Women in business Three of the best

Women entrepreneurs are vital to the makeup of the business community and there is a growing body of evidence highlighting the economic benefits of encouraging more women into business. It is estimated that around 21 percent of Scotland's 339,000 SMEs are majority-led by women and a further 22 per cent are equally-led by women and men. Men are still almost twice as likely to start businesses as women. While the under-representation of women in entrepreneurship is an international concern, Scotland’s rates of female business ownership are persistently low relative to other high- income countries. The scale of Scotland’s enterprise ‘gap’ is illustrated by estimates suggesting that Scotland would have an additional 108,480 businesses if women’s business ownership rates equalled those of men. This would equate to a 32 per cent increase in Scotland's business base. The contribution of women-led businesses to the Scottish economy is substantial. Estimates suggest that women-led businesses contribute (at a minimum) £5 billion GVA. If rates of women-led businesses equalled those of men, the contribution to Scotland’s GVA would increase by £7.6 billion to nearly £13 billion. This equates to a 5.3 per cent growth in the size of the Scottish economy. Among women-owned businesses in Scotland, there is considerable ambition and growth aspiration. A survey by Women’s Enterprise Scotland in 2012 found that 87 per cent were planning growth and 27 per cent wanted to grow rapidly.

The Women in Business panel event is aimed at women in business, those planning to be, or those just interested in finding out more. Event host Margaret Gibson will be joined by three local business women; Helen MacKechnie of Oban Chocolate Company, Helen Dewar of M Dive Ltd on Mull and Rachel Ross of Loch Melfort Hotel. ‘I am delighted to take part in the Women’s Enterprise Scotland event, held as part of Argyll Enterprise Week.’ explains Rachel. ‘It is so important that we support and encourage our women-led businesses to grow and flourish in Argyll. ‘Networking and peer support is a crucial part of the mix in being able to achieve that.’ The focus of the panel will be around challenges and opportunities for women in business in Argyll. There will also be an opportunity to take questions from the audience. The session will be followed by an informal networking opportunity supported by the Federation of Small Businesses.