HSBC UK is committed to supporting women-led businesses with a new £250 million fund.
- Recent studies revealed that 18% of female business leaders see funding as a primary barrier.
- 47% of women business leaders aim to expand, yet financial support remains a challenge.
- An estimated $1.7 trillion credit gap exists globally for women-led businesses.
- HSBC is also providing masterclasses and networking to enhance business growth.
HSBC UK has introduced a significant £250 million initiative to support women-led businesses. This comes in response to recent findings that highlight the financial challenges faced by female entrepreneurs. Specifically, 18% of female business leaders cite funding as a substantial obstacle preventing them from scaling their operations.
Further research indicates that nearly half of all female business leaders (47%) have plans for expansion within the next year. However, securing the necessary financial support continues to be a significant hurdle. One in five women entrepreneurs have even cancelled or postponed business projects due to financial constraints.
Globally, the credit gap for women-led enterprises is estimated to be $1.7 trillion. This initiative by HSBC aims to bridge this disparity by providing crucial financial resources. Stephanie Betant of HSBC has underscored the importance of addressing these barriers, stating that without sufficient credit lines, women’s innovative ideas and growth plans may not come to fruition.
In addition to funding, HSBC is offering quarterly growth masterclasses led by senior leaders. These sessions are designed to empower women entrepreneurs with knowledge in areas such as supply chain management, international market selection, and strategic business planning. Moreover, HSBC will facilitate networking events to create a supportive community among women-led businesses.
HSBC’s comprehensive approach is intended to not only offer financial backing but also to create a robust support network. This will empower female entrepreneurs to realise their full potential, contributing significantly to economic dynamism.
HSBC UK’s initiative strives to dismantle financial barriers, empowering women-led businesses to thrive and strengthen the economy.
