Wednesday, June 5, 2013

WBC & Government Equalities Office Publish Report on 'Maximising Women's Contribution to Future Economic Growth'


The Women's Business Council (WBC) supported by Government Equalities Office has published Maximising Women's Contribution to Future Economic Growth, a new report on how to make the most of women's contribution to economic growth through all stages of their careers. The Women's Organisation were interested in the suggestions made and wanted to share some key elements within the report.

The report finds that there are currently 2.4 million women in the UK who are not working and want to work, and over 1.3 million women who want to increase the number of hours they work. The WBC argues that by equalising the labour force participation rates of men and women, the UK could further increase GDP per capita growth by 0.5 percentage points per year, with potential gains of 10% of GDP by 2030.

"The WBC makes a series of recommendations in the following areas:

  • The urgent need to broaden girls' aspirations and career choices.
  • The need for business culture to embrace the benefits of flexible working and support for working parents.
  • The potential and opportunity for economic growth of women in the third phase of their working lives.
  • The enormous untapped potential in women's entrepreneurialism.

The report's recommendations are addressed to both Government and business, and cover women's opportunities at all stages of their working lives.

Enterprise

There is enormous potential in women’s untapped entrepreneurialism, and a strong case for providing more support for women who want to set up their own businesses

Enterprise is vital for economic growth, national competitiveness and innovation. If women were setting up and running new businesses at the same rate as men, we could have an extra one million female entrepreneurs. They are currently only half as likely to do this, and they and the economy pay the price."

The report has made several recommendations for action in this area.
The key ones are:

1.     "Business should utilise the British Chambers of Commerce women’s business networks and support joint working between schools and organisations like Everywoman, to promote an industry-led approach that will raise girls’ awareness of enterprise as a career opportunity."

2.    "Financial institutions should ensure they market their services to women who want to set up their own business."

3.     "Government should broaden its messages on what an enterprise is and ensure inclusive marketing of support services, in recognition of the differences between male and female entrepreneurs."

 

 
If you are a woman in the Merseyside area looking to take on board some of these suggestions and utilise networks and support for women entrepreneurs and budding business women then please contact The Women's Organisation on 0151 706 8111 or info@thewo.org.uk

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