Women more likely to find top roles at family-run businesses – here’s why
Family businesses are taking the lead when it comes to placing women in top roles, an analysis shared exclusively with Morning Wire has found.
The analysis, compiled from the 2023 London Stock Exchange and IPO data and conducted by Investec Wealth & Investment (UK), showed just 16 per cent of directors of the firms that completed IPOs in 2023 are women.
However, the analysis also found women make up some 30 per cent of the senior roles within some of the UK’s largest family businesses.
Tamara Marten, Senior Investment Director at Investec Wealth & Investment (UK) said: “The wealth created by family businesses is a key contributor to the UK economy and these firms in turn are major employers in the private sector.
“Family-run and founded companies offer women influential roles and are playing a key role in creating wealth for families and staff.”
Fiona Graham, chief advocacy officer for Family Business UK, said there is a “cultural element” to consider when looking at why this might be.
“Family firms put people at the heart of what they do,” Graham said.
“They have long standing employees, with whom they develop and build relationships over the long term,” she continued.
Flexible support and incentives are often found in family-run businesses, Graham pointed out, which often helps to retain and invite women back into the workforce.