Latest research by merchant services provider Paymentsense has revealed that the craft and hobby sector has one of the highest proportions of female-led businesses. Data from the company's 70,000 small businesses has found that almost half (49 per cent) of creative companies are run by women. The only industry with a greater number was social care, where 64 per cent of companies had a female boss. Across apparel and clothing the figure was also 49 per cent.
The research also showed that just over a third (34 per cent) of UK SMEs are now female-run, an increase of 19 per cent since 2017. However, a significant underrepresentation of female entrepreneurs was noted.
The study also showed that the balance of ownership varies at city level. Carlisle had the highest number of female-run companies (50 per cent), followed by Torquay, Telford, Truro and Shrewsbury. Of the 100 cities and towns analysed, London sits in the bottom 10, while the area with the lowest level of female entrepreneurs was Slough.