IT SEEMS that businesswomen are better placed to survive the recession than businessmen. Who would have thought it?
Women have been told for centuries that they aren't – and can never be – as successful as men; we're less aggressive in business, less assertive, more concerned about staff than making a vast profit, too emotional, too family-focused, too scared to
take risks. The list goes on. But today, for those very reasons, the fairer sex is in a stronger position to trade through the economic downturn.
These traits are now being held up as shining examples of best practice in business. According to a recent survey, female entrepreneurs have different business models, they are more concerned about making sure they don't over-extend themselves financially and, as a direct result, tend to be much more cautious about bank borrowing.
This lower-cost business model, combined with the touchy-feely traditionally feminine traits of using encouragement and motivation to drive the business forward, is much more sustainable than simply taking on more debt for ambitious growth and development.
As a direct result only half of the women interviewed for the research carried out by Delta Economics saw the health of the economy as a challenge, compared with two thirds of the men. In addition, the female business founders were also less concerned than their male counterparts about barriers to finance.
Which is probably why last week we saw public calls to appoint women to the boards of the UK's recapitalised banks. In fact, the Cranfield School of Management went even further and suggested the country might not be in quite such a dire situation if there had been more females on the boards of banks. I couldn't possibly comment.
The Female FTSE report said women should be considered for new board positions in banks bailed out by the Government to counter the male dominance of senior directorships at the biggest companies. Ruth Sealy, co-author of the report, insists the evidence they found clearly demonstrates that women are not more risk-averse – just more risk-aware. The report even recommends that companies need to make a greater effort to improve the gender mix on senior corporate boards, and suggests that firms should advertise all directorships and aspire to having women making up 30% of candidate lists.
So, we can sit comfortably in our boardrooms, smug in the knowledge that women are emotionally stronger, fundamentally better at business, and can deliver a higher average return on equity, higher return on sales and higher return on invested capital (according to recent US research into Fortune 500 companies with the highest proportion of female directors). Can't we?
Not yet. So far these are only words, albeit emphasised firmly with the comprehensive weight of Fortune 500 company experience, and an "I told you so" from the country's top business school. The evidence clearly shows that none of it matters.
Just look at the number of women in top posts in Scotland. Only 12.5% of local authority chief executives are women, 7.4% of senior police officers, and 11.8% of Court of Session judges. And you can probably count on two hands the number of multi-million-pound businesses started by women.
Well maybe now is their time. Maybe our economy is finally ready for the nurturing, nourishing, encouraging approach to business.
There's some interesting, controversial even, research commissioned by Microsoft that has revealed over the next 25 years the UK workplace will be dominated by women.
According to The Future Laboratory, which explored the future of business working in Britain, the 21st century will be defined by workers who can be "lateral, collaborative, flexible and creative". In short, the most sought after employees will be those who use the right (or female) side of their brain.
The report also claims that both men and women believe new mobile technology will make it easier for women to compete in the working environment, and that the UK workplace become dominated by females and female-orientated working practices.
The future's bright, the future's female. So if you want to survive in business you can either get in touch with your female side, or appoint one to your board.
