Women in the UK see business as a force for good

 

More women in the UK take the lead on owning businesses

  • High-net-worth individuals (HNWIs)
  • UK HNW women
  • UK HNW men

26% of HNW women surveyed in the UK are business owners or entrepreneurs: a higher share than women—or men—in any surveyed region.

More women want to become business heirs.
I wanted/want to take over my family business

35% 24%

92% of HNW women in the UK say they have greater opportunities to own businesses than they did in previous generations.

Not only are more women than men running businesses in the UK, they also want to pass down what they've built.
I want/wanted my family to take over my business:

UK HNW women
42%
UK HNW men
24%

More female than male entrepreneurs in the UK define wealth based on business impact

The definition of wealth for business owners in the UK includes:

Economic impact of their business on the communities in which it operates Value of their business Ability to create change with their business through corporate giving 35% 12%

Women in the UK want their businesses to make a dual impact

Compared to their male counterparts, female business owners in the UK more often think it's important to make a positive charitable impact on the communities in which the business operates.

UK HNW women

15% Strongly agree 58% Somewhat agree

UK HNW men

8% Strongly agree 40% Somewhat agree

More female than male business owners in the UK think it's important to make an economic impact on the communities in which the business operates.

UK HNW women

23% Strongly agree 42% Somewhat agree

UK HNW men

12% Strongly agree 44% Somewhat agree

Legacy means both business growth and social impact

  • UK HNW women business owners
  • UK HNW men business owners

More female than male business owners in the UK cite growing their businesses as a top life goal:

8% 23%

And that's not all they're interested in—more female than male business owners in the UK define legacy based on making a social impact on the world: 31% vs. 4%

Footnotes:

Data based on an Economist Intelligence Unit survey conducted from March to May 2018.
The research, commissioned by RBC Wealth Management, surveyed 1,051 HNWIs across Asia, Canada, the UK and U.S.
The survey included 207 respondents in the UK with at least US$1 million (£743,000) in investable assets.
Business owner and entrepreneur respondents include 25 UK men and 26 UK women. Due to the smaller sample size, results are directional in nature.

Disclaimer:

The material herein is for informational purposes only and is not directed at, nor intended for distribution to or use by, any person or entity in any country where such distribution or use would be contrary to law or regulation or which would subject Royal Bank of Canada or its subsidiaries or constituent business units (including RBC Wealth Management) to any licensing or registration requirement within such country.

This is not intended to be either a specific offer by any Royal Bank of Canada entity to sell or provide, or a specific invitation to apply for, any particular financial account, product or service. Royal Bank of Canada does not offer accounts, products or services in jurisdictions where it is not permitted to do so, and therefore the RBC Wealth Management business is not available in all countries or markets.

The information contained herein is general in nature and is not intended, and should not be construed, as professional advice or opinion provided to the user, nor as a recommendation of any particular approach. Nothing in this material constitutes legal, accounting or tax advice and you are advised to seek independent legal, tax and accounting advice prior to acting upon anything contained in this material. Interest rates, market conditions, tax and legal rules and other important factors which will be pertinent to your circumstances are subject to change. This material does not purport to be a complete statement of the approaches or steps that may be appropriate for the user, does not take into account the user’s specific investment objectives or risk tolerance and is not intended to be an invitation to effect a securities transaction or to otherwise participate in any investment service.

Royal Bank of Canada disclaims any and all warranties of any kind concerning any information provided in this infographic.

© The Economist Intelligence Unit Limited 2018

Produced by:
The Economist Intelligence Unit