The UK is leading Europe in its level of entrepreneurial activity, with women at the forefront of a national surge to start-up business on their own.
Increasing ambition from Brits to become self-employed means the UK is now more entrepreneurial than Italy, Germany, France and Japan but lower than the US and Canada.
Rates for the self-employed have rocketed in Britain over a three year-period, with those wanting to start-up a company rising from 7.9 per cent in 2002 to 9.5 in 2004.
This is according to the Global Entrepreneurship Monitor (GEM), which found that female students, women outside of London or those from an ethnic minority background have the most entrepreneurial spirit.
Significant gains have also been made from people living in the Midlands and North East regions, meaning the North/South divide of entrepreneurial activity is gradually narrowing.
Despite this, the most noticeable hot spot for UK entrepreneurs remains around the South East, followed closely by growing competition in the East and East Midlands.
Even more remarkable, is the larger number of entrepreneurial women in the UK – especially in rural areas, who have made a beeline for self-employment just as the number of men starting-up has dropped.
The survey added that out for every 100 men starting their own business, 46 women also did the same – up from 43 the year before and the first time the gap has narrowed so significantly.
However, the gap appears biggest in the West Midlands regions, where levels of enterprise among men are three times higher than among women.
"We want to create a culture that means wherever you live and whatever your background, you can turn your great ideas into a business success," said Patricia Hewitt, secretary for Trade and Industry.
"That's why I'm pleased we're narrowing the gap between male and female start-ups," she said reflecting on the GEM findings.
The DTI said that the number of small and medium-sized businesses in the UK has grown by 300,000 in the past seven years and employment in small business has increased by 600,000.
They said the progress for the UK is bound to continue, especially if the government and its agents can do more to relieve the regulatory burden on small businesses.
The survey concluded some interesting cultural attitudes to self-employment, with more people than ever before knowing an entrepreneur in the UK.
Likewise, more people than ever are feeling ready and skilled enough to make a success of their own business, with the highest levels of ambition coming from people with ethnic minority backgrounds.
In the survey this was best represented by the GEM's reading of Black and Caribbean people, who are three-and-a-half times more likely to be entrepreneurs than their white counterparts.
Asian and Bangladeshi individuals are also three times more likely to be entrepreneurs, with most in the community seeking start-up funds from friends and family.
Other key findings reveal the South West has the highest number of new technology start-ups with 29.9 per cent of all start–up activity, compared to the North West with 4.2 per cent of all new technology start-up ventures.
Jan 24, 2005
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