Female Entrepreneurship in the 21 st Century: The Way Forward Conference

1. Female Entrepreneurship in the 21st Century: The Way Forward Conference Tuesday 26th September 2006 Dublin, Ireland Dinah Bennett Durham Business School UK

2. Why focus on women? • Economic imperative - “Expanding the involvement of women in entrepreneurship is critical for long-term economic growth” • Under-representation • Different Experience - different motivations/ less resources/ longer incubation

3. Introduction • Women’s enterprise development – UK context • Barriers • Women Into the Network (WIN) • Lessons

4. Some Facts • Participation of Women in Enterprise is significant and rising. • Women’s Businesses contribute to economic development and job creation • No country in the world where women are more entrepreneurially active than men. • Globally the participation of men starting businesses usually 50% higher than women

5. More women than before are in the labour force throughout their reproductive years, though obstacles with employment persist. • Women experience more unemployment than men and for a longer period of time than men. • Women remain at the lower end of a segregated labour market and continue to be concentrated in a few occupations, to hold positions of little or no authority and to receive less pay than men. • Available statistics are still far from providing a strong basis for assessing both quantitative and qualitative changes in women's employment.

6. UK Context • Women’s enterprise increasingly seen as important • Growth of women’s business ownership • The gender dimension to barriers recognised • A wide range of initiatives aimed at addressing these • 2003 Strategic Framework launched

7. Barriers • Access to finance • Care/domestic responsibilities • Lack of knowledge/training in business skills • Perceptual barriers of credibility

8. Women and their assets for business Abilities, skills and experience Motivation & Determination H Confidence S N Women F P Idea with a Market Resources Plan and Manage Index H – Human Assets N – Natural Assets S – Social Assets P – Physical Assets F – Financial Assets

9. Confidence and Social Capital • Confidence is: • A complex issue • Very personal • Not exclusively gender specific • A relative concept – e.g. business stage • Relating confidence and social capital

10. Social Capital Critical to Business • Successful entrepreneurship is about managing relationships with a range of stakeholders (Gibb) • Knowing who are the critical stakeholders in your network and why • What are these relationships & how are they maintained • Business Networking a critical vehicle for building social capital

11. Women Into the Network • When - Started in 1999 in the North East of England • Why - Low numbers of women in business and research showed 700 networks under utilised • Who - Potential and existing women in business & those who support • What - Relationship building through networking for women’s enterprise • 2000 women members regionally - 24000 nationally

12. WIN –multi layered activities • Events –from training workshops to lunches • Awards –annual event • Communications and Publications –website, newsletters, ezines • Role models – development & promotion • Sectoral initiatives • Research • Signposting • Dissemination

13. Theme - Make Networking Explicit • Developing understanding about Networks & networking – ‘I hate networking’ • Easy entry points • Rehearsal space • Women only or mixed ? • Conduit for support sector • Brokerage – ‘getting to know spaces’ • Lobbying for change to existing business networks

14. Mixed Perceptions & Expectations The banking research as a case study • Expectations • Women wanted bank to be more proactive and interested in their business. An important stakeholder. • Men merely saw the bank as a service provider • Bankers - access to their networks ……. but mechanisms & venues used by banks are often not appropriate • Training for women to better manage their bank managers & vice versa

15. Assumptions & Impressions Challenges for effective and trust based relationship building • Assumptions can close off areas of support. • Stereotyping - websites women = ‘socially excluded’ • Home based /portfolio business – diminutive • First impressions critical when transaction costs of getting to the meeting are high

16. Business support for women:issues for advisers • Knowing the customer base – catering for diverse needs • Recognition of needs of part-time businesses • Assistance from pre-pre start-up through to business growth • Accessible services – timing/ transport/ care/ ethnicity • Role models

17. Women Into the NetworkA Dynamic Model for Supporting Women’s Enterprise • Active support – partnership working, public, private & voluntary • First three years over 900 jobs created • European wide impact through EQUAL funded Accelerating Women’s Enterprise (AWE) Programme • Founding board member of PROWESS • Selected as UK Best Practice Model for Supporting Women’s Entrepreneurship • Awarded Flagship Status by PROWESS National Business Support Organisation for three consecutive years • Spinning out 3 UK Regions, Ireland, Croatia, Slovenia and South Africa • 2000 members regionally • 24,000 members nationally • Winner of CBI First Woman Corporate Award 2006

18. Dinah Bennett • www.womenintothenetwork.co.uk • Dinah.bennett@durham.ac.uk • +44 (0)191 334 5497