Source · Select Committees · Women and Equalities Committee
8th Report - Female entrepreneurship
Women and Equalities Committee
HC 711
Published 22 October 2025
Recommendations
1
Accepted
Require venture capital firms to increase the proportion of women on investment committees.
Recommendation
It should be a concern to all that a tiny fraction of venture capital investment goes to supporting women-led businesses. Despite numerous reviews and initiatives this situation is getting worse not better. Venture capital firms must do more to challenge …
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Government Response Summary
The government accepts the recommendation, outlining new specific actions through the British Business Bank's Strategic Plan. These include launching the £400m Investor Pathways programme, expanding support to diverse angel networks with new Angel Syndicate Support and Embracing Diversity programmes, and strengthening data collection to promote transparency.
Government Equalities Office
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7
Accepted
Prepare Government to intervene on gender quotas if female entrepreneur investment does not improve.
Recommendation
Wo do not support mandating gender quotas on investment committees at this stage, as measures to improve transparency and increased incentives to change behaviour should be given time to have an effect; but the Government should not rule out intervention …
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Government Response Summary
The government agrees on supporting women-led businesses and highlights its current strategies, including the new British Business Bank £400m Investor Pathways scheme, to back under-represented entrepreneurs and foster an action-based approach through initiatives like the Invest in Women Taskforce.
Government Equalities Office
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22
Accepted
Urge institutional investors to increase support for female-led businesses and the Invest in Women Taskforce.
Recommendation
Institutional investors, including major banks and pension funds, are a key component of the funding landscape. We call on them to do much more to support female-led businesses, including through supporting the Invest in Women Taskforce. (Recommendation, Paragraph 87)
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Government Response Summary
The government accepts this recommendation, stating it is addressing the issue through the Mansion House Accord and British Growth Partnership, coordinating with the Invest in Women Taskforce, and securing commitments from institutional investors to the Women Backing Women Fund of Funds. They are actively working to bring additional Mansion House signatories on board in 2026.
Government Equalities Office
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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 …
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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 Equalities Office
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27
Accepted
Develop a programme promoting targeted, female-focused accelerators in underrepresented high-growth sectors.
Recommendation
The Government should develop a specific programme of promoting targeted, female-focused accelerators in high growth sectors where women are underrepresented. Such a measure was noticeably missing from the Industrial Strategy. (Recommendation, Paragraph 111)
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Government Response Summary
The government has accepted the recommendation, announcing the launch of the UKEF Female Founder Export Accelerator in partnership with Lifted Ventures, commencing in January 2026. This programme is specifically designed to support women-led businesses in high-growth sectors to scale internationally.
Government Equalities Office
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28
Accepted
Develop specific entrepreneurial support programmes for women in postgraduate and postdoctoral studies.
Recommendation
Universities are a vital source of innovative start-ups, but evidence to this inquiry suggests women are less likely to take up entrepreneurship courses and/or develop spinouts than their male peers. This is a missed opportunity for growth. The Government should …
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Government Response Summary
The government has accepted the recommendation, outlining new entrepreneurship fellowships, £25 million for doctoral training schemes, a £4.5 million round of Women in Innovation Awards, and specific women-led Discover and ICURe Explore programmes, all designed to support female entrepreneurs in postgraduate and postdoctoral studies.
Government Equalities Office
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30
Accepted
Review maternity legislation for self-employed women and tailor policies to support entrepreneurial aspirations.
Recommendation
Self-employed women (and those employed via their small business) are poorly served by the UK’s parental leave arrangements. As part of its Parental Leave and Pay Review, the Government should review legislation 57 pertaining to maternity through the lens of …
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Government Response Summary
The government confirms its Parental Leave and Pay review, launched on 1 July 2025 and running for 18 months, will consider parental leave and pay for all parents, including the self-employed, and assess fairness and equality across employment statuses, directly addressing the recommendation.
Government Equalities Office
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40
Accepted
Increase provision of financial and enterprise education in schools, boosting girls' confidence.
Recommendation
The Government should work to increase the provision and relevance of financial and enterprise education in schools and to ensure that it is delivered as a core part of the curriculum. Seeking to increase the financial confidence of girls should …
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Government Response Summary
The government has committed to strengthening financial education in mathematics and citizenship as part of a curriculum review, with a public consultation in 2026, content publication by 2027, and teaching from September 2028. This work will also consider how to increase the financial confidence of girls.
Government Equalities Office
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Conclusions (8)
2
Conclusion
Accepted
The prize of £250 billion plus in potential growth is one that the Government should throw everything it has at pursuing. Current piecemeal initiatives have had little impact, systemic change is required. First and foremost this needs to be led by increasing access to finance for female-founders. Evidence has shown …
Government Response Summary
The government highlights the existing government-led Investing in Women Code as a significant initiative for transparency and accountability, and explains why the FCA does not request reporting from venture capital firms due to proportionality and streamlining plans.
3
Conclusion
Accepted
We welcome new initiatives by the British Business Bank to support more women into venture capital, particularly the commitment that at least 50% of investment from the Investor Pathways Capital initiative will be targeted at female fund managers and the £100 million investment in the Invest in Women Taskforce. However, …
Government Response Summary
The government welcomed the committee's focus, sharing the ambition to improve access to finance for female entrepreneurs, and detailed the British Business Bank's existing initiatives and new Strategic Plan which already embed diversity and inclusion, stating they will continue to work closely with the Bank.
14
Conclusion
Accepted
Angel investment is a vital lifeline for early-stage female-led businesses, particularly in sectors where institutional funding remains elusive. While recent growth in angel investment for women-led ventures is encouraging, the gender imbalance among angel investors continues to limit progress. Increasing the proportion of women in angel networks directly correlates with …
Government Response Summary
The government acknowledges the role of institutional investors and is addressing investment gaps through initiatives like the Mansion House Accord and the British Growth Partnership. It highlights the Invest in Women Taskforce and the Women Backing Women Fund of Funds, which are channeling institutional capital from various partners into female-led venture funds and businesses.
15
Conclusion
Accepted
We welcome the increase in funding to the British Business Bank’s Regional Angel Programme. However, we are not reassured that a sufficient proportion of the funding will go to addressing the market failure in support for female entrepreneurs and we are concerned about transparency in who receives funding from it. …
Government Response Summary
The government agrees with unlocking potential and describes a £100 million expansion of the British Business Bank's innovation clusters program, alongside other initiatives like the UKEF Female Founder Export Accelerator. Critically, the British Business Bank's Investor Pathways Capital initiative will target at least 50% of its investment towards female fund managers.
21
Conclusion
Accepted
There is a clear gap in support for female entrepreneurs who wish to scale their business or even to make it sustainable, particularly those whose businesses do not fall within those sectors of the economy considered ‘high growth’. We believe the Invest in Women Taskforce is an appropriate vehicle to …
Government Response Summary
The government acknowledged the value of unlocking potential and detailed existing initiatives and programmes, including a £100 million expansion (of an unspecified fund, possibly related to the British Business Bank), that aim to support female entrepreneurs and address access to finance barriers.
24
Conclusion
Accepted
There is a lack of pitch events, accelerators, networks and mentorship opportunities for female founders. Many that do exist tend to be focused on the ‘Golden Triangle’ of Cambridge, Oxford and London, limiting the growth potential of businesses in other regions. This disproportionately affects women, who are more likely to …
Government Response Summary
The government has committed to strengthening financial education in the curriculum, with revised content to be taught from September 2028, to increase financial confidence in girls and enhance future female entrepreneurship.
38
Conclusion
Accepted
Young people in the UK show strong entrepreneurial ambition, yet a lack of financial education and awareness hinders their ability to turn aspirations into viable businesses. While initiatives like Young Enterprise and Talk Learn Do demonstrate the positive impact of financial literacy, there remains a significant gap in provision in …
Government Response Summary
The government commits to strengthening financial education in the curriculum with a revised content plan for 2027 and implementation by September 2028, directly addressing the identified gaps and need for earlier provision to build foundational skills and confidence.
39
Conclusion
Accepted
This gap disproportionately affects young women, who will face greater barriers in accessing networks, mentorship, and funding, and whose confidence drops as they progress through education. Embedding enterprise and financial literacy skills into the curriculum is essential to creating a diverse and capable pipeline of future entrepreneurs. (Conclusion, Paragraph 148)
Government Response Summary
The government is committed to strengthening financial education in the curriculum, with revised content planned for publication by 2027 and teaching from September 2028, directly addressing the identified importance of embedding these skills.