By Riannon Palmer is the Founder and Managing Director of Lem-uhn, the feel-good PR agency for brands that care.

I never thought I would start a company. My childhood was full of entrepreneurial pursuits – from creating and running a magazine to trying to sell my admittedly poor video skills on our family video camera – I was always thinking about my next business venture. But I grew older, and in my teenage years forgot about my passion for entrepreneurship. There was a lack of representation of successful female entrepreneurs and the idea that I could become one seemed out of the question. In May 2021, I found myself founding Lem-uhn because I couldn’t find a positive PR agency that I wanted to work in and I knew there was a need for an agency that cared about its employees and worked with better brands.

Over the past three years while running Lem-uhn, and meeting incredibly talented female entrepreneurs, I have learnt about the huge barriers for women in business. The challenge we face to create a more equal society for business leaders is huge. One day in March is not enough to create change.

What Is International Women’s Day

Since 1911, we have had International Women’s Day every March. The day provides a chance to highlight the progress required for women to gain equality. Austria, Denmark, Germany, and Switzerland participated in the first day on 19th March 1911. Over one million people attended demonstrations to campaign for women’s rights to vote, work, train, hold public office, and end discrimination.

Now, hundreds more countries have joined and several countries even have International Women’s Day as a public holiday. The theme for 2024 is Inspire Inclusion with calls to forge women’s economic empowerment and recruit, retain, and develop female talent. It’s clear the pressing issue of the year is to support women in business. But we need more than one day to create a fairer playing field.

The State of Female Entrepreneurship In The UK

Only one in five (20%) new businesses are started by women – the highest since records began – but when 51% of the UK population is female, we are far from equal.

The percentages drop even lower when it comes to investment in female-run companies. For every £1 of venture capital investment in the UK, all-female founder teams get less than 1p, all-male founder teams get 89p, and mixed-gender teams 10p.

Instead of putting support in place to improve investment in female-founded companies, the government is reducing it. New angel investor legislation in the UK introduced on 31st January puts greater barriers in place for female founders to invest. Previously, investors on angel investing platforms had to earn over £100k. Now it’s been raised to £170k. This disproportionally impacts female investors. There are some areas of the UK with no women who earn over £170k.

Given female investors invest more in female-founded companies, this poses a huge risk for the future of women-owned businesses.

We need diverse businesses and leaders to ensure all voices are heard and represented. When women aren’t in the room, often their needs are forgotten. Research and innovation in products to support female needs lag behind those of males.

If we had equal access to funding and support, female entrepreneurs in the UK could add £250 billion to the economy. Women-run businesses produce 2.5x the amount of revenue than male-led startups. The same is true in America. For every dollar of investment raised, startups with at least one female founder produce 78 cents in revenue, compared with male-led startups who produce 31 cents.

How To Support Women In Business

Women face more hurdles to success. You can support female-run businesses year-round, not only for one day in March.

Shop

Buying from a women-owned business is the easiest way to support them. You can find amazing companies to shop with on Buy Women Built and through Female Founders Rise.

Support

For female-run businesses to thrive they need support. Women do 60% more unpaid care than men and almost double the household chores despite both sexes having equal paid workloads. Women have increasingly joined the workforce but the gendered roles in the household remain outdated and prevent women in business from thriving. You can support female-run businesses by showing your support in their personal lives.

Activism

We need societal change that supports a world in which women have the same opportunities and access in and to the business world. With increased access to free care for children and elderly parents, female entrepreneurs would have significantly more time to invest in their companies.

Champion

Word-of-mouth marketing is the most powerful form of marketing. Shout about your favourite female-run businesses. Tell your friends. Tell your family. Hell, tell your hamster. The more people talk about female-owned businesses, the more people buy from them.

Support For Female Entrepreneurs

It’s not easy to be a female entrepreneur, but there are a growing number of communities and support for us. Female Founders Rise provides resources and a community for women in business. Buy Women Built provides support and a community for product-focused female-run companies. There are also several schemes and grants for female entrepreneurs. Don’t face the tough world of female entrepreneurship alone. Reaching out to other women-building companies like yours will help you through the highs and lows.