Analyzing Female Entrepreneurship Impact on UK Economy and Society

This report investigates the role and influence of female entrepreneurship on the economic development and social traditions of the United Kingdom. The study examines the importance of female entrepreneurs, their contributions to the economy, and the challenges they face, such as competition, work-life balance issues, and funding limitations. The research includes a literature review, research objectives, and methodology. The report aims to analyze the impact of female entrepreneurs, identify challenges, and offer recommendations for development. It covers topics like the meaning and importance of female entrepreneurship, their role in economic and social development, and ways to support their growth, including expert guidance, continuous learning, and building market networks. The report also highlights the significance of female entrepreneurs for economic growth and societal improvement, emphasizing their impact on GDP and the evolving role of women in business. Finally, it emphasizes the importance of addressing challenges like limited access to capital and resources and the need to foster a supportive environment for female entrepreneurs.

BUSINESS AND MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................1
1.1 Topic.................................................................................................................................1
1.2 Importance of problem.....................................................................................................1
1.3 Aim of research................................................................................................................2
RESEARCH OBJECTIVES ...........................................................................................................3
Objective:...............................................................................................................................3
Rationale ................................................................................................................................3
LITERATURE REVIEW ...............................................................................................................3
METHODOLOGY .........................................................................................................................5
DATA AND RESEARCH ETHICS................................................................................................8
LIMITATIONS ...............................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
1.1 Topic
Female entrepreneurship and economic development is very much important topic to be
studied into the current perspective as this will help us to know range of women entrepreneurs
and their development (Muldoon, Brierton and Carter, 2013). There are many women owned
business into world which are gaining special attention of world media as they are one of the
fastest growing population. Women are also making their special contribution into innovation
and development from all across the world. Into the developed countries like that of UK,
Germany, USA and Japan their role is significantly recognised all over the class of people. While
in the case of developing countries it is only starting stone where they are knowing how
important women entrepreneur are into economic development. So this topic is very much
important to study and explore this topic with regard to economic and social development of UK.
1.2 Importance of problem
There are many research papers which are published before for gaining up information
related to women or female entrepreneur their role and importance into economic development
of country (Wilson, Shaw and Lam, 2007). As in year 1970 within UK there was bill passed
which made it illegal for all company to pay more to their male employees then their female
employees. Then after one century the government of UK were forced to share their data related
to payment systems for all public and private sector organisations. Then it was included that in
2014 there was 5.7% of working age women who engaged into entrepreneurial activities which
is 10% more than that of men. While the longevity rates of women business are comparatively
lower that those set up by men. It could be noticed that there are less than 6% of working women
who are been engaged into early stage entrepreneurial activity which is compared to men. There
is also very much active increasing role of participation of female in all sector which is 10% of
complete economic contribution of women into SME and this will increase to 2025 by £180
billion. This clearly show that the role which women entrepreneurs are playing into economic
development is very high while on other hand there is still under-capitalisation in respect to this
in parts of world.
It could be included that women in this time are working or supposed to work in many
types of business like into leading banks and financial institutions where they are getting regional
support as well. the benefits of ensuring women who are having sufficient capital in way of
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starting their own business and recommending changes into training of bank staff and that of
women entrepreneurs as well (Women entrepreneurs, 2018). In addition to this there are also
some recommendations which are made for upliftment of women entrepreneurs like creation of
women enterprise academy and development of the new digital platform as well. So it is very
much important that people are knowing how much important and significant role women
entrepreneurs are playing into economic and societal growth. With the interpretation of role of
women for economic growth it could also be included that they are also playing very significant
role into upbringing of society. As they are main source of brining or having good habits and
ideology for the coming generation of people it so it is included that they are influencing the
society as well.
There is change into lifestyle and thinking of people was only possible after then overtake
of economic development of UK by the hand or side of women entrepreneurs. The increase and
improvement within GDP or GNP of nation will mostly be depending upon number of
companies which are leading market of international and national market as well. So if there is
huge number of companies or businesses which are growing into marketplace then this will be
possible that GDP of country is increasing. The influence of women into business is very much
significant as they are contributing into economic growth and development that is also growing
now a days. this particular research will be finding out impact that women are having on
economy of any nation so that their role could be identified and made more clear.
It could also be included that there are certain challenges which women entrepreneurs
face and they are more than that of males facing it. Like they would not be getting any kind of
support from their family or relatives which will be having negative impact on their performance
or development (Brush, and Cooper, 2018). Then lack of funds or financing options will also be
somewhere impacting their development and access to resources like that of human capital. It
was noted in one of the report in 2014 that there is less than 3% of venture capital that is funded
and it is then having women CEO into their company.
1.3 Aim of research
To analyse the role and influence of female entrepreneurship into economic development
and social tradition of country: A perspective of United Kingdom
With this there will also be recommendations given for lowering down challenges and
problems that women entrepreneurs are facing which need to be consider into this current
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research as well. It is very much important that the researcher is taking care of the aim and
objective which they need to carry out so that they could be able to achieve their aims. The main
purpose of the research is to identify the role and importance of female entrepreneurship into
economic development and social tradition of UK.
RESEARCH OBJECTIVES
Objective:
 To identify the meaning and importance of female entrepreneur
 To access the role of women entrepreneur into economic and social development
 To explore the challenges faced by women entrepreneur in context of UK
 To recommended for development of women entrepreneur
Rationale
All these aims, objective and questions will be helping researchers to finding out real
meaning and importance of female entrepreneur so that their importance could be found out.
There will be greater research on this topic for analysing sort of economic and social
development that they are including for increased in GDP of nation. The role which female
entrepreneur are playing will be leading to their own development as they would be having
source of likelihood and earning. They would not be having others to depend upon for their
living which is another powerful factor or impact upon their social well being.
LITERATURE REVIEW
With the advancement of technology, globalization of the firms and businesses and
increasing in the awareness among people around the world, the level of gender equality has
been raised to a greater extent. With the growth of the measures, this can be said that the proper
management of the business activities that will support the proper management of the business
activities that will support a good rise in the business activities and thus will lead to the good rise
in the number of female entrepreneurs within the country. The significant rise in the number of
female entrepreneurs have been marked as the positive sign among not only the experts in
quoting the enhancement measures in gender equality and thus will support the proper
management of the different business activities within the organization. This will also help the fir
to enhance the quality of business operations in much effective and significant manner.
Meaning and importance of Female Entrepreneurship.
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As per the recent research performed by Smallbone, (2017), this is been found that the
number of female entrepreneurs has grown in a significant manner in the market within few
years showcasing that women's too can look after the proper management of the business
activities and operations that will help the firm to enhance the quality of products and services
that will help the organization to enhance their customer base. The female entrepreneurship can
be defines as the “Activity or practice of setting business enterprise and running an organization
by women or female, with the purpose of providing high quality aesthetic products and generate
a decent amount of revenue.” As per the assessment carried out by Poggesi, Mari and De Vita,
(2016), this can be said that the proper management of the business operations and activities is
based on the skills and knowledge of a female entrepreneur, which is regardless not directly
related to the backgrounds and educational qualification of the women. The assessments
showcase that with the rise in 23% of female entrepreneurship, it has contributed about 36% in
the revenue generation by the overall business and improved the gross domestic production of
the organization. In much effective way. The multitasking capability of a woman makes them
important for the overall society and thus improves their roles and responsibilities in much
effective manner.
Role of women entrepreneurship
As per the findings of Langevang and et.al., (2015), it can be said that the proper
management and carrying out of the women entrepreneurship will help the society and country in
many ways. It will not only provide the opportunity of jobs and employment to the women's in
need but will also lead to the effective increase in financial or economic condition of the country.
They have emerged as the major service provider, mitigating the male dominance in many
industries in many industrial sectors and gaining a good amount of revenue. Also, Ramadani,
Gerguri-Rashiti and Fayolle, (2015) states that many of the women's are exploiting the market
opportunity using the 3M or “money, management and market” approach, improving their
chances of gaining a good quality of operations and thus will help in the proper management of
the business activities and thus will help the firm to enhance the quality of business activities' ad
thus will lead to the quality of products and services they offer.
Challenges faced by female entrepreneurs in UK
However, still the operations and developing of the female entrepreneurship in a greater
extent. As per the findings of Wilson, Shaw and Lam, (2017), the major challenge for the female
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entrepreneurial approaches is the tough competition from the male entrepreneur in the market.
This scenario makes the female entrepreneurship to be a big objective for many budding
entrepreneurs. Besides this, as per the assessment of Muldoon, Brierton and Carter (2013), the
other issues like inability to establish the proper work life balance, minimal support from many
conservative societies, lack of resources and reluctance is the major challenge that the female
entrepreneurs face while operating within the market of UK.
Recommendations for development of female entrepreneurship
As per the findings of the Granath and Kling (2018), certain measures like getting the
proper help from the experts, having the continuous learning, taking regular feedback from the
customers and building a good market networks are some major re commendatory measures that
can be taken in the consideration by female entrepreneurs.
METHODOLOGY
In order to carry out the proper research and data assessment process, the scholar will see
through the proper assessment of the different research methods that will help the organizations
as well as the data interpreter to carry out the assessment and interpretation process in an
effective manner (Smith, and et.al., 2017). These measures will lead the data analyzer to get the
proper idea about the measures and activities to be carried out along with the proper adoption of
these measures to enhance the quality of research activities. Besides this, it will help him/her to
develop or generate an effective idea or perception about the idea or aims and objectives that are
been set for the research purpose. The proper assessment of the research methods and activities
will help the firm to enhance the quality of data that is been collected and the interpretation
measures which are been carried out. Besides this, it will help the firm as well as the scholar to
have a good insight about the way in which the data will be analyzed and presented to get the
proper outputs from the research process.
The suitable measures and various classified components of the research methodology is
been taken in the consideration by the firm as well as the data investigator to enhance the over all
quality of data and its effectiveness (Serafini, 2018). The major role of research methodology is
to define how the research process will be carried out, what all components will be included and
which processes and principles are been followed in order to get the desired output related to the
set aims and objectives that will help the data analyzer and interpreter to get the proper idea
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about operations that are been carried out. The research methodology in the present dissertation
will include the following components:
Research Type: the selection of the appropriate research typology is very important for the
organization that will support the proper placing of the research activities and operation that will
help the scholar to get the proper management of the business operations and activities in order
to carry out the operations in much suitable manner. The research typology has 2 types
quantitative and qualitative (Ennis, 2018). For the present dissertation and research activity, we
have chosen the effective qualitative research type which will help in developing a good
perception towards the research aims and objectives. This will help in identifying the proper
management of female entrepreneurship in much effective way using effective research
type.
Research approach: the research approach is one of the most important component of the
research methodology as its will depicts what all measures and action plans are been taken in
consideration by the scholar. A proper selection of research approach will simplify the data
assessment process and thus will lead the organization to improve the quality of data exploration
process carried out by the scholar (Santos, Marques and Ferreira, 2018). It is basically of two
types: inductive and deductive. The present research report covers the deductive form of research
approach that will help the scholar to deduce the proper outputs and results based on the data
collected. It will help us to deduce an effective research approach which will improve the
suitable planning of research related to female entrepreneurship management.
Research design: a proper placing of the research design will help the organization and data
investigator to carry out the operational facilities in much effective and significant manner. A
proper research design will help the data analyst to make a suitable base for placing its
interpretation and data assessment process and get the suitable and desired outputs (Boateng,
2018). This will help the fir to enhance the quality of operations and action plans that are been
taken in the consideration by the firm. For the present research activity or process, the
descriptive research design is been taken in consideration. This will help the fir to enhance the
quality of data assessment process that will help the scholar to present the gained data in much
effective way. The descriptive research design will help in placing effective data of the
organization to carry out the effective research process and will improve the quality of
outcomes received in much detailed way.
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Data Collection: In order to carry out the research process in much effective and suitable
manner, the proper data collection process or measure is required to be carried out within the
firm by the scholar. This will also help the organization to enhance the quality of business
activities and thus will support a good rise in placing of operations in much effective manner
(Steel, 2017). A proper and appropriate data collection will help the data analyst to get the proper
and effective idea about the operations that are been taken in the consideration for research
purpose. The current research activity included the secondary data collection that consist of the
gathering of data on the basis of existing article and journals of other experts and scholars. This
will help in effectively fulfilling the research objectives that are been set within an
enterprise and thus will improve the quality of products and services in much effective
way.
Data analysis: the data analysis process is very crucial and important in order to carry out the
proper management of the research and data assessment process that are been followed by the
organization. In order to get the proper and effective insight and developing of the suitable
perception towards the ideas and concepts that are been taken in discussion within a research
process. An appropriate data analysis process will support the proper development of a
perception that will help the organization and scholar to generate a proper output. For the present
research process, the scholar have selected the thematic data analysis process. That will help the
firm to carry out the data assessment activities in much suitable way (Lewis, Nelson and Henry,
2017). The data assessment will help the scholar to get the precise idea about the research
objectives that are been taken in analysis for identifying the impact of data analysis.
Data Sampling: for the significant data collection and data assessment process, a proper data
sampling is been taken in the consideration that will support the proper stage-management of the
research or data assessment activities and thus will help the fir to enhance the quality of
measures and thus will also lead to the rise in business activities in much suitable manner
(Zapalska and Brozik, 2017). This will also help the organization to identify the extent of
information gathering by a scholar or data analyst. For the present research or data assessment
process, random sampling measure is been chosen to include 20 UK based female entrepreneurs,
working within various industries. This will help us to get the suitable idea about the planed aims
and objectives to have a good knowledge and perception. As for the sampling the female
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entrepreneurs is been chosen, it will help in getting more ground level, realistic and
prominent data related to research objectives.
DATA AND RESEARCH ETHICS
The proper data and research ethics will be followed by the scholar for the purposes of
carrying out the data analysis and evaluation process that will help the organization to enhance
the quality of business activities and operations that are been carried out for analysis about the
importance of female entrepreneurship (Wollstonecraft, 2017). Although the secondary data
collection measures are been carried out, the personal perceptions and ideas will be included
within the organization by the scholar. This will help the firm to enhance the quality of the data
that is been collected and is been taken in the consideration by the firm.
LIMITATIONS
The major and most significant limitation or restriction related to the proper management
of the entrepreneurial activities are meant to be taken in effective consideration and thus will
lead the organization to enhance the quality of business operations that are been carried out by a
female entrepreneur (Goel, 2018). Besides this, finding the established or working female
entrepreneurs within UK is the major change or limitation. Besides this, the financial and ethical
considerations are also required to be managed in much effective and significant manner that will
help the organization to enhance the products and services that are been offered by female
entrepreneurs within UK.
CONCLUSION
On the basis of the data assessment process that is been carried out within the
organization, this can be said that the effective placing of the women entrepreneurial ventures
will impact the overall growth of an organization to a greater level. This will help the firm to
improve the quality of the enterprise. The effective review of various literature and assessment of
proper data evaluation methods have helped to scholar to gain a good idea about women
entrepreneurship. Besides this, the assessment of limitation will assist the scholar to carry out
their mitigation measures effectively.
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REFERENCES
Books and Journals:
Boateng, A., 2018. A theory for the development of African female entrepreneurship. In African
Female Entrepreneurship(pp. 127-139). Palgrave Macmillan, Cham.
Ennis, C. A., 2018. The Gendered Complexities of Promoting Female Entrepreneurship in the
Gulf. New Political Economy. pp.1-19.
Goel, R. K., 2018. Foreign direct investment and entrepreneurship: gender differences across
international economic freedom and taxation. Small Business Economics.50(4). pp.887-
897.
Granath, K. and Kling, K., 2018. Investigating the Relation Between Microcredit and Female
Entrepreneurship in Lao PDR.
Langevang, T. and et.al., 2015. Bounded entrepreneurial vitality: The mixed embeddedness of
female entrepreneurship. Economic Geography. 91(4). pp.449-473.
Lewis, K. V., Nelson, T. and Henry, C., 2017. Introduction: the context and practice of female
entrepreneurship. In The Routledge Companion to Global Female Entrepreneurship(pp.
17-28). Routledge.
Muldoon, J., Brierton, J. and Carter, S. 2013 Women in Enterprise: Draft Framework
Consultation Document. Glasgow, The Scottish Government
Poggesi, S., Mari, M. and De Vita, L., 2016. What’s new in female entrepreneurship research?
Answers from the literature. International Entrepreneurship and Management
Journal. 12(3). pp.735-764.
Ramadani, V., Gerguri-Rashiti, S. and Fayolle, A. eds., 2015.Female entrepreneurship in
transition economies: Trends and challenges. Springer.
Santos, G., Marques, C. S. and Ferreira, J. J., 2018. A look back over the past 40 years of female
entrepreneurship: mapping knowledge networks. Scientometrics. 115(2). pp.953-987.
Serafini, G., 2018. Female Entrepreneurship as Production Factor or Business Function: A
Literature Review of (Lack of) Definitions. In Gender Issues in Business and
Economics (pp. 37-44). Springer, Cham.
Smallbone, D., 2017. From Business Ownership to Informal Market Traders: The Characteristics
of Female Entrepreneurship in Lithuania. In Enterprising Women in Transition
Economies (pp. 133-156). Routledge.
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Smith, H.L and et.al., 2017. Female academic entrepreneurship and commercialisation. The
Routledge Companion to Global Female Entrepreneurship, Chapter. (5).
Steel, G., 2017. Navigating (im) mobility: female entrepreneurship and social media in
Khartoum. Africa. 87(2). pp.233-252.
Wilson, F., Shaw, E. and Lam, W. 2017. ‘Bank loan officers’ perceptions of business owners:
The role of gender’, British Journal of Management, 18(2): 154-171.
Wollstonecraft, M., 2017. A trap and a safety net: the role of the Housewife in female
entrepreneurship. Culture.
Zapalska, A. and Brozik, D., 2017. Māori female entrepreneurship in tourism industry. Turizam:
međunarodni znanstveno-stručni časopis.65(2). pp.156-172.
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Women entrepreneurs. 2018. [Online]. Accessed through:
<https://www2.deloitte.com/uk/en/pages/growth/articles/women-entrepreneurs.html>.
Brush, G. C., and Cooper, S. Y. 2018. Female entrepreneurship and economic development: An
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<https://www.tandfonline.com/doi/full/10.1080/08985626.2012.637340?src=recsys>.
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