Overconfidence can be off-putting, but the opposite problem is far more common among business owners. Impostor syndrome, the nagging belief that your success is undeserved and that you will eventually be exposed as a fraud, affects a significant share of UK professionals. Although it is often associated with women, modern research shows it can strike anyone. Impostor syndrome is a familiar feeling for women in business, but it is best treated as a management challenge, not a personality defect.

Running a business demands confidence, assertiveness and persuasiveness, yet it does not stop you being human. The personality traits and anxieties you bring to work will influence how you lead, sell and grow. Recognising impostor syndrome is the first step to making sure it works for you rather than against you.

What is impostor syndrome?

Many people give a blank look when they first hear the term, then immediately recognise themselves in the description. “Impostor syndrome” was coined in the late 1970s by clinical psychologists Pauline Rose Clance and Suzanne Imes to describe high-achieving individuals who cannot internalise their success. They attribute achievements to luck, charm or timing rather than ability, and live in fear of being “found out”.

Clance and Imes’s original study focused on high-achieving women, many with doctorates, who still felt they were winging it. Today, psychologists tend to view the phenomenon as a widespread experience rather than a clinical syndrome. It is not limited to women, nor is it a sign of incompetence: it often appears in capable, conscientious people who set high standards for themselves.

Why does impostor syndrome affect women in business more often?

UK data suggests women are still more likely than men to experience impostor feelings at work. A 2024 survey by Ciphr found that 79% of UK adults had experienced impostor syndrome in their career, with women reporting it at 85% compared with 74% of men. For women business owners, the gap can feel even wider when you are pitching, networking or entering sectors where women remain underrepresented.

The Alison Rose Review of Female Entrepreneurship notes that women account for only around 32% of UK entrepreneurs. It also estimates that closing the entrepreneurship gender gap could add up to £250 billion to the UK economy. Women-led businesses also receive a disproportionately small share of equity investment. According to the British Business Bank’s Small Business Finance Markets 2024 report, all-female founder teams received just 2% of UK equity investment in 2023. When rooms are short of people who look like you, it is easy to interpret success as a fluke rather than evidence of skill. You can see the broader picture on our Women in Business: Key UK Facts page.

Social conditioning plays a part too. Girls are often praised for being “good” or “helpful”, while boys are encouraged to take risks and claim credit. As adults, women may downplay expertise to avoid being seen as pushy, and attribute wins to teamwork or luck. The result is a persistent gap between what a woman has achieved and what she feels entitled to claim.

That said, attitudes have shifted since the 1970s, and more recent studies make clear that men also experience impostor syndrome. The difference often lies in how openly people talk about it and whether they have safe spaces to admit doubt.

When does impostor syndrome become a business risk?

To some extent, self-doubt is normal and even useful. If you never question whether you are the right person to run a business, you may be missing risks that could trip you up. A little impostor-style caution can keep you prepared, humble and open to learning.

Problems arise when doubt becomes the dominant voice. A 2024 Totaljobs survey found that 61% of UK workers had experienced impostor syndrome, and for many it affected career decisions, pay negotiations and willingness to put themselves forward. In business, that can translate to undercharging, avoiding networking, delaying investment or turning down opportunities because you assume someone else is more qualified.

Success in business depends partly on presence. When you meet potential clients, investors or partners, you need to convey that you are capable and reliable. That is hard to do if you are internally rehearsing reasons you do not belong in the room.

How to tackle impostor syndrome in your business

Start with evidence. List what you have achieved in business, education, employment and life. Did every contract, qualification, sale and piece of positive feedback really arrive through blind luck? Almost certainly not. You put in the hours, learned from mistakes, adapted and delivered.

Clance and Imes observed that high achievers often underestimate their own effort and determination. If you are prone to impostor feelings, make a habit of recording your wins and the actions that produced them. When doubt creeps in, you will have a factual counter-argument ready.

Impostor syndrome often flares when you compare your behind-the-scenes struggles with someone else’s polished result. You might see a competitor solve a problem brilliantly and think, “I would never have thought of that.” Remember that different is not necessarily better. Your own natural approach may look equally innovative to an outsider. Ask for feedback from trusted clients, peers or mentors to get an objective view of your strengths.

Practical habits help. Set measurable goals so success is defined by outcomes, not feelings. Talk about impostor thoughts with a mentor, peer group or business coach; naming the fear usually shrinks it. Separate facts from interpretations: “I don’t know everything” is true; “I am a fraud” is not. Building a supportive network of other women business owners can normalise the experience and remind you that capability and doubt can coexist. Our guide to Women in Business Networks UK lists communities worth exploring.

It is equally important not to swing too far the other way. Overconfidence breeds complacency and blinds you to new weaknesses and opportunities. Let the cautious inner voice have its say, but make sure the real, high-achieving you has the final word.

Practical action steps for women founders

• Keep a “wins log” and update it weekly with concrete results and the actions that produced them.
• Join a women in business network or peer group where you can discuss challenges openly.
• Review your pricing every quarter and benchmark it against competitors rather than guessing your value.
• Ask three clients or colleagues for written feedback and read it when self-doubt spikes.
• Set one stretch goal each month that pushes you beyond your comfort zone.
• Read our Free Workplace Mental Health Tips for UK Women in Business for more ways to protect your wellbeing.

Conclusion: managing impostor syndrome in your business

Impostor syndrome is not a character flaw or a sign that you are out of your depth. It is a common experience among capable people, and for women in business, impostor syndrome can be amplified by underrepresentation and social conditioning. The aim is not to banish doubt completely, but to stop it from making your strategic decisions for you.

Build evidence of your competence, surround yourself with peers who tell the truth, and let your cautious inner voice have its say without giving it the final word. Enough self-confidence to pitch, price and lead, combined with enough humility to keep learning, is a powerful combination for any founder.