What’s driving the surge in the number of women-led startups?

Hello and a warm welcome to the latest edition of We Are Mimosa, a fortnightly newsletter for female founders for whom values, and purpose are their strategic driving force.?????

According to the latest figures from the government-commissioned Rose Review, last year women established 151,603 companies, up by 6,332 on the previous year and outstripping male-led companies for a second year running. This week, we’re exploring why a record proportion of start-ups are being founded by women? What’s driving this surge??

The record number of women-led startups shouldn’t be surprising. During the pandemic, need and opportunity combined to fuel the explosion of entrepreneurship among women. As COVID-19 gripped the economy, women's labour force participation rate dipped to its lowest level since 1988 as female-dominated industries suffered the worst layoffs and mothers left their jobs to care for children stuck at home thanks to school and day care closures. For many women, launching a business was the best option available to regain control of their careers and bring in needed income, while maintaining the flexibility to care for loved ones during lockdown.?

Women also turned to becoming their own employer because they needed more flexible work hours and the ability to determine their own schedule. Nearly three in five female entrepreneurs named this as a top reason they set out on their own in 2020, while more than a quarter of female business owners with school-age children said they launched their company in 2021 because of increased care responsibilities.?

The pandemic was a reset for everyone. It allowed people to take a break from travel, engage with their families and maybe realize they'd been missing out on some things in their personal life. Some, who were working from home and called back, didn't want to return to an office, others liked spending more time at home with their children, and they began to think about how they could keep this flexible model by starting a business of their own.?

This growth in the number of women-led startups is all the more impressive, given the significant challenges that women entrepreneurs still face. Money is a big one - just 2.1% of venture capital funding went to women-led businesses in 2022, a rate that's remained little changed for years. Meanwhile, ingrained biases remain, well, ingrained: Research shows that female founders face significantly more pushback than men when it comes to their qualifications and technical expertise, despite the fact that their companies, according to a study by Boston Consulting Group, return 150%?more on average than businesses led by men.?

In the end, making that switch from employee to entrepreneur is ultimately a bet on yourself. In today's uncertain economy, if you have a great idea for a new business and it's your dream to launch it, there is, perhaps, no better bet to make.?

Here’s to the current and next group of151,603 women-led startups!?

Spotlight On Jacqueline Gold?

This week, our spotlight is on Jacqueline Gold, the executive chair of Ann Summers, who turned the sex shop into a safe space for women and was a powerful advocate for women in business.??

Jacqueline died on 16th March after seven years of treatment for breast cancer. She expanded Ann Summers from a firm with four backstreet shops into a multi-million pound business. She was made a CBE in 2016 for services to entrepreneurship, women in business and social enterprise.?

She remained active throughout her illness and into her final hours – just the day before leading her regular Twitter chat to promote female entrepreneurs.?

Listen: You can listen to Jacqueline on empowering women in the bedroom and the board room on the Holly Tucker podcast, Conversations of Inspiration.?

Women Protesters in Iran: The Flames of Protest Still Flicker

In this newsletter, we’ve been following protests which have swept across the Islamic Republic since the death of Mahsa Amini, 22, who died on 16 September after being detained by the Iran’s morality police for allegedly wearing her hijab "improperly".?

The mass protests have largely been quelled for now by brute force but the flames of protest still flicker below the surface. Protesters are regrouping, finding new ways of resisting and asking themselves if they’re prepared, like Mahsa Amini, to pay the ultimate price for freedom. ?

And Finally...?

Thank you so much for taking the time to read, comment and share this newsletter. This means the worls to me.

Wishing you all the very best for a successful Q2.?

Denyse?????

About The Author?????

I’m Denyse Whillier, and I was a Chief Executive for 8 years, I spent 25 years in senior management and leadership roles and trained at Cranfield School of Management. For examples of my work, check out my portfolio of case studies.??????

I made the leap from corporate to founding my boutique business consultancy and have worked with a wide range of small and medium sized businesses, many of which are purpose-led. My mission is to close the gender gap in business and make it easier for women to start, grow and scale a successful business without compromising their values.?????

An experienced and empathetic business advisor, I’m always happy to talk you through how I can help. Use this link to book a friendly (and free) chat at any time.?

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