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£25 million fund for Women's Enterprise

A £25 million investment fund for women-led businesses was launched this week by at the Everywoman Conference on Women’s Enterprise.

Shriti Vadera, Minister for Economic Competitiveness and Small Business, announced the new Government- and private sector-backed Aspire Fund to mark Global Entrepreneurship Week.

The Aspire Investment Fund is the first of its kind and will receive over £12.5 million in funding from the Department for Business to be matched by a further £12.5 million from private sector investment.

The fund will act as a beacon to encourage women with businesses to seek appropriate equity finance and will also demonstrate to the business community what investment opportunities already exist from businesses being run by women.

Shriti Vadera said: “There are 20% more people in enterprise in the US than in Britain, and the majority of that gap is made up of women. Getting more women entrepreneurs is an economic issue not just an equality issue. If we were to match US levels of women’s enterprise there would be 900,000 new businesses in the UK.

“There is a wealth of untapped talent and economic opportunity that could significantly boost the economy in these uncertain times. The Women’s Investment Fund marks the Government’s strong commitment to support women in business”.

Co-Chairs of the Women’s Enterprise Task Force (WETF), Pam Alexander and Glenda Stone said: “The Women’s Enterprise Task Force welcomes the launch of the Aspire Fund, which will help address a key funding gap for women entrepreneurs. As co-chairs of the Task Force, we look forward to working closely with BERR and CfEL to make this fund a success and to build on existing initiatives supporting women business owners.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .