The Female Entrepreneurship in Comparison to Its Male Counterparts in Essay

The Female Entrepreneurship in Comparison to Its Male Counterparts in UK - Essay Example The involvement of women in entrepreneurship is crucial for the growth of every nation's economy. In the UK, women gained the right to vote only in 1918 (Peele, 2004 p251). This shows that women were marginalized in the past and were prevented from taking a full and active part of the economy. However, ninety years after women gained the right to vote in Britain, the lot of women has increased significantly. In the 1970s, women became more proactive in matters relating to entrepreneurship. This paper examines the trends in the increase in the numbers of women involved in entrepreneurship in the UK since the 1970s. It identifies the core concepts of and theories of female entrepreneurship in relationship to changes in trends and improvement the bridging of gaps between UK female entrepreneurs and their male counterparts. It also evaluates the elements of female entrepreneurship in Britain in relation to female entrepreneurship in other nations around the world. Theories of Female Entr epreneurship Female entrepreneurship is a combination of structured and chaotic methods which lead to women establishing and running businesses (Ho Chu, 2004 p111). This means that there are two main ways that female entrepreneurship comes up. In the first route, female entrepreneurship is a conscious effort made by females to set up businesses by learning the art and science of entrepreneurship. This way, there are structured methods and means that enable women to set up businesses. On the other hand, Casson et al (2008) identify that most women find themselves in entrepreneurial positions by circumstances which lead them to take up business ownership positions around the world. Thus, in this context, female entrepreneurship is simply seen as a phenomenon whereby women establish or gain ownership of businesses in a given nation. This conception, therefore, views the process through which females get to rise to this level. Another view put forward by Carter (2005 p11) is that female entrepreneurship can best be evaluated and understood if it is viewed in direct contrast to male entrepreneurship. In this vein, Carter begins her thesis by stating that entrepreneurship has been traditionally viewed as a man's thing. As such, the involvement of females is a study that is meant to bridge the gap that has been created by the stereotypes that have existed in society for generations. Whereas the first view examines the procedure through which a woman acquires the position of entrepreneurship, the second view tries to view the whole concept of female entrepreneurship as a method of reducing the injustices of the male-dominated society. Thus, the second view diagnoses the reasons why women are not often seen in business ownership roles and try to find ways of addressing the issue. This has been seen as a feminist position because it adopts a conflicting position to the status quo and demands some degree of recognition of women through positive discriminatory measures wh ere necessary (Greer & Greene, 2004). Either way, the fundamental view of female entrepreneurship is to identify the characteristics, training and innovation systems that are necessary to keep females in business ownership roles (Ho Chu, 2004). It involves amongst other things, the motivation, expertise, and expectations that female entrepreneurship adds up to society (Carter & William, 2003).