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As the green shoots of economic recovery emerge, new CIPD research has revealed how urgent action needs to be taken by the corporate world to stem the leaking talent pipeline that could hinder the progress of growth.
Building on the messages in a report from the Women's Business Council published in June, the CIPD claims that if business does not adopt flexible or innovative working practices, it will continue to lose impressive women who decide to set up their own businesses to achieve a better work-life balance.
'Inspiring Female Entrepreneurs,' the second report in a three part series by the CIPD on entrepreneurial practices, highlights that there are more than 2.4 million unemployed women who want to work and that if there were as many female entrepreneurs as there are male entrepreneurs, GDP could be boosted by 10% by 2030.
The research found that the key drivers that motivate women to set up on their own are the desire for more autonomy and the need for greater work-life balance and flexible working.
However, the women interviewed in the report also revealed some of the challenges associated with going it alone, stating that more women would be motivated to start successful businesses if they had access to a central business advice portal with quality guidance on financial business planning, franchising, up-skilling and training.
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