Why women mean business

Kate Thurman,
Barclays Wealth






In wealth management we always advocate a well diversified portfolio of assets in order to gain the maximum return whilst attempting to minimise the risks – this is an approach which could also be applied in a wider business context.  In an economic climate where business risks are acute, surely it makes sense to draw upon all the available talent, expertise and intelligence in order to fully identify the potential risks and develop ways to minimise them?  Gender equality is no longer a “women’s issue” but a business issue.

Harriet Harman’s assertion that British banks would have been more risk averse if they had had more female managers pre-credit crunch, has reinvigorated the debate around gender equality in the work place. However, for me, the debate should be a wider discussion of diversity.

If a business decided to expand into, say, China, they would target their market appropriately – by learning the language, understanding the culture and employing local staff.  Applying a ‘one-size fits all’ approach seems nonsensical in this situation – so why do we treat male and female clients the same?

Women account for nearly half of the millionaires in Britain and with female wealth growing by almost 11% every year, this proportion is expected to increase to 53% in 2020 and 60% in 2025.  In the past many wealthy women have acquired their wealth through divorce settlements or inheritances, but now women are creating their own wealth. Recent government figures show that half of all small and medium sized businesses are run by women, and in 2006 for the first time, women accounted for 1 in 4 of Management Today magazine’s annual list of top 100 entrepreneurs.

In 2006 the Women in Work Commission calculated that if women’s skills were better harnessed the country would gain £23bn, equivalent to 15% of the expected UK budget deficit in 2010. 

Women are a significant and often overlooked potential market for professional services, as well as being some of the most inspiring thought leaders for our industries. This why women mean business…

to find out more about our pro.women initiative click here