Cost-of-Living Crisis Unleashes New Generation of Female Entrepreneurs

• The gender split of British microbusiness founders in the last 12 months is 46% female vs 53% male, a much narrower gap than microbusiness owners in general (38% female vs 60% male)
• The shift could be due to flexible working patterns and the normalisation of working from home, GoDaddy experts believe
• But obstacles remain to female entrepreneurship as 82% are still responsible for domestic chores and 44% see childcare as a barrier
• GoDaddy salutes ‘Unstoppable Women in Business' ahead of International Women's Day 2023

LONDON, UK / ACCESSWIRE / March 17, 2023 / The proportion of British microbusinesses owned by women has surged during the cost-of-living crisis and since the start of the pandemic, new data from GoDaddy shows.

Research conducted among microbusiness owners* shows that, in general, the gender split is 38% female, 60% male and 2% non-binary. But in businesses that have launched since 2020, the split is 47% female vs 52% male, and in businesses created in the past 12 months it's 46% female vs 53% male.

However, GoDaddy's ‘Unstoppable Women' study also shows that female founders face different challenges from their male counterparts.

While 78% of female entrepreneurs believe there are more opportunities for women owning a business rather than working for someone else, many still contend with pressures outside of work. Over four fifths of female business owners (82%) say they are responsible for most domestic household duties, while 44% say the costs and expectations associated with childcare are a barrier to female entrepreneurship. Almost half (46%) of the respondents to the GoDaddy survey said they have children under 18.

In general, set-up costs (52%) and time commitments (48%) were highlighted as the biggest obstacles to women starting a business, despite 72% of female founders creating their business for under £1,000.

One female entrepreneur who has overcome challenging circumstances to set-up a thriving microbusiness is GoDaddy customer, Catherine Sweet, founder of Bobcat Gallery.

She says: "Caring responsibilities towards members of my family held me back from starting my own business for a long time. I was always passionate about making art buying more inclusive and affordable while showcasing emerging artists, but while being a carer I could never find the time, resources or mental space. When my situation changed and my former employer went through a restructure, I decided to take a leap of faith and follow my dream. Working with GoDaddy, I was able to easily launch the Bobcat Gallery website, which has enabled me to grow my business and establish credibility in the art world."