By Kristy Dorsey
Female owners of small businesses in Scotland are more likely to be stressed and struggling to juggle responsibilities during the pandemic than their male counterparts, according to a new study.
Commissioned by the Royal Bank of Scotland, the survey suggests that Covid-19 has amplified existing gender imbalances in society. While 57 per cent of women said they had difficulties handling the demands of both running their business and family life since the beginning of the pandemic, the equivalent figure for men was 40%.
Female entrepreneurs were also more likely to worry about the success of their business than men – 51% compared to 40%.
The research stems from last year’s review of female entrepreneurship led by Alison Rose, chief executive of Royal Bank parent NatWest. That review put forward a series of recommendations to improve female start-up and scale-up rates, which it has been estimated could add £250 billion of new value to the UK economy.
READ MORE: Women are bearing the brunt of the Covid crisis and need help
At 63% of those surveyed, women were far more likely than men (38%) to report a sense of anxiety because of pandemic-induced stress and loneliness. Nearly a third of females said they had experienced challenges with mental health, compared to less than 20% of males, and more women had also experienced a sense of burnout.
Paula Ritchie, director of business development at Royal Bank of Scotland, said all owners of small enterprises should feel confident in being able to realise their potential, regardless of gender.
“The pandemic has created a unique set of challenges but through measures such as our Women in Business programme, and Back Her Business, we offer accessible expert advice on the pressures of running a small business to help SMEs across Scotland adapt and thrive,” she added.
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