British insurer Liverpool Victoria predicts that female entrepreneurs will control six-tenths of UK wealth within the next two decades.
At present, just 15 per cent of British firms are majority-owned by businesswomen, but research hints that this proportion is about to shift in the direction of the American ratio, where three-tenths of businesses are owned by women.
The number of female entrepreneurs in the UK now working as wedding organisers, therapists, or running baby food firms has boomed by 436 per cent in the past six years alone, according to research by the London School of Economics (LSE) and the Yellow Pages.
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Mothers in particular are launching small outfits that they can manage while fulfilling their role as a parent and housewife.
Small companies established by women predominately involve children's clothing and baby food, but have featured everything from dog grooming to karate tutelage. Such schemes have seen new UK-based mothers accrue nearly £4.5 billion in sales since the turn of the millennium, the LSE study suggests.
Official statistics report that seven in ten mothers who are either married or living with their boyfriend are in employment, a statistic which suggests that many mothers are struggling to support their children.
Entrepreneurship offers women financial independence and the flexibility to set timetables, work from home, earn substantial rewards and - perhaps most importantly - the chance to look after their children without having to delegate the responsibility.
Prospective female tycoons can help launch their grand business designs with a commercial loan, with scope to negotiate reasonable short-term rates and obtain a loan with which to make the necessary initial investments, be it in products, advertising or training.
If you use expertise gleaned during a former profession, particularly when your company is in the business of offering advice, it is crucial to invest in professional indemnity insurance.
This cover protects you in the event of legal action against your firm. A good policy will cover the costs of any court dispute and provide you with a lawyer, making the process as financially harmless as possible.
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This article was first published on Simply Business.