Smash the Tabletop: It’s time to grow to £1 million

​Today saw award winning female entrepreneur Carmel Jane launch a powerful movement of entrepreneurial women that will be a collaborative force for change across the East of England. Addressing the persistent barriers that prevent more female owned businesses reach the 1 million pound turnover threshold.

​​Today saw award winning female entrepreneur Carmel Jane launch a powerful movement of entrepreneurial women that will be a collaborative force for change across the East of England. Addressing the persistent barriers that prevent more female owned businesses reach the 1 million pound turnover threshold.

A recent government commissioned study into female entrepreneurship* has found some glaring inequality around male and female entrepreneurs, some of the stats make for stark reading:

• Only one in three entrepreneurs are women, a gender gap equivalent to over one million fewer female entrepreneurs in the UK
• Businesses that are run by women are on average half the size of male-led firms and far less likely to scale up to a £1 million turnover
• If they do start-up a business, UK women entrepreneurs are also less likely to scale up to £1million turnover than men. The Rose Review suggests that once established, 29% of male entrepreneurs will eventually achieve £1–50 million turnover. Only 13% of women running established businesses make this leap. This is despite the fact that women are as successful as men in sustaining a business once established, with 73% of entrepreneurs of both sexes running businesses older than 3.5 years
• Closing this gap between women and men could add an additional £250 billion in GVA to the UK economy, equivalent to 4 years of economic growth

 
Tabletop to £1 Million is the brainchild of Carmel Jane an award-winning photographer who set up her successful business back in 2006. 2019 saw her reach the 1 million threshold and now she wants to help other ambitious women to achieve the same.
 
Carmel Jane founder of Tabletop to £1 million comments: ‘The way I see it, as female business owners we need to make ourselves heard by government policy makers, but ultimately we also have to help ourselves.  By coming together and starting the conversation I believe we as a community of female business owners can drive real change’
 
Carmel Jane is launching her movement with a three-tiered campaign: ‘it is essential that we make it very clear what we’re fighting for:
1. Ease the burden of family & childcare for female entrepreneurs
The Rose Review found that:

• Women are twice as likely as men to mention family responsibilities as a barrier to starting a business.

• In addition, for female entrepreneurs with children, primary care responsibilities are the first barrier to further business success, 46% of female parent entrepreneurs identifying it as a “very important” or “important” barrier versus 33% of male parents with businesses

We believe that two things need to happen that would help all women:

• Childcare must become tax deductible – as the employment of a PA is
• The 30 free hours scheme must start for children younger than 3 years old

 
 
2. Make mentoring more accessible to female entrepreneurs

• 31% of women surveyed highlighted the importance of networking as a business skill, compared to 21% of men
• Only 30% of women said they already knew a female entrepreneur

Traditional networking methods are a barrier to female entrepreneurs; breakfast and evening events are often inhibitors due to the care responsibilities of family life.
Through Tabletop to £1 Million we will create a forum where the burden of care can be honestly addressed and create a community of female businesses owners committed to pledging the time to mentor another woman.
 
3. Make growth support accessible to all female entrepreneurs
Many female entrepreneurs work from home relying on the digital world to communicate and create wider opportunities.
 
Tabletop to £1Million will create a female founder digital growth hub;
 
•             Including practical help and top tips
•             Podcasts with inspirational women through the Scale up Stories series
•             Inspirational videos
•             Ideas for better digital working (Slack/Zoom/Skype)
•             Social Media promotion & Networking
•             Virtual Networks
 
Carmel Jane says: ‘We have to tell ourselves to dream bigger, believe bigger and make a difference.  We have to reach for more opportunities, and we have to demand that government and business groups (whether national, regional or local) do all they can to support us not hold us back as we scale our businesses up.’