Thursday, December 26, 2024

Women in Business, Gender Bias and Workplace Inequality

According to data from Simply Business, it has been revealed that less than 30% of UK small businesses are owned by women.

Moreover, in a survey of over 900 female business owners, feedback was gathered pertaining to the specific challenges that women face in the workplace.

Perhaps most stark – albeit unfortunately unsurprising – is that 81% of survey respondents reported that they have experienced sexism, gender inequality and unequal opportunities.

92% of all respondents have called on the government to do more to redress the differences in the way that women and men are treated in the workplace.

Specifically, improved childcare support, access to government-sponsored funding, and better opportunities for mentoring and networking have all been cited as areas that need urgent attention.

Women in Business Survey Results

In addition to the above, the survey uncovered that:

  • 47% of respondents believe there is a need to call out gender bias and inequality when it happens
  • 46% of respondents believe that more education around the impact of gender bias is needed urgently
  • 39% of respondents remarked that investors, colleagues, and customers alike typically make quick assumptions about women or underestimate their capabilities when compared to male counterparts
  • 33% of respondents believe the issue of gender bias and inequality in the workplace is ‘severe’
  • 28% of respondents reported that they are not taken as seriously as men when pitching
  • 28% of respondents feel that they’ve been penalised for having children, as following childbirth they’ve not been afforded the same opportunities as men at a similar level

In response to the survey’s findings, Baroness Karen Brady highlights the need for immediate action.

“The level of gender bias and inequality within the small business sector revealed, is quite frankly astonishing. 

“Sexism and bias, whether conscious or unconscious, must be called out for a genuine chance of equality in business.

“The economy needs the support of small businesses in the UK and we must inspire women to get into business, and help abolish the challenges they face daily.”

Small businesses access unsecured, fast funding from Got Capital. As an alternative lender, Got Capital offers financing solutions specifically designed for and catered to the needs of SMEs.

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