To celebrate International Women’s Day – and 100 years since women got the vote in the UK – we’ve looked into our small business data to find out which female-run businesses earn the most.
Previous studies have shown that women make more successful entrepreneurs than men and that it’s women who are leading the way in the small business sphere. These are the trades and professions that are earning women the most.
Our research shows that female-owned restaurants have the highest turnover compared to other female-owned trades. 13 per cent of all female-owned restaurants have a turnover of over at least £500,000.
This is closely followed by building businesses, in which one in 10 female-owned businesses have a turnover of over £500,000. In fact, female tradespeople are thriving, with plumbers and electricians also making the top 10, in seventh and 10th place respectively.
Software development – another notoriously male-dominated sphere – has also proved to be lucrative for the women who work in it, with it taking fourth place on the list.
Since 2014, the number of female-led business types turning over more than £750,000 has more than doubled, from 20 four years ago, to 50 in 2017. The types of trade earning over £750,000 include the likes of builders, recruiters, and property specialists.
The female-run business landscape has also changed since 2014. Back then, the some of the highest earning professions for women were hairdressing, market trading and domestic cleaning.
Fiona McSwein, our Chief Customer Officer, said: “One hundred years after women got the vote in the UK, it is brilliant to acknowledge and celebrate female entrepreneurs around the country. Their hard work, expertise and commitment contributes significantly to the UK economy, and it is important that they are supported and encouraged as they grow their businesses.
“Our data shows the fantastic variety of career paths female entrepreneurs have chosen. At Simply Business we are so proud to insure the success of female-run businesses up and down the country.”
Happy International Women’s Day, and here’s to all the female business owners who today – and all year round – embody the theme of this year’s IWD and #PressForProgress.
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