Women’s Enterprise Task Force welcomes new capital fund for female-owned businesses
12 March 2008The new £12.5million Women’s Enterprise Capital Fund, announced in today’s Budget, is welcomed by Women’s Enterprise Task Force (WETF) co-Chairs Pam Alexander, South East England Development Agency (SEEDA) Chief Executive and business woman, Dr Glenda Stone, CEO, Aurora.
"The Task Force is delighted that the Government has agreed to establish a specific fund for female entrepreneurs. We have advocated the creation of such a fund for women as one of our top five priorities. We know that women-owned businesses, on average, utilise only half to a third of the investment capital that male-owned businesses use to fund their businesses," said Pam Alexander.
"The Task Force has identified that although there is an increasing number of women entrepreneurs seeking capital,, a scarcity of intermediaries that will invest time in understanding the different needs of female entrepreneurs means that the two often fail to connect. By presenting an opportunity to create a bridge between aspiring entrepreneurs and capital, this Fund will act as incentive for intermediaries to support more female entrepreneurs and connect them to the cash they need," added Ken Olisa, WETF member, Reuters Board Member and Chairman of Restoration Partners.
"If women-owned businesses were correctly financed from the start, then greater growth would be more likely. This would result in increased job and wealth creation for the economy," added Glenda Stone.
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