A new report has revealed that a joint government and investor initiative has helped to keep finance flowing to female-led firms and supported jobs throughout the pandemic.
As many as 100 businesses signed up to the Investing in Women Code, with new data suggesting that those signatories are more likely to invest in female-run companies than other investors.
The Code, launched in July 2019, is a commitment to support female entrepreneurship in the UK by improving women’s access to the advice, resources and finance needed to build a business.
It was set up after access to finance was identified as the number one disparity between female and male entrepreneurs by the independent Rose Review.
The Chancellor Rishi Sunak, commented, “Backing Britain’s female entrepreneurs will create jobs and help us build back better.
“I’m pleased to see so many of our major banks and venture capital firms taking action by supporting the Investing in Women Code.
“And I call on others to follow suit and be part of a turning point in attitudes towards investing in female-led businesses.”
The Exchequer Secretary Kemi Badenoch, added, “A diverse and inclusive business environment is good for customers, jobs, entrepreneurs, and society.
“I welcome today’s findings and urge the finance community to build on the success of the code, sign up and help ensure that the innovation, creativity and drive of female entrepreneurs is fully realised through the next stages of our economic recovery.”
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