Treasury Launches Investigation into Barriers Restricting Women in Business
The Treasury has recently launched a review into the barriers restricting women from actively taking part in business. The result of the research suggests that the women compared to men are less likely to be involved in initiating a business, and only a third of business entrepreneurs are female.
The review intends to look at all the possible options that can assist women in starting and growing a business by considering various drivers behind the disparity in female and male entrepreneurship, and steps that could help in reducing barriers to female participation with regards to business entrepreneurship. The review will also look to identify the nature and extent of the barriers to female entrepreneurship and will also explore the possible options to overcome the identified barriers.
Any disparity between male-led and female-led firms looking to obtain external finance as well as the factors driving it will also be looked into as part of the review.
The Chief Executive of RBS commercial and private banking, Alison Rose, will lead the barriers to female entrepreneurship review. The response to the findings of the review will be given by the government when the review report will be published in the spring.
Exchequer secretary to the Treasury, Robert Jenrick, said that Britain is home to so many new and innovative businesses, and that is something that we should be proud of. But the shocking part is that very few of them are started and led by women. This is not due to lack of ambition, talent or appetite.
He further said that it’s important that we identify the barriers that are restricting women from obtaining and sustaining backing which the businessmen have enjoyed for years.