smallbusiness.co.uk: Helping your business think big

Alistair Darling has announced a £12.5 million fund which will be spent on redressing the gender imbalance among entrepreneurs.

In his first budget, the chancellor said the fund will 'initially' stand at £12.5 million and will be put aside to 'specifically encourage more women entrepreneurs'.

As part of the government's enterprise strategy, the Telegraph says the new scheme will target mothers through children's centres and will offer advice on how to prepare business plans, how to run a firm, and how to pitch for investment.

A government source quoted by the Professional Contractors Group claims: 'John Hutton [Secretary of State for Business, Enterprise and Regulatory Reform] will say that he wants to see the UK become the most enterprising economy in the world in the next ten years and for that we need the UK's women.'

The Annual Small Business Survey 2006-06 has found that only 14 per cent of small businesses with employees are led by women and business minister Shriti Vadera says that if Britain had proportionately the same number of female entrepreneurs as in the United States, the UK would have 700,000 more businesses.