Women in business

The power of female entrepreneurship

Savanta’s UK Business Tracker reveals that an impressive 60% of female respondents are at the helm of their own businesses or operate as sole traders, predominantly in sectors like education, healthcare & social care, arts & entertainment, professional services, and retail. Largely domestically focused (77%), these businesses, often less than ten years old (59%), demonstrate the remarkable entrepreneurial spirit of women.

Facing the challenges

Running a business isn’t without its challenges. For many women-led businesses (34%), remaining profitable is a significant concern, exacerbated by the ongoing impact of the Covid pandemic and the cost-of-living crisis. With a quarter (25%) anticipating a business and industry sector decline over the next year, the path to success for women is undeniably complex.

Calling for support

Rising business costs, the cost-of-living crisis, and a drop in customer demand are weighing heavily. Many female business decision-makers feel that both the Government (60%) and the Bank of England (47%) could do more to help their business mitigate these challenges.

Is AI the solution? For female business leaders, perhaps not

Artificial Intelligence (AI) has transformed the business landscape, but women’s views on AI — and whether it represents an opportunity or a threat — are equally split.

Nearly half (47%) see AI as a game-changer, with 19% already having adopted AI in their operations and another 39% considering it.

However, protecting their employees remains paramount for female business decision-makers. Just under half (44%) say they wouldn’t use AI to replace human roles (vs. 32% of their male counterparts).

Leading the way forward

Our Business Tracker shows that women in business are demonstrating incredible resilience and innovation, navigating an ever-changing landscape with a unique, human-centric approach. Their diverse perspectives are not just beneficial, but essential for a balanced and inclusive future.

The question is, how is your business embracing and leveraging these invaluable insights in decision-making?

As we look to the future, it’s crucial to recognise and learn from the leadership of women in business.

Are you ready to explore how you can integrate these insights into your business strategy? Connect with us at Savanta. Let’s champion the strength of women in business together.

About the Savanta Business tracker

Our monthly (UK) and quarterly trackers (Europe) monitor the recovery, resilience and adaption of businesses. Whether you want to understand the latest pressures and challenges impacting businesses on a regular basis or just ask a couple of questions to support your decision-making, our monthly tracker provides a timely and cost-effective approach!

To find out more contact our dedicated team of B2B experts. 

Further reading:

• AI: what do early-adopter businesses think?
• Business deposits: a new opportunity for GB businesses?