Huge Talent Drought in Business World as Women and Over 50s Shun Entrepreneurship

A huge wealth of experience and skills is being lost as 36% fewer women than men plan to start up their own business, with only 30% of women self-identifying as having an entrepreneurial mind-set compared to half of men, according to a study by business services provider, Expert Market.

Creating a business also becomes less appealing with age, with over-fifties three times less likely to embark on their own venture than the under-thirties

An Expert Market spokesperson said: “For a lot of people the idea of having their own business is connected with too many possibilities of failure, rather than success. However this is a huge shame as both women and the older generation offer a huge wealth of talent and experience which would be hugely beneficial to start ups.

“We would like to see more support for women and the over-50s to help ensure that entrepreneurship is not just the preserve of young men. The whole business sector can benefit from multiple skill sets, areas of knowledge and ideas.”

For many the reasons for not wanting their own company were the same; not having enough access to money, being unsure about the economy and having too great a fear of failure.
Interestingly, the study found many more men than women self-identified as being risk takers.

Hanna Mansson, 27, from London said: “Whilst having my own business would be amazing in many ways, I feel that with the risk involved and knowledge required it does not weigh up the benefits of a standard job at this moment in time. Having said that, if I had a business idea that I was really passionate about I think I would feel differently.”

The Expert Market spokesperson continued: “Interestingly the survey also showed that while, for men, the driving force for setting up a business is being their own boss and earning more money, for many women their priorities were being able to turn a passion into work, and the ability to be more creative.

“It is clear, that with more focused support we can get both groups interested in entrepreneurship and the economy thriving again.”

Lima Curtis writes about matters of business and energy for various sites including www.expertmarket.co.uk

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