It is heartening to see that so many young people are becoming directors, and shows that entrepreneurial spirit is alive and well amongst the younger population.
Oxford, UK (PRWEB UK) 24 September 2012
Statistics in the latest Duport Business Confidence Report reveal that the number of directors under 25 is on the rise, while the number of female directors is falling sharply.
The percentage of young directors in Oxford has been rising steadily since 2003, when young director appointments stood at just 0.12% during the first half of the year. By the first half of 2012, this figure had risen to 5.5%. This trend mirrors the UK as a whole, where 4.8% of director appointments during the first half of 2012 were under 25.
Conversely, the number of female directors in Oxford has fallen sharply in recent years. Numbers peaked in the first half 2009, when just over 30% of director appointments were female, but have steadily decreased since then. During the first half of 2012, only 23% of director appointments were female. As with the data for young directors, these statistics mirror the UK as a whole.
The recession has meant fewer jobs for young people, especially graduates - which could be the reason behind an increasing number of under-25s taking the helm of their own companies.
The drop in female entrepreneurs reflects the effect that recession has had on women in particular. It also ties in with data from a recent TUC report that reveals that since 2008 the rate of female redundancy has increased by 2.3 percentage points, almost double the rate of male redundancy.
Managing Director of Duport.co.uk, Peter Valaitis said:
“The statistics in our latest report show a very interesting picture of the Oxford economy. It is heartening to see that so many young people are becoming directors, and shows that entrepreneurial spirit is alive and well amongst the younger population.
“The decrease in female directors is less encouraging, but the peak of female director appointments in 2009 shows that there are opportunities for women in Oxford. Hopefully we will see another rise during the next couple of years.”
The full report for Oxford can be found here http://www.duport.co.uk/oxford.
Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.