Women's Enterprise can aid economic recovery says Government task force
13 March 2009 |
| Women's Enterprise Task Force including SEEDA Women's Enterprise , Advocates, Ambassadors and guests. Pam Alexander, Chief Executive, seated fourth from right. |
SEEDA Women's Enterprise Advocates and Ambassadors joined more than 80 guests at The Women's Enterprise Task Force's national event to mark International Women's Day on 9 March. The event, co-hosted by the High Commission of Canada at Canada House in Trafalgar Square, highlighted the contribution that women's enterprise makes to the economy - estimated at £130 billion per annum.
The Task Force believes that women's enterprise is an enabler for economic recovery and called upon private and public sectors to support women in business during the recession by providing clearly targeted support through access to finance and procurement opportunities.
The keynote address by Vera Baird QC, MP, Solicitor General, focused on the importance of protecting the critical role of women in business during the economic downturn and the work of the Government Equalities Office. "Running a business gives women control and allows them to balance their work and family life," said Minister Vera Baird. "Women's enterprise is a solution for women, a solution for families and a solution for the economy."
Other speakers at the event, Pam Alexander and Dr Glenda Stone, co-Chairs of the Women's Enterprise Task Force, commented on the state of women in the recession: "Current labour force data indicates that levels of female employment are declining, especially in regions and sectors most hit by the current economic crisis. Some women will consider self-employment a good opportunity. Interim findings from our research on women's enterprise in the recession suggest that, while women are aware of the difficult environment that they are working in, their flexible low cost and low debt business models are attracting new business from larger companies interested in leaner, high quality suppliers."
Senior officials from the High Commission of Canada, the Embassy of the United States of America and the Association of US Women's Business Centres also spoke at the event and highlighted the international dimension of the occasion by encouraging women to trade internationally to access new markets.
Minister for Economic Competitiveness and Small Business, Shriti Vadera said: “There are 20% more people in enterprise in the US than in Britain , and the majority of that gap is made up of women. Getting more women entrepreneurs is an economic issue not just an equality issue. If we were to match US levels of women's enterprise there would be 900,000 new businesses in the UK.
"There is a wealth of untapped talent and economic opportunity that could significantly boost the economy in these uncertain times. The Government is supporting women in enterprise and the Task Force is part of a commitment to do this."
SEEDA Women's Enterprise Advocate, Alice Edgcumbe-Rendle agrees that more women are likely to seek tailored business support during the recession. "Having run a business for 20 years, I worked through the last recession and learnt a lot from that experience. I recognised the onset of this current downturn a few years ago, giving me a chance to put my affairs in order," Alice admits. "It won't be so easy for those who don't have this experience."
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