Research by Dr Tim Leunig of LSE's Economic History department was launched this week by Yellow Pages. The in-depth study, which focused on business mums' lives, identifies a new breed of enterprising female entrepreneurs, 'Kitchen Table Tycoons', who successfully juggle the roles of mother and magnate.
From an economics perspective, the findins show that female entrepreneurs are making a tangible impact on the British economy, with a combined turnover of £4.4 billion that exceeds some FTSE 100 companies. However, life isn't all plain sailing for business mums as they still strive to juggle a successful business with a harmonious home life.
The study found that:
Average age: more than a third (36 per cent) of female entrepreneurs are between 26 and 30.
Children: 74 per cent of women who started a business after they gave birth did so when their child was under two years old.
Previous experience: 74 per cent of mums were in employment when they started up their business. 65 per cent had the relevant skills and training before they set up their new venture.
Motivation: A quarter (26 per cent) started up their own business because they were frustrated working for someone else, with more than a third (38 per cent) pursuing their 'big idea' as it allowed them to juggle a career and motherhood.
Job Satisfaction rating: Three quarters (73 per cent) of those questioned currently feel 'satisfied' or 'very satisfied' with two thirds (66 per cent) more satisfied than in previous jobs.
But there is a price to success:
More than a quarter (27 per cent) say they struggle to make quality time for their partner.
More than a third (35 per cent) are unable to enjoy 'me time'.
The biggest bugbear for nearly half (47 per cent) of business mums is lacking the time to wash the dishes and stay on top of household chores.
The research was conducted following a rise in Yellow Pages directory listings for businesses typically run by women, and throws up interesting insights into the motivations behind a move into enterprise as well as the benefits and challenges. More information can be found at http://www.bizmums.co.uk/
For more information, contact Jo Chappel, Red agency, on 07974 979 395.
Financial Times, Germany
From the boardroom to the dining room (9 July)
Article includes comments from Tim Leunig, lecturer in economic history at LSE.
Times (3 July)
Training service for business-mums launches in UK (3 July)
More women are choosing to work from home and have now become a powerful force within British business, with a combined turnover of £4.4 billion, according to a survey carried out by Yellow Pages in conjunction with the London School of Economics.
Women getting wealthier than men (11 June 07)
Barclays Wealth Management predict that women millionaires will outnumber their male counterparts by 2020, when, they claim, 53 of millionaires will be female. A large proportion of these highly successful businesswomen had their success after giving up work to raise children and then setting up 'kitchen table' companies that fit in with their lifestyles. Indeed, according to the London School of Economics, 'kitchen table tycoons' or 'mumtrepreneurs' have set up businesses with annual sales of almost £4.5billion.
Businesswomen taking over millionaires' club (11 June 07)
Many women have succeeded in business after giving up work to become mothers and then founding 'kitchen table' companies that fit in better with their lifestyles. These 'Kitchen Table Tycoons' have set up businesses with annual sales of nearly £4.5 billion, according to the London School of Economics.
Australian Daily Telegraph
Mums do the business (3 Feb 07)
Women seeking a healthier balance between work and family are driving a significant increase in home-based businesses. A recent study by the London School of Economics found that kitchen-table tycoons were contributing $11.1 billion annually to the UK economy.
Meet the money mummies (23 Jan 07)
According to a study by the London School of Economics and Yellow Pages, these female kitchen-table tycoons currently contribute a staggering pounds 4.4 billion to the British economy. So what, exactly, drives this new breed of yummy mummypreneurs?
Kitchen table tycoons (23 Nov 06)
Kitchen table tycoons, the new buzz phrase to describe women who set up their own businesses from home, now account for £4.4 billion of sales a year, according to Professor Tim Leunig at the London School of Economics.
Dains not keeping mum over success (17 Nov 06)
Midlands-based chartered accountants Dains have welcomed the news that working mum businesses in the UK are on the increase. According to a recent study conducted by Yellow Pages in conjunction with LSE, an increasing number of women are starting up their own firms after becoming mothers.
Women champion UK start-ups (25 Oct 06)
Article about female entrepreneurs which refers to LSE research for the Yellow Pages.
Bristol Evening Post
Mums are the boss in new careers boom (24 Oct 06)
A New breed of female entrepreneurs, dubbed 'kitchen table tycoons', has emerged, according to research from Yellow Pages and LSE.
Scent of success (24 Oct 06)
The number of women entrepreneurs is soaring, Barclays bank revealed yesterday. Spotting a business opportunity, they see becoming their own boss as a way of ensuring a more flexible working life. According to LSE, these 'kitchen table tycoons' have set up businesses with annual sales of nearly £4.5billion.
Mompreneurs on the march (Sep 06)
The Americans call them 'mompreneurs' whereas we think of them as 'kitchen table tycoons' but whatever label you prefer, we're seeing more and more of them. Statistics show an increase in the number of women opting to start their own businesses after having children. Many are in the baby food and children's clothing sectors, but others are branching out into everything from karate lessons to dog grooming
Kitchen Table Tycoons taking on the business world (22 Sep 06)
This new brand of business-savvy mums manage to combine the role of motherhood with being a successful work-from-home businesswoman, the latest research from the Yellow Pages has shown. 'The findings of this study chime with recent government figures that show half of SMEs [small and medium enterprises] are run with women at the helm as an increasing number of mums dream of a career that they can enjoy in tandem with motherhood,' said Tim Leunig, lecturer in economic history at LSE.
Cambridge Evening News
Business mums a powerful force (20 Sep 06)
Mums who turn their kitchens into boardrooms and set up businesses from home have become a powerful force, with a combined turnover of £4.4 billion. The finding comes from a new study by Yellow Pages. The research, developed in conjunction with experts at LSE, identifies a new breed of enterprising female entrepreneurs dubbed 'Kitchen Table Tycoons', who successfully juggle the roles of mother and magnate.
The mothers of invention (18 Sep 06)
The dilemma of raising children and working full time has led to a significant rise in the number of 'kitchen-table tycoons' - mothers who have started businesses that can easily be run from the home. This burgeoning group of women is now a considerable economic force. According to new research conducted by LSE for Yellow Pages, published last week, mothers who run businesses from home now contribute £4.4 billion to the British economy each year.
This is Money
Boom in business tycoon mums (17 Sep 06)
Research shows that in just six years new mothers have started businesses with annual sales of nearly £4.5bn. The study, by LSE and Yellow Pages, looked at the rise in the number of directory listings being placed by businesses set up by women.
Working mums in 'kitchen sink tycoon' boom (15 Sep 06)
For many new mums looking after baby is a 'career' in itself, however an increasing number are becoming entrepreneurs. And the phenomenon has led to a boom in 'kitchen table tycoons' according to statistics released yesterday. Research shows that in just six years new mothers have started businesses with annual sales of nearly £4.5billion. They are most likely to set up companies involving baby food or children's clothes but they have also turned to everything from dog grooming to karate tuition. The study, by LSE and Yellow Pages, looked at the rise in the number of directory listings being placed by businesses set up by women.
Female entrepreneurs starting businesses for greater flexibility (15 Sep 06)
Glasgow Daily Record
Business mums make billions (15 Sep 06)
The London Paper
The rise of kitchen tycoons (14 Sep 06)
Article discussing the on the latest Yellow Pages survey which highlights business needs of 'kitchen table mothers and entrepreneurs'. The research was developed in conjunction with LSE.
Business mums boost UK plc (14 Sep 06)
15 September 2006