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The UK is lagging behind the US in encouraging female entrepreneurs, a new report has suggested.
The study, entitled Observed Characteristics of Outstanding Women in Business, was published by the National Business Awards.
It found that there would be around 750,000 more female-led start-ups if rates of company formation by women in the UK matched those in the US.
This is despite the fact that businesses led by women in Britain already contribute £70 billion to the economy and employ over one million people.
As reported by Startups.co.uk, Philip Forrest, author of the report, said: "The poor economic participation rating of women in the UK puts us almost halfway down the league of top-80 nations."
He explained that the government and other organisations are making some efforts to rectify this situation and encourage company formation by women.
However, he continued: "The question is raised about whether the effort is enough or is properly focused on the right targets necessary to address some of the underlying issues that appear to affect the ability and capability of women to play a more productive role in achieving the ambitions of future success for UK plc."
A recent study by Barclays Wealth Management recently predicted that in the next 15 years, female wealth will increase significantly proportionate to that of men.
Figures indicate that by 2020, 53 per cent of millionaires will be women.
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