Women’s Enterprise Scotland – the community interest company which works to close the gender gap in enterprise – has highlighted the critical importance of implementing needs-based business support provision in order to stimulate economic growth.
This comes as WES publishes its annual report from the Cross-Party Group on Women in Enterprise, convened by Michelle Thomson MSP, covering the topics that were reviewed during its 2024 schedule of meetings. A key theme was the economic contribution represented by women-led businesses and the opportunity to unlock the ‘missing billions’ which could be added to the Scottish economy by providing the needs-based support women business owners require.
It also comes as WES conducts its biennial Survey of Women in Enterprise 2025, inviting women-led businesses to share their experiences of the current enterprise landscape.
Early survey indications are that women are still finding significant challenges with the cost-of-living crisis, particularly rising energy costs and reduced consumer spending, and that women continue to experience discriminations at worrying high levels. Dedicated needs-based business support for women remains a key requirement.
Despite the considerable challenges faced by women-led businesses, optimism remains robust, with the initial survey findings indicating that the majority of women business owners are looking for business growth over the next five years.
The WES Survey of Women in Enterprise 2025 remains open until midnight until Sunday 9 March.
Sophie Rooney, Secretary of the Women in Enterprise CPG commented; “Women’s entrepreneurship continues to represent a huge area of untapped economic opportunity for the Scottish economy. From the value of their intellectual property to the need for more dedicated, needs based support and the commercial benefits of investing in women-led companies, it is abundantly clear that women’s full economic potential remains both untapped and considerable.”
The 2024 programme of meetings of the Cross-Party Group in Women in Enterprise included evidence from Dr Claudia M. Duffy, WES Ambassador, European Patent Attorney and Entrepreneur in the IP sector , who highlighted the reduced number of women inventors named in European and International patent applications.
Whilst patent rights are often associated with industries such as technology, science and engineering, where women can be under-represented, a plethora of other intellectual property rights is created across many wider sectors. Recognising a sectoral preference, and therefore the types of IP created by women-founded businesses, is essential to ensuring this value isn’t ignored.
Dr Duffy commented; “There are significant disparities in the use of the IP system by women and other minority groups. Recognising and capitalising on the intellectual property rights of women led businesses represents a critical opportunity for our economy as there is a value there that is currently being overlooked.”
Rhoda Meek, co-founder of Tiree Tea, spoke of her experiences of running a business from the Inner Hebrides, highlighting specific challenges faced by island-based businesses such as high shipping costs, limited childcare, and housing issues on the islands. These challenges can be daunting for early-stage businesses, yet these fledgling women-led micro-businesses are vital for island communities and the creation of more sustainable local economies.
The Cross-Party Group on Women in Enterprise 2024 Report concludes that in an economy challenged by sustained cost increases and the erosion of business margins, delivering more nuanced and tailored business support could add billions of pounds to the economy and help communities across Scotland to thrive.
And with UK data evidencing a drop in the percentage of women-led employer businesses, WES is now encouraging women business owners to complete their biennial Survey of Women in Enterprise 2025 before the closing date of 9 March. The survey is intended to provide vital insights into the enterprise landscape and can help to inform how the ecosystem is shaped in the future.
