Self-employment is the key to a better quality of life. For most women in this study their main motivation for starting a business was to increase their flexibility and improve their work life balance. The flexibility that they have experienced as a result of being their own boss is one of the most enjoyable aspects of being self-employed. Other rewards include a sense of fulfilment and pride in their achievements.

Most women in this study had started their ventures in areas where they had previous experience. They had started with small amounts of funding and had grown organically. Despite the recession they were optimistic about future growth.

An interesting finding of this research is that younger women were more likely to be motivated to start ventures to make money or fulfil a dream than older women. They were also more likely to have family role models to inspire them and more likely to be comfortable with the term entrepreneur.

The women in this study believed entrepreneurship could be encouraged by having more female role models in the media, more mentors and better access to business training. They also thought that entrepreneurship had a masculine persona and that this needs to change.

Their tips to other women included the need to undertake extensive market research, work hard and believe in yourself.

This study, commissioned by Avon Cosmetics, explores self-employment and entrepreneurship in women in the UK. A full summary of the report is now available below, let us know what you think in the comments box.