Women turn to entrepreneurship to better balance their work and personal lives

Longtime entrepreneurs are a minority among women. But as more and more women choose to launch their own enterprises, this is no longer the case. In the UK, where women entrepreneurs are choosing independence in order to better combine their career and familial life, this tendency is especially apparent.

The statistics are conclusive: According to statistics provided by trade organisation Small Business Britain and quoted by The Independent, more than 150,000 firms were founded by British women in 2022. That is a doubling from 2018. Given that many women had extra difficulties during the Covid-19 epidemic, especially with relation to childcare, this rise in the incidence of female entrepreneurship is all the more noteworthy.

However, these particular circumstances have only heightened their desire to launch their own company. 39% of the British women business owners polled by Small Business Britain stated they became independent to achieve a better work-life balance. A surprise decision considering that starting a company sometimes requires hard work hours that are not conducive to family life. A 2009 Gallup Institute study found that 49% of Americans with small businesses work at least 44 hours each week. It may be challenging to maintain your social and family obligations at that pace.

But few women who want to start their own businesses find it to be a deterrent. Those mothers who choose to do this are referred to as “mompreneurs.” In her book “Sociologie des Mompreneurs” [The sociology of Mompreneurs] (Presses Universitaires du Septentrion, 2019), French sociologist Julie Landour describes how many people who identify as mompreneurs claim that working for oneself enables them to better care for their family. This is mostly due to the widespread growth of remote employment, which ostensibly enables these people to manage their time more effectively.

Numerous challenges

One of the biggest motivations for female entrepreneurs to start their own businesses is the desire for increased freedom. Three out of ten British women claim they started their own business because they wanted to work from home, while 25% said they did so after having a kid or children. Michelle Ovens, the creator of Small Business Britain, is thrilled to see so many women making the leap into business, regardless of the motivation behind their choice. She told The Independent, “It is encouraging to learn that most women are happy for taking the leap into business and are reaping tremendous rewards in their life.

Of course, becoming an entrepreneur has its obstacles, especially for women. Whether it be in the form of bank loans or other private sources of funding, they often struggle with a shortage of financial resources. This might, among other things, result in the underperformance of companies founded by women, supporting the gender stereotype that business is, by nature, a more male activity. Women’s business aspirations might also be hampered by obstacles such as a lack of legitimacy and networking difficulties. To ensure everyone has access to entrepreneurial freedom, it is crucial that decision-makers and governmental authorities address these concerns.