In an age where it feels as though more and more young women are at the helm of companies or starting their ‘own thing’, it’s easy to forget that women under 30 are still a minority in terms of launching, running and sustaining a successful business. According to a report by RBS
, UK women’s businesses have a higher churn rate than any other. This means more start-ups – but at the same time, more closures.
Interestingly, the same report found that women are also less likely to attribute closure to "business failure" and more likely to cite "personal reasons", which statistically peak at age 25-34. Hmm. This all paints a rather gloomy picture that seems at odds with the current feeling of ‘girl-bossing’.
However, despite women only representing 17% of business owners, there’s been a continual rise of female self-employment post-recession; women account for a huge 80% of the new self-employed, showing that things must be changing. And if you’re paying attention to women-run business, a week doesn’t go by without a new tech start-up, food venture or fashion label hitting our radar.
To find out what it's like to be a young, female entrepreneur, we asked some of our favourite women in business under 30 what challenges they've come up against, whether personal or professional. From shutting up shop to navigating impending motherhood, these women prove that no challenge is too great – and that there’s never been a better time for women to strike out alone, business plan in hand.
Click through the slideshow ahead to get inspired...