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March 8, 2022

IWD 2022: women in business statistics show inequality prevails

By Patrick Brusnahan

One in three (32%) female entrepreneurs have experience sexism as a business owner, while one in five (19%) have also experienced gender inequality. This includes unequal access to opportunities. The statistics for women in business show that there is a long road ahead before equality in the sector.

This is according to a study by Simply Business. It also found that 91% of female entrepreneurs say gender bias and inequality is prevalent in business. A third descried it as “widespread” or “severe”.

Over a fifth (22%) have faced investors, colleagues or customers making quick assumptions about them or underestimating them.

In addition, one in five (20%) don’t feel they taken seriously in their sector and 15% feel they don’t have a loud enough voice.

Overall, this meant that 25% of female entrepreneurs struggle with confidence in business. The statistics regarding women in business are very clear regarding this.

Baroness Karren Brady CBE, ambassador for Simply Business, commented: “The level of gender bias and inequality within business, particularly within the small business landscape, is astounding. Sexism and bias, whether conscious or unconscious, will erode confidence over time and lead to unequal opportunities. It’s vital we challenge sexism and bias, and equip female entrepreneurs with the tools, access and confidence to overcome these obstacles. We need to inspire women into business, not bring them down.”

Women in business statistics could change

Things are changing, however. 45% of female entrepreneurs feel more people overall need to call out gender bias or inequality as it happens.

In addition, 43% are calling for greater exposure an education on the issue, for all people in business regardless of gender. 39% stated that unconscious gender bias training through all businesses is needed, as well as more equal benefits.

Despite the struggles, 96% of female entrepreneurs would recommend starting a business to other women. Within this, 32% continue to describe it as rewarding.

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