£400m cost of 'missing' women

MORE than £400 million would be added to the Scottish economy if the number of women in Scotland starting up a business was at the same rate as in the West Midlands, new research shows.

Scotland still has one of the lowest rates of female self-employment and business start ups in the UK. In the Midlands, female entrepreneurship is 4.3 per cent whereas in Scotland the figure is 2.5 per cent.

The research also found that, despite an increase in female self-employment, the numbers of women supported into starting their own business via Business Gateway had dropped by 14 per cent since October 2007.

The research, commissioned by the Royal Bank of Scotland's Women in Business programme, set out a number of recommendations for the Scottish Government, including the establishment of an expert advisory group on women's enterprise to support government policy.

The paper also calls for gender-focused economic development targets.

Carolyn Currie, head of the bank's Women in Business, said the paper was set to be discussed by a number of stakeholders last night, including finance minister John Swinney.

Swinney said: "The Scottish Government will go on supporting services already in place to directly assist women to set up and develop their businesses - including the Business Gateway's 'Women into Business' networking events which take place around Scotland throughout the year.

"And it also why this reception will be excellent forum to discuss how we can all do more to ensure the good progress made continues."