Women In Work Could Boost UK Economy

Jun 6, 2013


By Lyndsey Hall

A new report has suggested that getting more women into the workplace could help boost the British economy.

The Women’s Business Council (WBC) revealed their recommendations at the London Stock Exchange today, stating that: ‘Women should not just try to fit into the economy, they should be shaping it’. The WBC claims that if there were an equal number of women as there are men in the workforce, GDP growth would increase by 0.5 per cent a year, and could be as much as 10 per cent higher by 2030. The Council, which was set up by the government in 2012, also estimates that almost two and a half million more women want to be in work, and 1.3 million would like to increase their working hours.

The report focuses on several key life stages, such as early education, parenthood and middle age; identifying these as times when women should be encouraged and supported in order to increase the number who join the workforce at each stage. It also advocates broadening education choices and career aspirations offered to girls at school, before they even enter the workplace; as well as championing the benefits of businesses employing older women. Flexible working and more support for those with children, as well as older women who care for elderly parents, is also supported by the WBC’s report. According to the report, women are half as likely as men to run their own business, and the government should raise awareness of the help that is available and offer more support to female entrepreneurs.

The WBC believe that: “By creating opportunity for all, raising aspirations and enabling people to maximise their talents, we will deliver stronger economic growth.”

We at Knowles Warwick completely agree with the WBC’s recommendations and support any efforts to help get more women into work, but what do you think? Do you agree that women should be targeted at specific stages in their life and encouraged to join the workforce? Do you believe more young girls should be encouraged to study subjects like science; an industry in which women are poorly represented? Let us know your thoughts in the Comments.

We have a number of female entrepreneurs on our client list so if you feel you need help and advice from experienced professionals, please get in touch.

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