British corporations have achieved a noteworthy milestone as the presence of women in senior positions surpasses the 40% mark, as indicated by a study released recently.
The 2025 objective of reaching 40% female representation was set for companies in the FTSE 350 index, and they have accomplished it three years ahead of schedule. It's worth noting that just over ten years ago, there were zero women on the boards of 152 out of the 350 companies.
Nevertheless, this progress is not uniform across all levels of leadership. At present, only about 33.5% of key positions below the board level are held by women.
The study applauded this early achievement
of the 40% goal and underscored the potential for further improvement. It pointed out that the synergistic effect of well-defined objectives and pragmatic policies has allowed businesses to display their commitment to progressive transformation and enjoy the benefits of a diverse team.
Turning to entrepreneurship among women…
An unprecedented number of women ventured into entrepreneurship in the UK last year, undeterred by economic challenges.
Around 150,000 enterprises were launched by women in 2022, which is over double the number in 2018. Companies led by women now constitute 20% of all UK businesses, a significant rise from 16% four years ago.
These statistics are drawn from the Rose Review 2023, an independent examination of women's entrepreneurship, directed by Alison Rose, CEO of NatWest Group. The report suggests that the UK's economy could experience a £250bn uplift if the rate of business startups by women equaled that of men.
Alison Rose praised the tenacity and innovative spirit of women founders, who have been establishing businesses in record numbers. She stated that the Rose Review would continue to extend its support for their efforts.
She added, "We will persist in launching new programs that provide mentorship, guidance, and motivation to founders. Additionally, we will secure more pledges from financial institutions to simplify access to crucial funding for companies led by women."