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Dell Women's Global Entrepreneurship Study - U.K. Key Findings
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Dell Women's Global Entrepreneurship Study - U.K. Key Findings

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New survey research released by Dell reveals optimism and opportunity for women-owned businesses in the UK. The …

New survey research released by Dell reveals optimism and opportunity for women-owned businesses in the UK. The
survey examined indicators of business confidence, along with their motivations, financing options, and sources of
support.

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  • 1. Dell Women’s Global Entrepreneurship Study: UK Key FindingsNew survey research released by Dell reveals attributes and attitudes of female business owners in the UK. Thesurvey examined indicators of business confidence, along with their motivations, financing options and sources ofsupport.Highlights• Women Business Owners in the UK consider their business to be successful but are not confident about the future: 90% consider their business to be successful - when asked about expectations for business growth, women entrepreneurs in the UK said they expect a median growth of 24% over the next five years.• Opportunity for Technology: 51% say their technology needs are getting more complex.• Quit Your Day Job? 47% started their business while maintaining their day job.• Positive Social Impact is Important: 68 % believe it is important that their business has a positive social impact.• Do it With Others: Spouses were the top source (41%) of advice when starting a business.Technology• 7 in 10 say technology supports basic day-to-day operations.• Nearly 3 in 10 say it’s a strategic component of their business.• 51% say their needs are more complex than they used to be and their technology needs to perform at higher levels, 45% say their technology needs have not significantly changed, 5% say their needs are less complex than they used to be and their technology has scaled down.• How they handle technology needs:  Handle it themselves (48%)  Use a freelance technology specialist (27%)  Have a dedicated in-house team (23%)  Use an outside company (15%)  Use a value-added reseller or system integrator (3%)  Other (5%)• Biggest technology needs are cutting costs, compatibility with software currently used, and data security.Funding• Personal savings is the top source for funding a startup business (49%); Other sources:  Banks or credit unions (27%)  Family members (24%)  Other (15%)  Colleagues (14%)  Business acquaintances (10%)  Venture capital firm (4%)  Government grant programs (5%)  Crowd funding (3%)  Angel investors (3%)  Friends (3%)• Business acquaintances were most difficult sources from which to obtain funding.• Friends were the easiest sources from which to obtain funding.• Obtaining low interest loans (27%) and finding a trustworthy lender (12%) were the biggest obstacles to bank or credit union financing.• Finding a co-signer and income were lesser obstacles to bank or credit union financing.• The median amount of capital needed to start a business is $8,060.Penn Schoen Berland (PSB) conducted online interviews with 150 female entrepreneurs in the UK between April13th and April 16th, 2012. The survey margin of error is +/-8%.

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