More women are making money through business

Published on Monday 11 June 2007 12:05

WOMEN are increasingly making their fortunes through business, rather than inheritance or marriage, a new report has revealed.

A Barclays Wealth report showed that 83.9 per cent of wealthy women interviewed by the bank acquired their high-level income through earnings and business ownership, while 32.8 per cent generated wealth through investments.

But only 2.2 per cent won large amounts of money through divorce, while just 19.9 per cent inherited most of their cash, according to the report, which was carried out in partnership with the Economist Intelligence Unit.

The report does not give any specific examples of female entrepreneurs interviewed, but Scottish success stories include Stagecoach boss Ann Gloag, who is believed to be worth around 770 million and author JK Rowling, who is thought to have 545m after the success of her Harry Potter novels.

Amy Nauiokas, managing director and head of brokerage at Barclays Wealth, said: "While the more 'traditional' drivers of wealth still play a part, they are no longer the dominant forces they once were. While it is not necessarily a case of providing women with a different service or products, it is crucial that the wealth management industry understands the motivations and needs women have, and that a one size fits all approach to managing this increasingly influential audience may not work."

The survey also revealed that twice as many men as women - at around 15 per cent - are likely to invest in the riskier end of the financial spectrum, such as private equity or derivatives.