Investment in Scottish female-led businesses have risen 190% over the last decade, according to new research from JP Morgan Private Bank. The Top 200 Women-Powered Businesses report, now in its fourth annual edition, reveals that that run, controlled, or led by women account for nearly a third, at 31.6%, of Scotland’s high-growth firms.

Such companies saw equity investment increase from £51 million in 2014 to £148 million in 2023. Indeed, as much as 26.1% of all the equity investment that high-growth companies experienced in Scotland in 2022 was directly made into female powered businesses. It represents a significant shift at the entrepreneurial level where female-led ventures have led the charge in the scale-up arena in the country.

“This rising female entrepreneurship has changed the scale-up outline of Scotland. Besides augmenting the number and proportion of women-owned enterprises, we are also bringing ourselves closer to achieving gender parity,” says Maya Prabhu, head of UK domestic at JP Morgan Private Bank. Increased support for women-owned enterprises will be one of the most important triggers in accelerating economic and social development in Scotland, Prabhu adds.

Again, the report highlighted areas that were of interest to the female-powered businesses investors. Internet platforms, software as service and analytics, insights and tools had maximum equity investment deals during 2023. Interestingly, out of the deals, 28.1% were internet platforms, followed by 24% SaaS, and 25.9% analytics and insights. Female-powered businesses in artificial intelligence were steadily rising and accounted for 519 companies falling into this category.

This uptrend of women-owned businesses shows the movement towards more diversity  in the business of Scotland. The report indicates Scotland is working its way towards the attainment of gender balance in its growing economy as investments are multiplied over to women-owned businesses.

Women’s businesses are assured a future-proof role and business flowering in lead sectors of Scotland’s entrepreneurial ecosystem, the report said. JP Morgan concludes that this would be done by more support for women in business as the best prescription to drive long-term innovation, growth, and competitiveness in the Scottish economy.

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