£10 million fund for women entrepreneurs
Jun 25 2008
£10 million fund has been established for aspirational female entreprenuers
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A £10 million fund has been established which will finance loans, training and mentoring for aspiring female entrepreneurs.
Networking community Enterprising Women is offering its members the chance to apply loans of up to £30,000 from the fund, which has been set up in partnership with Lloyds TSB with the aim of helping women make the most of their business ideas.
Bev Hurley, chief executive officer of the company behind Enterprising Women, remarks that women often take a more cautious approach towards risk and debt than men. Another challenge faced by both male and female entrepreneurs is formulating a realistic business plan, she adds.
Hurley says: 'Many entrepreneurs ... still don't robustly test and validate their business plan against ... commercial reality. Lack of knowledge about the challenges, costs and timescales of getting customer revenues can lead to struggling and unsustainable businesses.’
The UK government-backed Women's Business Development Agency says that encouraging women to found their own firms is 'vitally important' for the economy.
Comment by Rosie Armstrong
Sunday 4th January 2009I own a small salon and getting funding from high street banks is impossible so Iam hopping with the new funding from the government for small business that I stand a chance of getting some sort of funding. Rosie Armstrong
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Comment by Maxine Hall
Tuesday 13th January 2009im looking to open a laundrette can anyboby point me in the right direction for a goverment grant please
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Comment by jayne vickers
Wednesday 14th January 2009I am in the process of starting up an aromatherapy business and would like some information on the funds available to aid women in business.
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Comment by kathleen hall
Thursday 15th January 2009The government has been trying to court female entrepreneurs over recent months with new funding programmes.
In addition to the £10 million mentioned above, in November it allocated a further £25 million to businesswomen. See our Women in Business channel for more information.
The money has been made available through the Aspire Fund and can be accessed via your local Business Link office. For information on more general grants available visit our resource centre in the finance channel.
All the best with your business endeavours.
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Comment by Edwina Koffie
Saturday 7th February 2009I am in the process of setting up a childminding business and would need a big premises for it as I would like to live there as well to be able to operate effectively and efficiently.I would therefore like information on the funds available to help women in business.
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