Menopause impacts nearly one in four women business owners, resulting in lost earnings, lost customers, and even the closure of businesses, according to new research by Simply Business. The survey of over 900 women business owners found that 27% had suffered a loss in earnings, 13% had lost customers, and 7% had shut down their business altogether due to menopause. Nearly half (45%) of the women surveyed believe that the government should provide better support for women going through menopause.
The impact of menopause on women business owners is a significant concern that has been largely ignored until now. This issue affects women of all ages and backgrounds, and it is essential to provide them with the support they need to overcome the challenges they face during this time.
Key Takeaways:
- Over a quarter of women business owners have suffered a loss in earnings as a result of going through menopause
- 13% of women have lost customers as a result of menopause, while 7% have had to shut down their business altogether
- 45% of women business owners believe that the government should provide better support for women going through menopause
Baroness Karren Brady CBE, Simply Business’s Small Business Ambassador, has shared her personal struggles with menopause to highlight the challenges facing women business owners. Brady stated that women business owners are particularly vulnerable when it comes to facing health conditions like the menopause, especially those running their business alone or with just a small team for support. She added that it is essential to support women business owners through this time, raise awareness of the symptoms and how they can be managed in the workplace, and speak openly about menopause and the significant impact it can have on work.
The survey conducted by Simply Business revealed that 38% of women business owners had been forced to adapt or reduce their working hours, further emphasizing the need for support. Following the government’s recent decision to reject efforts to make menopause a protected characteristic, two-thirds of women business owners (66%) disagreed with the decision.
Bea Montoya, Chief Operating Officer at Simply Business, said that supporting women small business owners, from startups to seasoned SMEs, is imperative for the benefit of the economy and communities. The research conducted by Simply Business paints a clear picture of the many unique challenges facing women business owners, and the government needs to make it a key priority to create the right conditions for small business owners to thrive.
Case Study: Running a Business While Going Through Perimenopause and Menopause
Susanna Edwards, Founder and Director of The School of Creative Wellness, shared her experience of running a business while going through perimenopause and menopause. Edwards said that a high proportion of perimenopausal women had to drop their hours or leave employment due to the effects and symptoms of perimenopause. Edwards had started to have symptoms of perimenopause during the pandemic, but there was no time or space for her to take care of herself. She suffered severe burnout and a breakdown due to the multiple pressures of caring for her parent, being a single mom, and managing a high-pressure job.
Conclusion:
The impact of menopause on women business owners is significant and often overlooked. The survey conducted by Simply Business highlights the need for better support for women going through menopause. It is essential to raise awareness of the symptoms and how they can be managed in the workplace, provide women with the support they need to overcome the challenges they face during this time, and make supporting women small business owners a key priority for the government.
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