Government pledges support to female businesses
Mon, 09 Nov 2009
The government has announced new plans to help female entrepreneurs establish a foothold in the business sector.
A Women's Enterprise Champion is to be installed, while support in critical areas such as access to finance, procurement opportunities, advocacy and data is to be enhanced.
Greater support for female-led companies is also set to be offered by the banks, according to the Department for Business, Innovation and Skills.
It said confidence "is a critical issue" in changing the mindset of potential female entrepreneurs, and they must feel as if they have the backing to establish and grow their companies.
Commenting on the announcement, Tatjana Hine, president of the British Association of Women Entrepreneurs, said the initiative will be "fantastic if it works".
She said the champion must be somebody who has actually experienced entrepreneurism, as within government organisations there are already many people who lecture on such topics but have no proven expertise.
Ms Hine added: "It has been much more difficult for women than it has for men in the past [to gain finance], but I do feel that after this crisis now, banks are actually looking at women's businesses differently."
They tend not to be as large and have as much debt as male-operated firms, she said.
"On the whole I think banks have over the last few months become more friendly towards women entrepreneurs. It would be nice if they could continue to be so."
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