Did you know that up to £250 billion of new value could be added to the UK economy if women started and scaled new businesses at the same rate as UK men? The question therefore does not only concern gender equality as usual, but also what is good for business and the economy of a country in general.
In 2019, the proportion of women in senior management roles globally grew to 29%:the highest number ever recorded. Looking only at startups, there were approximately 252 million women entrepreneurs around the world, at the beginning of 2019. As of May 2020, 19 countries are being led by women.
Numerous studies show that women-led companies tend to perform better than those led by men. One fascinating analysis found that women CEOs in the Fortune 1000 drove three times the returns as S&P 500 enterprises run predominantly by men!
The reality though, is that tens of thousands of new mums every year (on average, 50K in the UK and 40K in Italy) resign from their jobs because they're struggling balancing work responsibilities with travel time in relation to their little ones' needs. Especially if they don't have relatives available or the funds to pay a babysitter.
Also, what impact is the COVID-19 pandemic having on women?
According to the United Nations report, dated October 2020, "Unpaid domestic and care work falls disproportionately on women, restraining their economic potential as the COVID-19 pandemic additionally affects women’s jobs and livelihoods". If the United Nations are right, the pandemic could end up throwing decades of advancement on gender equality in the bin.