HSBC Supporting Female Entrepreneurs
Posted in Funding
HSBC has launched the Female Entrepreneur Fund as a source of capital investment for small and medium businesses operated by women across the UK. Through the Fund, HSBC wishes to build a partnership with female entrepreneurs that could help take their businesses to the next level and realise their potential. The Fund sits alongside the HSBC Roar initiative, which enables female entrepreneurs to access a range of masterclasses and networking opportunities. Small and medium-sized businesses led by women may apply. The Fund will be open to both new and existing customers.
HSBC research has shown that female entrepreneurs receive five percent less funding than male entrepreneurs, globally. The biggest barriers to female entrepreneurs accessing capital are:
- Access to networks – a lack of peers and mentors is limiting female entrepreneurs in terms of growth
- Role models – female entrepreneurs are more likely to be inspired to start their business by other women in their industry or female role models
- Overcoming bias of investment panels
- Lack of investment knowledge – female founders want more transparent investor criteria and constructive feedback.
The Fund will provide over £819 million in lending to female-owned businesses over the next 12 months. Loans will be arranged with the bank according to individual needs and circumstances.