The Cripps manifesto for empowering female leaders and business owners
Creating a supportive ecosystem for female leaders and entrepreneurs involves a combination of policy interventions, organisational changes, and individual initiatives. It also involves addressing societal barriers and challenging stereotypes that may hinder women's career progression. Responses to our survey indicate that the existing policies and workplace attitudes are not as effective as they could be in enabling women to advance and grow their businesses.
Policy-level interventions
Despite some progress, such as the UK's target of 40% female representation on FTSE 350 company boards, the current policy landscape still falls short of adequately supporting female-led businesses, particularly in the mid-market. We would encourage more robust and targeted policy interventions:
01
Strengthen compliance with anti-discrimination laws via the planned single enforcement agency or by expediting tribunal hearings
02
Introduce board and mid-management quotas to create equality in the workplace
03
Ensure access to mentorship, education and training for women aspiring to entrepreneurship
04
Extend and enhance childcare provisions and enhanced pay for both parents taking family leave
05
Create a dedicated government venture capital vehicle for mid-market businesses
Organisational change
At the organisational level, businesses can implement a range of measures to support female leaders and create more inclusive environments. While policy interventions and government initiatives are crucial, businesses also play a pivotal role in breaking down barriers for female leaders and can drive change quickly. Here we propose various measures that businesses can implement to foster a more inclusive and supportive environment for women in leadership positions:
01
Increase transparency and easier access to funding options
02
Promote flexible and dynamic work environments
03
Encourage female representation in finance by increasing the number of women in investment positions, such as angel investors, venture capital and private equity
04
Implement enhanced mentorship and networking opportunities to help build confidence
05
Implement diverse hiring and promotion practices, including inclusive job descriptions and training for promotions
06
Mandate training on gender bias and unconscious bias
07
Level the playing field by supporting access to childcare
08
Recognise and celebrate female success, for example through awards for women
Personal measures to support career progression and female leaders
Achieving gender parity in all facets of business leadership requires long-term societal change, including shifts in cultural norms, policies, and organisational practices. However, individuals can play a crucial role in supporting this shift by advocating for equal opportunities, challenging stereotypes, and promoting inclusive environments. Here are some practical steps individuals can employ to support this change:
01
Building a strong network of professionals and mentorship
02
Championing women and allyship: advocating for each other and creating a supportive environment for the next generation
03
Feeling empowered to speak up and promote accomplishments
04
Both men and women to call out and challenge gender assumptions
By addressing these key areas through targeted policies and initiatives, we can work towards breaking down the barriers faced by female-powered mid-market businesses in the UK. These calls to action provide a roadmap for creating a more inclusive, diverse, and supportive business environment, empowering female leaders to thrive and succeed.
Conclusion: The foundations are in place for true equality
In the UK, women were only able to get credit cards in their own names in 1974. Fifty years on, we are starting businesses, raising finance, and achieving C-suite positions – but progress remains hampered by gender bias, rising costs of living and housing, and a slow pace of policy and societal change.
The experiences of our leadership panel are testament to what women can achieve in business. While personal qualities are undoubtedly important – such as determination, curiosity, work ethic and creativity – it is clear that business parity will not be achieved without external intervention.
Women must have the ability to balance personal lives with business success. We must be able to access networking and finance without feeling held back, however unintentionally, by a ‘boys club’ which fails to recognise the value of their experience, responsibilities and a different perspective.
This is why we believe that now is the time to call for actionable policy measures and clear organisational frameworks. It is only with the clear ambition and action of the government and the business community that the next generation of business leaders – of all genders – will be able to work together to achieve true equality.