The latest Real Estate Balance report, commissioned by property company PWC to explore senior commitment to gender balance, reveals that little progress has been made since the corresponding report from 2017.
Back then, the paper revealed a considerable imbalance between men and women who currently sit on the board of UK property companies; 81% vs 19% respectively.
The current report shows only a 3% increase with 22% of board level members being women. Real Estate Balance was formed out of the need for more senior women in property with the aim to see women in 33% of senior positions in property by 2020, with a goal of 50%.
With the necessity to speed up the implementation of gender equality, women now take matters into their own hands by embracing their entrepreneurial spirit.
The 15th Scottish Widows Women and Retirement Report from November 2019 reveals that the number of female entrepreneurs in the UK has hit an all-time high of 1.7 million.
With this wave of success-driven women, and the gap of female representatives in the property industry, the world of bricks and mortar may be set for a much-needed boost of female leaders.
Karolina Adamczyk, founder of design-led property development consultancy Ademchic suggests, “To see change in the industry, we need to be the change. I attend networking events for women in the industry and have often been saddened to learn just how many female professionals are in initial self-doubt.
“It’s time to leave this mind-set behind us, lead by example and embrace a future that celebrates equality and inclusiveness.”
Bearing in mind the UK’s economic concerns created by Brexit and coronavirus, the power of female entrepreneurs couldn’t be timed better. According to the Rose Review of Female Entrepreneurship, HM Treasury 2019, a staggering £250 billion could be added to the UK economy if women started and scaled new businesses at the same rate as UK men. Mastercard’s latest Index of Women Entrepreneurs, which tracks the progress and achievement of business owners across 58 markets, further tells us that the UK has leapt into the world’s top ten of best places to be a woman in business. In 2018, Britain came 13th in the worldwide ranking of best places, where female start-up owners can thrive.