Last year saw a record number of exit deals and deal value for women-led businesses in the UK, according to new research from JP Morgan.
In the global bank’s latest Women-Powered Business report, it noted that 2024 saw the gap in the value of exits among women-led firms and their male counterparts reach the smallest it has been on record.
According to JP Morgan’s research, women-led businesses in the UK generated £5.23bn, the second-highest total value in the last five years (being edged out by 2021) and the smallest gap from male-led businesses ever, which generated £6.74bn.
“Women-powered businesses continue to be a driving force behind innovation and growth across the UK economy,” said Marice Brown, region head of the UK, Channel Islands and Ireland at JP Morgan Private Bank.
“We’re passionate about championing them but we also recognise the challenges they continue to face in accessing funding and building their networks. By shedding light on the structural and systemic challenges they face, we can play a pivotal role in advancing women owned and led businesses, and fuel the next wave of women ambition.”
The report defines “women-powered businesses” as either founded by women, led by women or with a majority of the management team or owners being women.
“Although the gap still exists, the rising exit value among women-powered businesses is notable,” added Charlotte Bobroff, the bank’s head of UK women and wealth.
“2024 is particularly impressive given that these businesses make up a significantly smaller share of the high-growth business population, even amid a general softening in exit activity.”
Among the largest relevant exits last year was Darktrace, then run by Poppy Gustafsson, acquired by Thoma Bravo for over £4bn.