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Vital steps needed to remove gender disparities in the workplace International Women’s Day 2023

 

Research from solution-led fintech lender Nucleus Commercial Finance (NCF) finds1:

  • Almost half (45%) of UK employees work for a company with a female CEO or Managing Director
  • Nearly two thirds (63%) of female respondents feel their company is supportive of female leaders and encourages female staff to pursue leadership roles.
  • A quarter of female employees work in a company that doesn’t offer any gender-related benefits.
  • And just a third said their employers offer enhanced maternity leave benefits or flexible arrangements for working mums.

This follows the Government review into board diversity achieving its target of 33% of board positions at FTSE 100 and FTSE 250 firms being held by women by the end of 20202.

However, there is still a lot of work to do to create working environments without gender disparities and continue facilitating equal access to leadership opportunities in the workplace.

Chirag Shah, CEO and Founder of Nucleus Commercial Finance, says: “While we’re seeing positive improvements when it comes to women in business, there is still major work to be done in order to achieve total equality.

“Recent reports have shown female entrepreneurs in the UK launch their businesses with 53% less capital than men3, and a lack of access to funding is one of the biggest challenges they face when deciding to start their own company, as opposed to men.

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“The lending industry must also play its part. That’s why as part of our offering, we are introducing a discount on loans to companies with a female director. Our ambition is to encourage businesses with female leaders to maximise their potential and ensure they are doing so with the appropriate financial backing in place. It’s by no means a silver bullet, but hopefully a step in the right direction.” 

 

Sources:

1Data from a survey of 2,000 people in business conducted in August 2022

2 https://www.theguardian.com/business/2021/feb/23/number-of-ftse-100-women-directors-rises-by-50-in-five-years

3 https://www.credit-suisse.com/about-us-news/en/articles/news-and-expertise/entrepreneurial-gender-gap-funding-is-still-a-struggle-202201.html

 

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