IWD Reflection: The Impact Women Have had in the World of Business

March 30, 2023

Over the last two decades, women-owned businesses have been on the rise, contributing significantly to the UK economy. In honour of International Women’s Day, it is essential to highlight the impact women have had in the world of business and how their success is changing the narrative. We thought the best way to do this was to fill a room at the lovely Home Grown Private Members club with women founders and professionals alike to discuss this year’s theme – embracing equity, as well as explore the successes and challenges women leaders have faced running their own businesses.

 

According to a report by the Federation of Small Businesses (FSB), women now account for 33% of all small business owners in the UK. Moreover, women-led businesses generated a combined turnover of £185 billion in 2019, creating jobs and driving economic growth. The Rose Review Progress Report 2022 on female entrepreneurship also unveiled that more women than ever are starting new businesses, with 145,200 all-female-led incorporations in 2021, up from 56,200 in 2018. This represents an average year on year growth of 37% per annum. One of the reasons for this growth is that women are more likely to start businesses that focus on social and environmental issues. Women are more conscious of social responsibility, sustainability, and making a positive impact in their communities. This perspective has influenced the way women-run businesses operate and has contributed to their success. This was evidenced via the panel discussion had between an amazing panel of women leaders including Wendy Powell, Diana Hunter, Karen Hanton, and Diana Verde Nieto.

 

An excellent example of this is Wendy’s experience as a Femtech entrepreneur, NHS Innovation Accelerator Fellow, and Founder of global health-tech platform MUTU System, providing totally transformative pre and postnatal care. Wendy’s own struggles postpartum led her to create something that would ensure all women get to enjoy the dignity and pleasure of a body that works and that makes them feel good. MUTU System has helped more than 90,000 Mums to feel amazing in and about their bodies and has grown from strength to strength, with a strong presence in the UK, Europe and US.

 

Another example of women’s impact in business is the success of Little Waitrose, created by Diana Hunter. She was accountable for delivering all elements of the Convenience P&L, business plan and business performance, taking the business from a loss to profit in one year. From the get-go, Diana developed a deep understanding of developing brands and turning them into profit-making organisations which is evidenced in each and every brand she has worked with. She is currently a Non Executive Director at Wolf & Badger and assists the founders in building a community of ethical brands and conscious consumers who positively impact the world, creating a future in which every element of retail is fair and frictionless for everyone.

 

Additionally, Karen Hanton is another prime example of how women are leading the charge in the world of business, having sold many companies, two being sold to large corporate organisations. Karen has also gone on to found PetsPyjamas, which reflects the important place pets can have in people’s lives and offers dog-friendly travel holiday ideas amongst lots of other things! PetsPyjamas supports and works closely with a few chosen charities and strongly encourages those who want a pet to source one from an animal rescue centre. She is also the inspired partner of sustainability site Positive Luxury.

 

Our final panellist, Diana Verde Nieto, is Karen’s co-founder of Positive Luxury, a company that helps brands adapt to the new sustainability economy. They support their clients with expert advice, industry analysis and independent certification, keeping them at the forefront of the world’s rapid transition towards a sustainable future. Herein highlighting the importance of social responsibility, sustainability, and making a positive impact in our community.

 

In addition to these cases, research has shown that companies with gender-diverse leadership teams tend to perform better financially. A study by McKinsey found that companies in the top quartile for gender diversity are 15% more likely to have financial returns above their industry average. This fact highlights the importance of supporting women in business and promoting gender diversity in leadership positions.

 

Women-owned businesses have come a long way in the UK, and their impact on the economy cannot be ignored. They have brought innovation, social responsibility, and diversity to the business world, and their success is changing the narrative about what it means to be an entrepreneur. As we celebrate International Women’s Day, let us continue to support and empower women in business and recognise their critical role in shaping the future of the UK economy.

 

Photos from our IWD event:

IWD event 2023 International Women's Day event 2023 Female Founders IWD Women in Business events IWD event london 

 

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