Women match men in business start-ups for first time

The GEM report also stated that one in five new business-owners were non-white. At over 24%, this was the highest level ever recorded.

Despite progress being made in the diversity of Scotland’s entrepreneurs, certain issues were holding people back.

Professor Stathis Tapinos of Strathclyde Business School at the University of Strathclyde, said: “While Scotland reached new milestones with female and minority ethnic early-stage entrepreneurial activity, concerns remain around rates of established business, fear of failure, and the general context for entrepreneurship in Scotland with worrying evaluations by the expert panel.

“Understanding these and other issues related to entrepreneurial attitudes, perceptions and activity in the country is important for policy and practice as entrepreneurship has important implications for the economy and many societal dynamics.”

The study also found that with 9.1% of its population involved in starting or running new businesses, Scotland scored the lowest of the four home nations.

Wales was top at 11.5%, followed by England with 10.8% and Northern Ireland with 9.7%.

The Scottish government said that people should be given the right support and encouragement, regardless of gender or background, and that the report showed strong entrepreneurial activity in Scotland.

Employment and Investment Minister Tom Arthur said: “People must be given the right support and encouragement, regardless of gender or background, to make business ideas a reality, and this report shows strong entrepreneurial activity in Scotland.

“I am encouraged by the progress on female participation and remain committed to ensuring women-led businesses reach their full potential. The Scottish government will continue to play a prominent role in enabling entrepreneurship.”

He said that the deputy first minister had recently announced a £5m package of support, including a £2.6m investment across programmes which enhance early-stage entrepreneurship, with further targeted support for those from under-represented backgrounds.