Female entrepreneurs show 'fighting spirit' during downturn

Date: 26th February 2009

Britain's female entrepreneurs are showing a good deal of resilience in the face of recession, it has been claimed.

Research by the women's business support group Prowess found that a large number of female-led enterprises debt-free and financially stable, which could be down to their choice of accountant.

Despite this, the investigation also found that there had been a large increase in the number of firms seeking business advice, suggesting that further government support is needed.

Executive director of Prowess, Erika Watson, said: "Women are showing incredible fighting spirit and are at their most entrepreneurial in times of economic change.

"They have led the diversification of the rural economy over the last 20 years and they will do it again."

But, she added, specific sectors such as hospitality, services and retail - which are predominantly female dominated - need urgent government support if they are to survive the recession.

Earlier in February, the Federation of Small Businesses suggested that Westminster was not doing enough to help small firms through the economic downturn.