Women in Business CEO supports UK report that warns of “catastrophic economic impact” if Government policy fails to support women’s enterprise

Developed by The Women’s Enterprise Policy Group (WEPG) a national coalition of leading female entrepreneurs, researchers, business support providers and social entrepreneurs from across the UK, the report offers a stark warning that women face a tsunami of job losses and business closures, unless Government develops enterprise policy that is productive and fair for women.

Northern Ireland WEPG representative, Roseann Kelly MBE, Chief Executive of Women in Business (WIB) said: “I am delighted to be part of WEPG and support the launch of this report which offers valuable insights and outlines how current policies have failed to reflect the extra challenges that female entrepreneurs and business women face - including childcare responsibilities, gender bias and access to finance – and how the Government has failed to introduce measures to facilitate their survival and growth.

“Women play a vital role in business as revealed earlier this year by PWC’s Women in Work Index Report. The Index, which highlighted that women’s contribution to the economy is invaluable, demonstrated that Northern Ireland has risen to second place within the UK, highlighting the improved position of women in the economy. I am urging the NI Executive to acknowledge women’s valuable contribution and to give female enterprise a place at the table now before it is too late - this is not just the right thing to do but the smart thing to do!”

Professor Julia Rouse, Co-Chair of the WEPG and Professor of Entrepreneurship at Manchester Metropolitan University, continued: “As our report shows, women running businesses have faced acute pressures during Covid-19. We know that women tend to trade in sectors that do more face-to-face work - for example, as carers, in hospitality and tourism or as beauticians - and that means their trade is only coming back slowly and is vulnerable to local lockdowns. Add to this school and nursery closures, and the threat of ‘bubbles’ and consequently support networks bursting when these re-open fully, and you can see the scale of the challenge.”

The WEPG have put forward a framework of policy actions to Government which they say will ‘build back better’ for women’s enterprise and have identified six key areas; Finance: Income Protection; Finance: Grants, Loans & Investment; Valuing Women-Led Sectors; Business Support; Business Start-Up; Invest in a Care Infrastructure.

Download the full ‘Framework of Policy Actions to Build Back Better For Women’s Enterprise’ by following:

https://www.thewomensorganisation.org.uk/downloads/file/WEPG_Framework_of_Policy_Actions.pdf

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