Fear of failure 'preventing young women starting businesses'

Josh Hall's picture

Young women are only half as likely as young men to start a business, despite wishing to do so equally.

This is according to new research from Octopus Group, which surveyed 14 to 25-year-olds.

It found that 11 per cent of men in that age group had tried to found a business, compared with just six per cent of women.

But the eagerness to do so was almost identical across both groups, with 45 per cent of men saying they wish to start a business, compared with 41 per cent of women.

The research also asked about respondents' reasons for not starting a business, and found that women were more than twice as likely as men to say they were concerned about failure.

Meanwhile half of the male respondents said they had a male entrepreneur role model, compared with just a third of women.

Commenting on the report, Octopus Group co-founder and chief executive Simon Rogerson said: “It’s in everyone’s interest to break down barriers to entrepreneurship. Entrepreneurs drive economic growth, create jobs and solve many of society’s problems —but to do this we need a diverse pool of talent and ideas.”

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