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Women's Enterprise Innovation & Ideas Discussion Group

12th January 2012

Background

This newly conceived Enterprise & Innovation Group will bring together representatives from a range of agencies, businesses and organisations, pan-Wales, who have a particular interest and expertise in women-led business start-up, business growth, social enterprises and business support (policy and practice).

The first of these conversation sessions was held at the Future Inn in Cardiffon 15^th November, as part of Global Entrepreneurship Week.  Personal invitations to a range of experts in the field of business and enterprise in Wales were circulated and 15 responses were received, together with apologies for those who were not able to make it on the day, but wished to be included in future events.

The format for the session was agreed with Brace Griffiths, Senior Manger, Business Start Up Services at Welsh Government, Department for Business, Economy, Technology & Science (BETS) who also attended and contributed to the discussions.  Also in attendance was Rachel Fleri, one of the Entrepreneurship Champions inWales.

The inaugural discussion focused on:

 “Triggers for Enterprise:  creating opportunities to engage and encourage more female-led businesses”

This report of the round table discussion highlights the key points and actions identified by those present in promoting enterprise, and female enterprise in particular, and where challenges, constraints and best practice can be explored in more detail.

INVITED PARTICIPANTS

Apologies

Summary of discussion

Triggers for Enterprise: creating opportunities to engage and encourage more female-led businesses

Creating a climate of growth and prosperity is key to seeing an increase in the numbers of women starting businesses and social enterprises inWales.

The Enterprise Journey typically comprises three stages: fertilisation, incubation and nurturing. Problems occur when the individual starting out in business faces obstacles at one or more of these stages. These obstacles will be different for each individual and therefore their needs will need to be addressed on an individual basis. There was a consensus that the overall driver for business success and sustainability was identifying clients/customers and fulfilling the business need. “Without customers/clients, you haven’t got a business….”

Extensive discussion about what is happening in Wales and Chwarae Teg reported that Welsh Government/BETS had recently commissioned a series of Exploring Enterprise workshops to reach those women who were not ready to embark on their new business ventures, but needed additional support in developing ideas, assessing viability of business and confidence in knowing where to go for further information. These workshops do not replace current business support provision inWales, but add value and provide a seamless transition from idea to start-up.

There is a tendency to showcase major business successes by women e.g. Hayley Parsons / Rachel’s Organic Dairies. However, each individual aspires to a different level of success and for some women their business will simply allow them a part-time salary in order to pursue a particular passion or life-style. The Dynamo Role Model programme has been very successful in placing successful business people into schools etc. to talk about their business journey and share experiences. This project could easily be adapted for adults and more widely used in business skills training and development.

It was agreed that access to finance is still a major issue for some women starting out in business. Discussion around micro-finance and peer-lending identified opportunities for some women who do not have access to traditional borrowing. Although micro-finance is well established in Europe, it is not widely promoted inWales.

Triggers for starting-up business in Wales

In an example of three start-ups by women aged between 40-60 years the following different triggers were identified:

• Redundancy
• Accident
• Life changes

A small start-up fund was required to get each business idea off the ground, but this money needed to be given to the individual directly as opposed to training providers, legal or marketing services etc. The conditions and monitoring of applications for the Enterprise Allowance Scheme, for example, also means that money is not accessible to all. The distribution of money needs to be structured to meet the needs of the individual, equipping them to begin the enterprise journey immediately.

Other triggers to becoming self-employed/starting a business

Money, independence and obstacles on the career ladder are all triggers which lead women to becoming self-employed.

Welsh Government’s Brace Griffiths provided a brief update on what will be happening around Business Support inWalesin 2012 with the introduction of a revised business start up support service which takes into account the recommendations of a recent evaluation. The revised service aims to further improve on a successful service.,

The revised service will see the delivery of a tailored service to meet the needs of the individual, additional post start-up support and increased support for those businesses with potential for growth.

Rachel Fleri will be looking at Train 2000/Women’s Centre in Liverpool to advise the Welsh Government on how it could work inWales. The Centre inLiverpoolhas been part funded by the European Regional Development Fund and provides a range of services and incubation units for new businesses, in addition to providing training and business support.

The Welsh Government has provided funding for 10 new micro-businesses at the Coleg Morgannwg new build in Treforest to encourage new start-ups.

Demographics

The Welsh Government collect disaggregated data around business starts inWalesand in some parts of North Wales, 50% of the start ups are women-led whereas in parts of South Walesit is nearer 20%. In the rural hinterland ofWales, self-employment is a natural choice for women where few employment opportunities are available.

Social Enterprise

There was also discussion around the value of social enterprises in building capacity, skills and qualifications in those communities where career choices are often limited. It was further acknowledged that social enterprises are an increasing contributor to economic activity inWalesand growing in status.

How do we raise the image of women in business in Wales?

It was suggested that we need to be more pro-active in securing the attention of people such as Sion Barry, the Western Mail’s Business Reporter, to promote success stories of women-led businesses.

The session was brought to a close after a very lively debate and some key points were agreed:

• There was a need for another workshop for women between exploring enterprise and accessing mainstream business courses. This incubation session could focus on nurturing business ideas, greater support in market research, assessing viability of ideas before progressing further.
• Expanding the DYNAMO project with adults in mind for community groups, Women’s Institute/Merched y Wawr etc. to promote self-employment and share experience and knowledge.
• Opportunities for new and growing businesses to access public-sector and Welsh Government contracts. Currently those contracts on offer are not disaggregated and values are too high, or do not have social clauses built in, thus excluding newer bidders.
• We need to “re-define” what we mean by growth in Wales. This was discussed in detail, particularly, what constitutes “growth” and who decides.
• Micro-finance/accessing business finance is still a constraint to many nascent and growing businesses and business finance will be the next topic for discussion.

The session was brought to a close with Welsh Government’s Brace Griffiths summing up the key points he will take away and consider and will feed back at the next session early in 2012.

Thanks were extended to all who contributed to this lively debate and best wishes to Rachel Fleri in her business and her role

The next round table debate will take place in February 2012 and the topic will be focus on “Women accessing business finance”. 

Did you Know?

"Companies with 30% women in senior positions are more likely to have a culture where all women thrive"

- London Business School