's achievements with JoJo Maman Bebe?

She won the Veuve Cliquot Business Woman of the Year in 2010 and was awarded an MBE for service to business in 2004 for her success in founding and growing JoJo Maman Bebe.

What contribution do female entrepreneurs make to the economy?

Reasons given by the EU for promoting female entrepreneurship include them being a source of ‘economic growth and new jobs’ and the barriers they face setting up and running a business must be tackled.

Who is Denise Coates and what is she known for?

She founded Bet365 and in the year up to March 2024 earned a salary of £158 million. She saw that the future of betting would be online and bought the name Bet365.

Besides economic contribution, what social and cultural contribution do Ethnic Minority Businesses (EMBs) make?

Providing employment to marginalised groups excluded from the labour market.

How are minority entrepreneurs grouped?

Some ethnic groups are concentrated in particular sectors, ethnic minority businesses also tend to concentrate on supplying minority businesses and often trade with their own ethnic groups.

How was Cobra Beer developed?

Cobra Beer was founded by Karan Bilimora who identified a niche market and concentrated on developing the brand and priced the beer at the top end of the market.

What is the general conclusion regarding previously under-represented groups?

There is a greater understanding of some of the hurdles that they may face in trying to set up their own business.