Monday 14th March 2022

We saw this article by Richard Tyler in The Times and wanted to share it with you.

Irene Graham said there had been a “concentrated effort” to give female-founded businesses dedicated support.

The number of fast-growing companies co-founded or founded by women has risen by more than a third in the past two years, according to figures from the ScaleUp Institute.

The not-for-profit organisation has identified 261 companies that have sales of more than £10.2 million or assets valued in excess of £5.1 million — the threshold at which companies have to file profit and loss accounts at Companies House. This is a rise of 34.5 per cent since 2020.

The businesses, which also had to increase sales or jobs by at least 20 per cent a year for three years to qualify, include the likes of Ooni, the Edinburgh-based maker of pizza ovens, and Plantforce Rentals, the digger hire specialist in Bristol. Combined, they generated turnover of £14 billion and employed almost 65,000 people.

Half the businesses expect to continue increasing their sales by more than 20 per cent this year, with a third targeting growth of 50 per cent or more. Two thirds are based outside London. Business and professional services dominate, with 42 per cent of the companies operating in the sector, followed by 22 per cent in manufacturing.

Irene Graham, the institute’s chief executive, said that the increase had been driven in part by a “concentrated effort” to give female-founded businesses dedicated support. “I think it’s making a difference,” she said.

Last month a government-commissioned review said that a record proportion of new businesses were being founded by women. More than 140,000 companies were established by all- women teams last year, with the figure growing by a third in each of the last three years.

Of the 261 companies identified by the ScaleUp Institute, using data provided by Beauhurst, a research firm, 101 were founded by a woman, rather than being co-founded by women and men.

The institute said there were 33,445 scale-up companies operating in 2019. Of these, typically 7,500 disclose their profit and loss at Companies House.

Graham said: “Female scale-ups are still small in number compared with the broader male-led scale-ups, but it is encouraging to see the growth.”

ActionCOACH Cheltenham and some clients at our International Women’s Day Lunch and Talk, Ellenborough Park Hotel, March 2022.

We are encouraged too!

Here at ActionCOACH Cheltenham, we are passionate about supporting women-led businesses.

Half our clients are run by female founders.

If you would like our support and advice on growing your business, why not join us for our International Women’s Day free online business seminar on Friday 25th March?

Click here to discover more and book your place.