Oral Answers to Questions

Debate between Baroness Brown of Silvertown and Matt Hancock

Thursday 23rd January 2014 Commons Chamber

[Lyn Brown (West Ham) (Lab)]

13. What recent estimate he has made of the number of female entrepreneurs.

[The Minister for Skills and Enterprise (Matthew Hancock)]

There are now a record 4.9 million businesses in the UK, and we estimate that 880,000 of them are led by women, which is 18% of the total. That demonstrates the opportunity for this country, should we manage to get that proportion up.

[Lyn Brown]

Evidence shows that companies with more women in positions of power outperform their rivals. Does the Minister agree that we cannot afford not to make progress in securing more women in positions of power? If so, what will he do about it if companies do not hear him asking them nicely?

[Matthew Hancock]

I, too, have seen the research showing that companies with women at the top tend to perform better than those that have only men. That balance in the boardroom is vital, and I am a strong supporter of the agenda the hon. Lady promotes. More than 4,000 start-up loans have gone to women, and we are bringing in a new partner directed precisely at people who are returning to work after having children. For the bigger picture, ensuring that we have more women on boards is a campaign we are working on across the Government.