A record 151,603 businesses were founded by female entrepreneurs in 2022, according to the latest review by Alison Rose, NatWest Group Chief Executive.

Despite economic uncertainty, the number of women founding businesses jumped up from 145,271 in 2021, and was over double the number of female-led start-ups in 2018, setting a new high for female entrepreneurs.

The review also found growth in the number of female-led businesses during 2022, rising 16 per cent.

Sheila Flavell CBE, Chief Operating Officer for FDM Group, commented: “It is brilliant to see the increasing number of female entrepreneurs launching businesses in the UK and this continued rise will be at the centre of growing the business economy.

The increase over the past year serves as a clear example for how further investment into female leaders can empower a more inclusive scope of businesses.”

She added: “The gender gap in business won’t be solved instantly, but continued progress is essential to creating a diverse and equal workplace.

It is in the best interested of the UK to invest in female-led start-ups to boost the economy, tapping into female entrepreneurship which provides inspirational leaders for underrepresented groups and future generations. The hope is that these numbers continue to rise significantly for 2023’s review.”

The Rose Review provides an annual barometer of the disparity between female and male entrepreneurs, first commissioned in 2019 by HM Treasury based on a survey of business leaders, investors and academics.

In response to the first review in 2019, the government holds the aim of increasing the number of women launching companies by half by 2030, rising to nearly 600,000 female entrepreneurs.