Women are only half as likely as their male counterparts to start a new business and just a fifth of small firms are led by females.
That’s according to the Government which thinks there may be “unfair obstacles” preventing women from starting their own firms, meaning there is a “significant pool” of untapped talent.
The Government has requested a review into the issue from Alison Rose, head of RBS commercial and private banking.
She said that it is ‘unfortunate’ that women represent just a third of entrepreneurs in the UK, according to a report by the BBC.
It was estimated last year that less than 20% of SMEs were majority-led by women and that females make up just 27% of full-time chief executives and senior officials.
Respondents to a survey by Unilever said that were too few female role models in business.
The survey found that females who did start companies commonly came across discrimination, for example, investors being less willing to invest.
The Treasury has now said it will consider how to increase the number of females engaging in entrepreneurship. Its review is set to be published in spring.
In the UK jewellery industry it is more common for women to start up their own business, especially with websites such as NotOnTheHighStreet and Etsy providing a leg up, and Instagram making it easier to sell jewellery, but that’s not to say it is easy for those who choose this path.
Conversations with industry professionals reveal many women in the UK jewellery trade feel torn between working for a company that will provide stability, to starting their own business in order to be more flexible around family life.
It’s also a struggle for women in the jewellery trade to get to senior levels, with many choosing to be their own boss instead.
Earlier this year it was revealed on average, across the leading UK jewellery groups, the gender pay gap in 2017 was 24.9%.
This was heavily due to a low percentage of women in full-time, chief exec and senior positions,