This story is from an episode of Woman’s Hour presented by Jane Garvey. To listen to more episodes of Woman’s Hour from BBC Radio 4, please click here. Adapted by Sarah Keating.



Will 2018 finally be the year that you turn your pet project into a money-spinner? Sadly, for most women, this dream is less likely to become a reality. Research from UK bank NatWest found that women are a third less likely to start a business than men, with fear of failure cited as a major barrier.

So what’s stopping us?

Blogger, podcast host and writer Emma Gannon has a theory. She thinks women are going through a collective confidence crisis. “We’ve got all the tools, we’ve got a wi-fi connection, we’ve got all of these inspirational people around us, we’re seeing what other people are doing on social media all the time. But yet there’s something standing in our way.”

She says three main challenges hold them back: time, money and confidence. “I think if we can conquer those we’ll be starting more businesses.”

Otegha Uwagba is the founder of Women Who, an organisation that connects and supports women in the creative industries. She works with women who run businesses, either as side gigs or full-time.

“It’s really important to identify a niche and find something that other people aren’t doing,” she says. If you’re not doing something completely new, having a unique selling point – your spin on an existing idea – is vital. “That’s the key to your success.”