Female entrepreneurs offered £25m boost growth
The Government has established a £25 million investment fund to support and promote female enterprise in the UK.
The Aspire Fund, launched earlier this month to coincide with Women’s Enterprise Day, will be jointly funded by Government and the private sector in order to encourage women to seek equity finance to grow their businesses.
Aimed at businesses seeking investment of between £100,000 and £2 million, firms can apply for funding immediately. Those interested in applying for finance should be able to demonstrate significant potential growth.
According to the Department for Business, Enterprise and Regulatory Reform, funding is not restricted to female–only businesses but companies will be required to prove female ‘influence’, in the form of ownership or directorships.
Minister for economic competitiveness and small business, 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.” she added
Entrepreneurs interested in applying should contact their local Business Link adviser.
For more information visit the Business Link website or telephone 0845 6009 006