While women are making excellent progress in the business world, they will need continued support if the gender gap is to be narrowed further, it has been claimed. According to Emma Jarman, a spokesperson for the NatWest Everywoman Awards, men still outnumber women when it comes to entrepreneurship, although the gap is closing as more and more women recognise the benefits of being their own boss.

While Ms Jarman has observed that a number of barriers facing women have been removed - citing as an example the fact that it is now much easier for women to gain access to finance - she believes that female entrepreneurs could be encouraged further through mentoring schemes. Drawing on anecdotal evidence, Ms Jarman notes that women are far more likely to succeed in setting up a successful business if they have a network of experts to fall back on who can help them bring the challenges they are facing into context.

Having said this, Ms Jarman also asserts that many women are already excelling in the business world, claiming that a pound invested in a business run by a woman represents a better investment than a pound put into a business run by a man.

As obstacles to success are broken down and a greater number of women role models rise to prominence, more and more women are taking the plunge and setting up their own business. However, the reasons for them doing so are varied, and according to Ms Jarman women can usually be put into one of three categories.

Younger women are more likely to be driven by the financial side of things, she says, and by the fact that they want to dictate their own career path and be their own boss. Meanwhile, older women in their 30s and 40s are more likely to be looking for a more flexible working environment in order that they can balance their financial and family needs. Lastly, women aged 49 and over who set up their own business are often looking for a new challenge and can be less driven by financial factors as they have often already paid off their mortgage and simply want to prove to themselves that they can achieve business success.

The NatWest Everywoman Awards have been set up to recognise the achievements of women from all of the above categories who have been successful after having set up their own small business. Indeed, many of those honoured have had to overcome adversities such as financial constraints, social disadvantages or skills gaps - further emphasising the progress being made by women in the entrepreneurial arena.

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