Women Entrepreneurs Hold Power to Enrich Economy for Betterment of All

Tuesday 27 May 2025

By Lorraine Acheson, Managing Director of Women in Business and Deputy CEO of The WiB Group as featured in The Irish News.

Curiosity, innovation, and a willingness to take risks are just some of the defining characteristics of today’s entrepreneurs. A mindset made strong by agility and unbridled ambition, all of which is fuel to the fire that is the entrepreneurial spirit.

A spirit that unfortunately is no stranger to business barriers and the uncertainty that continues to cast its shadow over the global economy. Trade tariffs, cautious investors, and a fraught geopolitical landscape all compound to lump pressure on companies large and small, while entrepreneurs – particularly those enterprises led by women – are often left facing added challenges that can suffocate potential and flatline any future growth.

All of which swirls together into a spectrum of issues without one silver-bullet style solution. Venture capital (VC) funding worldwide is on the decline, creating a tighter operating environment as seen in Deliveroo’s high-profile sale to DoorDash, which if nothing else stands as an example of how difficult it can be to scale on UK soil.

Then there’s the funding gap, which continues to limit women business owners and their access to early-stage capital. It’s not the only imbalance, either, with research by Wokelo finding on average women require 12 years of leadership experience to secure VC funding, compared to the male average of nine.

What we need is funding opportunities that are inclusive by design, and a system that is tailored to women and the often disproportionate caring responsibilities they often face. Responsibilities that eat into an already precious pool of time that then pushes networking, collaboration, upskilling – key elements that can lend a small business that competitive edge – onto the backburner.

So much so that, in the case of emerging tech like AI, only 15% of small businesses in the UK have adopted AI, compared to 68% of large companies. Without tailored support, entrepreneurs and independent companies risk falling further behind.

Make no mistake, women entrepreneurs, and business owners generally, are a resilient bunch. But their full potential hinges on wraparound support so they may lead on purpose-driven ventures.

Next month welcomes the return of our All-Island Female Entrepreneurs Conference, the only one of its kind on the entrepreneurial scene. For business owners attending, it stands as an opportunity to network and share ideas on an island-wide canvas.

At Women in Business, we are fortunate to have a front-row seat to the aforementioned entrepreneurial spirit all year round, and our conference will be a stacked agenda of dynamic discussion, blue-sky thinking and innovation built on inclusion.

Women’s entrepreneurship is entering the mainstream. Now just imagine the positive power-up to our economy when women achieve an equal footing.

Tuesday 27 May 2025