Plans to increase the number of British female entrepreneurs have taken a leap forward
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Plans to increase the number of British female entrepreneurs by half have taken a leap forward, with major banks and venture capital firms signalling their support.
Royal Bank of Scotland, Barclays, Lloyds Banking Group, Santander, TSB, Metro Bank, the Co-operative Bank, Nationwide and Bank of Ireland UK have today all signed up to the Investing in Women Code, alongside venture capital firms Frontline, Episode 1, and Angel networks UK Business Angel Association, Angel Academe, and British Business Bank.
The Investing in Women Code is a commitment to support female entrepreneurship in the UK by improving women’s access to the advice, resources and finance needed to build a business.
It comes after an independent review – commissioned by the Treasury and headed up by Alison Rose, Deputy CEO of NatWest – identified barriers faced by female entrepreneurs and what could be done to overcome them. The Rose Review found that only one in three entrepreneurs are women, and that businesses run by women are on average half the size of firms led by men.
Speaking at the launch of the Investing in Women Code at a reception in Downing Street, the Exchequer Secretary Robert Jenrick said that it’s shocking that only one in three entrepreneurs are women, and expressed hope that this commitment signals a turning point in attitudes towards investing in female-led businesses.
