Research report: What needs to shift for women founders to thrive?

The Support Deficit: What Needs to Shift for Women Founders to Thrive captures the reality of 700 women in business across Australia who responded to a survey. Over half (52%) of them have founded or co-founded an established small-to-medium business with between 1-500 employees. Nearly 1 in 3 have co-founded a startup.

Largely, women’s businesses are growing, with 85% saying they plan to hire in the next year and 80% are investing in scaling. However, there is also plenty of pressure, with just 7% of women indicating their business is thriving. 

Rebecca Warren, Executive General Manager, Small Business Banking, CommBank, says the research findings from the Women’s Agenda survey are both inspiring and sobering.

“They reveal a community of women who are scaling businesses, creating jobs and embracing innovation—often in the face of immense pressure,” Warren said. “The data also highlights a persistent support gap, particularly around mental wellbeing and time to lead strategically.”

“When women are backed with the right support, they don’t just grow businesses—they transform industries and communities.”

Current data shows one third of businesses in Australia are now led by women, however women are facing varied and ever-changing challenges. 

Burnout and mental load (63%), the cost of doing business (55%), sourcing clients and customers (51%) and access to funding (37%) are the top challenges cited by women founders and business owners. 

Close to 80% of women surveyed said inflation and the cost-of-living are negatively impacting their businesses right now. Access to capital is also a major hurdle, with 43% of women indicating it is a key obstacle to their growth.

And amid rapid digital transformation, most women (81%) have adopted some form of AI in their business, however 30% report not having enough time to experiment, holding its use back. 

So where do women feel most supported?

Respondents said they feel most supported by the people closest to them as they navigate the uncertainty and challenges of business. For 83% of women, it came down to their network, which includes other entrepreneurs, corporate clients or partners. Friends and spouses also offer key support. 

Meanwhile, 90% of women said workplace flexibility around when and where they work has been beneficial. Networking events, online resources, government grants were also singled out as key supports.

Tarla Lambert-Patel and Angela Priestley, co-founders of Women’s Agenda and Agenda Media, said flexibility, support, and collaboration are all enabling success for women and there are many practical changes that can help accelerate growth.

“From establishing more networks that connect women with key decisionmakers and investors, to dedicated grants and VC funds, our survey respondents shed light on the practical changes that can be made to help accelerate their growth,” they said.

“This report is a call to action for policymakers, investors, institutions and communities. Let’s build an ecosystem where women are backed to thrive.”

What makes a difference?

According to survey respondents, closing the funding gap, building professional networks, breaking down outdated gendered stereotypes and taking steps to reduce the risk of burnout are all measures that would make a difference for women entrepreneurs and business leaders.

The report details specific steps that organisations can take to help build a system that works for women. 

Find the full report here.