By the year 2020, the Government wants a third of all board members to be female. As per the latest figures, FTSE 100 companies appear to be on track to hit this target, with female representation having grown from 12.5% to 29% since 2011. However, only a quarter of FTSE 350 board members are female, showing that there is still a long way to go over the next 15 months to hit the Government’s targets.
A recent piece of research from the KSA Group has stated that insolvency rates for SMEs that are run by men are 70% higher than those run by women. The survey also returned statistics stating that females are more risk averse than their male counterparts. However, there were eight times more male respondents than female, so the data may not be truly representative of all female leaders. While this is a difficult hypothesis to prove with a small sample size, there is plenty of anecdotal evidence indicating that female leaders bring subtly different qualities to a role.
The pressing issue that we all must deal with is that, particularly within the SME arena, there is a distinct lack of representation of women at board level. While the companies with the largest market capitalisation in the country are taking steps to give more equal representation to men and women at senior levels, there is still not true equality at the highest levels of business. Moreover, the smaller the company, the more disparate the ratio of men to women board members appears to be.
The question is: ‘How do we promote women who are on the board of companies, harnessing their experiences, expertise, and use those to help inspire the next generation of female entrepreneurs, business leaders, and board members?’
Non-Executive Director positions can be an ideal way for experienced females to gain board positions, lead by example, and take growing businesses to the next level. IW Capital is keen to connect with potential Non-Executive Directors and discover what they can bring to the UK's most exciting SMEs.
If you think that you would be an ideal candidate for a Non-Executive Director role, please contact IW Capital today at firstname.lastname@example.org or call 02070152250.