Richard Branson: Supporting women entrepreneurs could inject billions into the economy

“Thankfully, as the business landscape has changed so too has our idea of what kind of people entrepreneurs are.”

Branson references a UK survey which shows 20% of single-person businesses are run by women, and that boosting female entrepreneurship could inject £60 billion ($A96.3 billion) into the UK economy, heralding “new jobs, new investment, and a new attitude”.

“There is so much to gain from supporting women to start up at the same rate as men,” Branson says.

Despite this boon, Branson says it’s a global issue, mentioning how “huge investments” don’t help entrepreneurial women in developing countries, instead calling for more micro-loans and education in these regions.

One program closer to home is trying to provide just that, with non-profit organisation Global Sisters providing business coaching and support networks for Australian women who face financial exclusion.

“One of our women we’ve been working with has a business focused on a traditional African ginger tonic called Auntie’s Ginger Tonic,” Global Sisters founder Mandy Richards told SmartCompany last year.

“Through our coaching program, she has specialised help for product development and another separate coach with a marketing focus. She’s about to work with another person on the finance and business side.”

Branson says women should be encouraged to do more than break the glass ceiling, instead, they should “build their own towers”.

“Women make up half the world, and so too should they the business world. When they do we will all happier and better off,” he says.

“A more tolerant, diverse, and creative business landscape will better equip us to tackle future challenges.”

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