Customer UnderstandingMarch 20264 min read

It's ok to talk about women

This Wednesday past, I was kindly invited by our bank to a post 'Chancellor's whatever' breakfast economic seminar.

It was a relatively small affair. 20-odd guests and 5-6 bank personnel, including a nice economy guru.

So, let's say 25 people: 23 men; 2 women (both bank customers). The sectors of coverage were technology, media, and telecoms. A good number introduced themselves as tech entrepreneurs, with the de rigueur mention of AI.

After the economist outlined his thoughts, which were all very interesting and useful, it was time for questions. I asked one, after someone had asked about how AI was going to help drive growth.

My question zeroed-in on the lack of growth in the economy, given that was one of the economist's main concerns, and whether the incredibly poor investment available to women entrepreneurs could, if addressed, be an area that could help drive growth.

I pointed to how statistics detailed the shocking lack of it, with a massive disparity (global data suggests 83.6% to all-male founding teams, 14.1% to mixed-gender founding teams, and, wait for it, 2.3% to female-only founding teams).

Now, I don't know if the question is a naïve one or not, as in I don't know whether correcting the disparity would or wouldn't be a driver of economic growth. I assume it would be but I'm not an economist. Hence my wanting to ask one.

There was a bit of a history lesson in the answer back, but nothing that answered my question. So, I tried again. In the end, I had to ask the question three times in slightly different ways to try to get an answer, framed in economic terms.

Instead, I got plenty about how the bank doesn't discriminate. Ok.

I was asked what I thought the answer was (no one else who asked a question was asked to answer their own question). I was asked by a male tech entrepreneur what the basis of my question was, despite having asked it twice and pointing to the disparity twice.

I also said I wasn't having a pop; I just thought it was worth talking about human endeavour rather than AI all the time.

And when one of the only two women there stated that she had tried to get funding to start a business but was turned down, and then said 'it may have been because I'm a woman' the man next to me harrumphed under his breath, but loud enough to make it heard by most.

My question was never answered.

Instead

  • It felt like it was difficult to talk about the subject of female entrepreneurs.
  • There was more of a focus on things like progress in the boardroom, but that's not the same thing.
  • The reps felt like they needed to defend their organisation's position.
  • Some men in the room seemed to think it was a woke question (no one said it, so I don't know it for a fact, but I just know it's true from the body language and the like).
Men, it's ok to talk about women, and the disparities they face. It shouldn't be an uncomfortable topic of conversation. It's a vital topic of conversation.

But there seems to be far more interest in discussing whether AI will contribute, you know, the thing that doesn't pay any taxes, hasn't been around since the dawn of humanity, and aren't half the population, than women, who do, have been, and are.

What do you think? Do you think investing in female entrepreneurs would contribute positively to the UK economy and its lack of growth?

Ben Skelton

Ben Skelton

CEO, Quadrangle

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