It's the business

LITTLE girls dream of being a pop star, a ballerina or an Oscar-winning actress (they know precisely which dress they'll wear and they've already written their speech in pink felt-tip on the back of their maths book).

But what do little girls dream about when they grow up? Being their own boss.

A new survey by handbag.com has revealed that eight out of ten women dream of owning their own business. However, 47 per cent of them never follow their dream.

Nationally, fewer than 30 per cent of business owners are women and, in North Yorkshire, men are two-and-half times more likely to be company directors than women.

So what is stopping women realising their business ambitions?

According to Laura Morrison, project manager of the Women In Enterprise initiative run by York and North Yorkshire Chamber of Commerce, the problems are threefold.

"The main problems that come up again and again are: access to finances, childcare and lack of confidence," she said. "These are the big ones as far as women are concerned."

She is quick to point out, however, that men also have their own problems to deal with when it comes to setting up in business.

"There is no real difference in terms of the number of barriers they have to face," she said. "The difference is in attitude. Historically, women have been the risk assessors and men the risk takers. I think there's still some truth in that."

More women are thinking about taking the plunge. Since taking up her position six weeks ago, Laura has taken 50 calls from local women considering setting up their own business and looking for guidance.

"The number of women I've spoken to has astounded me," she said. "We didn't predict this level of interest.

"Women are attracted to running their own business because of the flexibility and independence it offers. It's also a way of getting beyond the glass ceiling that many have come across in employment."

Gemma Magson, 25, didn't have a chance to bang her head on the glass ceiling because she went into business straight from school.

She now runs two florists, both called the Topiary Tree, in Malton and Helmsley with her mum.

"I never wanted to work for anyone else," she said. "You get so much more out of work when you run your own business.

"It's not just about the money - I wouldn't be doing this if it was - it's about the satisfaction and recognition."

Gemma admits that she had it easier than most women. She was young and she didn't have any commitments.

"It was a risk, but it was a limited risk," she said. "If women have children and a home to think about, I can see that it would be more daunting.

"Running a business takes up a lot of your time and, unlike working for someone else, you can't switch off at 5pm. Your work always goes home with you."

The main incentive for women to set up a business is flexibility. According to a survey by the Royal Bank of Scotland, 54 per cent of women opt for self-employment so they can choose the hours they work.

Women also tend to set up businesses in sectors they're interested in rather than those where they can make the most money.

"Whatever business you choose, do your homework before committing yourself to anything," Gemma advised.

Di Burton, managing director of Harrogate-based Cicada Public Relations, has more direct advice to women considering setting up their own business - stop whinging and get on with it.

Writing in the Evening Press's Straight From The Shoulder column (see www.thisisyork.co.uk and click on "business"), she said: "Too often your biggest hurdle is your own ingrained attitude; your hackneyed knee-jerk reaction to sexism.

"As long as too many of us women continue to operate on a whinge and a prayer we've got a problem."

Di knows what she's talking about. She arrived in Harrogate 18 years ago with two small children, no house, no friends and no family. She succeeded in her chosen field through "sheer drive and determination".

Rather than treating their gender as an affliction, she believes women have to learn to appreciate their attributes.

Research by the Chartered Institute of Personnel and Development reveals that women make better managers because they are more emotionally intelligent and are better at multi-tasking.

But if that multi-tasking involves juggling kids, a house, a life, a tight budget and a severe case of low self-esteem, how can we tempt more women to take this daunting plunge?

"We need to demonstrate the benefits of starting up in business, and the huge rewards awaiting women," said Di. "These are not often financial, but include recognition, a nurturing of staff and self-development opportunities.

"Besides, you get to meet and work with such interesting people, and when you run your own business no two days are the same."

Top business tips

If you are tempted, check out these top tips for setting up your own business.

Prepare yourself for the commitment - be clear about your idea and make sure your family are on your side.

u Don't underestimate the work and finance required - businesses usually cost more and take up more of your time than you think.

Know your own skills - if you're lousy on finance seek advice, don't muddle along on your own.

Test the waters - don't quit your job straight away but use your spare time to do market research.

Use all sources of free advice - you probably have self-employed friends who will help, and speak to local enterprise agencies, and training and enterprise councils.

Find out if you're eligible for a grant - 45 per cent of self-employed women look to government grants to finance their business.

Make sure your product's a must-have: it doesn't need to be a completely new idea but make sure it's something you can convince people they need.

Don't forget the legal side - make sure your product's protected and you know your tax and employment obligations.

u Draw up a detailed business plan. Make sure every assumption you make in it is justified and that it is convincing to potential financiers.

Have a contingency plan - what would happen if your key employee stopped working, or a new competitor entered the market?

Updated: 09:19 Tuesday, August 24, 2004