Source · Select Committees · Women and Equalities Committee
Recommendation 26
26
Accepted
Establish a large-scale nationwide programme supporting female founders to sustain and scale businesses.
Recommendation
As part of a new Strategy for Female Entrepreneurship, the Government should establish a large-scale nationwide programme dedicated to supporting female founders across all sectors to sustain and scale up their businesses. The programme should offer mentorship, sponsorship, coaching and networking for female entrepreneurs with a particular focus on raising capital. It should seek to connect female founders with industry leaders and experienced entrepreneurs from diverse backgrounds and sectors who can offer guidance on business scaling, investment negotiations and market expansion. The Government should work with Metro Mayors to develop the hubs in their areas and to ensure they are appropriately tailored to meet regional needs and locally supported and promoted. (Recommendation, Paragraph 110)
Government Response Summary
The government agrees on the value of supporting female founders and works with the British Business Bank and Metro Mayors, highlighting existing and new initiatives like the UKEF Female Founder Export Accelerator and the Investor Pathways Capital initiative, which targets at least 50% of investment to female fund managers, along with a £100 million expansion of the Bank's regional funds.
Government Response
Accepted
HM Government
Accepted
Government agrees in the value of unlocking the potential of people and place, so that no matter who you are or where you live impacts your business growth. This is why we are proud to work in partnership with the British Business Bank as well as Metro Mayors who share this mission. Addressing structural access to finance barriers faced by entrepreneurs of all backgrounds across the UK is a key element of the Bank’s strategy. Announced in the Industrial Strategy, Government has designed a series of investment partnerships, giving city regions and clusters the expertise and catalytic financing to secure private investment and to deliver Mayors’ Local Growth Plans. This includes funding for Growth Hubs and the Bank’s new programme to support clusters of innovation which will coordinate investment-readiness programmes, strengthen financial networks, and connect high-potential firms in the IS-8 to investors in 10 city regions. This will be underpinned by a £100 million expansion of the Bank’s Nations and Regions Investment Fund to back businesses across the UK. Government will continue to work with Metro Mayors as they set regional economic strategies that prioritise innovation, enterprise, and inclusive growth. We will seek to support Metro Mayors as they create a supportive environment for startups and scale-ups as well as to unlock funding streams and make capital more accessible for all entrepreneurs. In addition, there are already a number of specific Government initiatives to back female founders across sectors and stages. This includes the recently launched UK Export Finance Female Founder Export Accelerator, the Women’s International Networking Programme, WAVE (Women Advancing Venture and Entrepreneurship) programme, and Innovate UK’s Women in Innovation Awards. The Invest in Women Hub, an independent website supported by the Department for Business and Trade, also offers resources including free mentorship, networks, and expert support to help women start, grow, and scale their businesses. The British Business Bank’s Investor Pathways Capital initiative will also unlock potential by reducing the barriers to entry for first-time fund managers and encouraging more talented investors across the UK to start venture funds. As part of the commitment to widening access, the initiative will target at least 50% of investment going to female fund managers that meet the access to capital requirements.