More than 150,000 new all-women-led companies were founded in the UK in 2022 – more than any year previously – according to new research.
Finder’s recently published report also revealed that almost one in five UK companies (18%) are led by women in 2024 – more than 880,000.
However, when the figures are broken down regionally, the North East is lagging behind the national picture. London has the highest percentage of women-led businesses (19.8%) with Northern Ireland with the lowest percentage at 14.7%. The percentage of women-led businesses in the North East is 16.2%.
A rise in the number of female-led companies in the UK is a fact that Teesside business owner Stacey Nottingham relishes.
And it shows a more diverse change in the business community since she founded her creative design and digital marketing agency, Bombshell Design, 23 years ago.
“It was inevitable I would become a designer,” says Stacey, who was born and raised in Thornaby.
“My Mum said I was always out in the backyard drawing. Drawing was my life. And I have always wanted to run my own business for as long as I can remember. I realised that my talent was drawing from an early age.”
At university, Stacey discovered a passion for digital art but on leaving higher education, she found competing for a job in what was then a male-dominated industry much harder than she ever imagined.
She had moved down to London where coincidentally, she got talking to an old school friend about how they both wanted to move back up north.
“We decided we would create our own jobs and set up our own business,” she says.
“At that time, there were no other design companies run solely by women in Teesside and a very limited number across the North East. In my experience, there wasn’t another company that did all we did at the time run by women.”
The name Bombshell came from her friend sitting down with a thesaurus and finding the following definition: ‘a shocking and unexpected surprise’ and they knew they had their name.
“That’s what we’re going to do with our business, create a bombshell in that industry,” she adds. “And we did!”
They knew they were onto something good and were soon winning accolades including the Young Entrepreneur award at the Women in Business awards in 2004.
A year later, Stacey’s business partner decided being a business owner wasn’t for her so Stacey bought her out and has run Bombshell ever since.
“I love Bombshell,” she says. “It’s my baby. My passion has always been my business.”
When she relocated to Norfolk for 10 years, she took Bombshell with her and since her return to the North East eight years ago, her main focus has been growth.
Now Stacey has a team behind her which includes a head designer, website designer, admin and social media executive and a recently appointed head of web and digital SEO.
Over the years, Bombshell has grown from a graphic design company to incorporate other services branding, website design and development, SEO (search engine optimisation), social media marketing and printed literature. The company’s services have widened to meet demand and development over the years.
Next for Bombshell Design is a heightened focus on growth.
“I want to grow the team and I want to grow Bombshell,” says Stacey, who lives in Wynyard.
“In the next year, I want to grow the team with a junior designer and a social media apprentice. At present, the team all works remotely but once we have a junior designer and/or an apprentice, I want to return to an office setting to ensure they can learn from us all face-to-face.
“Our client base is primarily in the Tees Valley, although we have clients in Leeds, Manchester and London, so we want to widen our client base too.”
And although, Stacey is never far away from her emails, she has learned over the years that spending time with loved ones and looking after both your physical and mental health are key to staying strong and happy – as well as ensuring she remains a resilient business leader.
“The fact that one in five new businesses are now female led is massive,” says Stacey.
“It’s fantastic to see so many women-led creative design companies in Teesside. I still think we have a long way to go but seeing the rise in female entrepreneurs is great to see and very different from when I started out.
“Having more women in business is better for all of us. We work with other women led businesses locally. Everyone thinks you would be rivals, but we work together. There is room for all of us.
“I think things could be better but I believe things will only get better and better as time goes on.
“As a female leader, I have experienced challenges along the way – feeling intimidated in a male-dominated industry at times when I was starting out and imposter syndrome. But I know we’re good at what we do and the fact we’re still standing 23 years’ later is testament to that.
“Women are good listeners and we are good communicators so we learn more about clients – this works in our favour with male and female clients. People feel more comfortable talking to us.”
The Power of Women (POW) campaign was founded by dedicated business leaders in the North East to lift and shift the aspirations and ambition of young people in the Tees Valley and beyond.
Sophie McKenna, campaign manager for Power of Women (POW), said: “As advocates for gender equality and women’s empowerment, we are heartened by the encouraging statistics on women in business in the UK. The fact that one in five companies are now led by women demonstrates significant progress towards achieving gender parity in leadership roles. Additionally, the surge in new all-women-led companies, with over 150,000 founded in 2022 alone, showcases the incredible potential and entrepreneurial spirit of women.
“These statistics not only highlight the increasing presence of women in the business world but also underscore the importance of promoting an environment that supports and nurtures their ambitions. Women in business serve as powerful role models for the future generation, inspiring them to dream big and break barriers.”
Max Freer, creator of Female Founder UK, says: “Female Founder UK was created to spotlight amazing females from the North East to inspire inclusion and equality to bridge the enterprise and entrepreneurial gap that exists between the north and south.
“We need to see ourselves reflected in all aspects of business and industry. The phrase you can’t be what you can’t see is very true.”
Find out more about Bombshell Design at Bombshell Design