UK Export Finance (UKEF) and Female Founder Finance have
partnered up to help more women-owned businesses access export
finance support to help grow their business and compete on the
international stage. Having launched in June 2023, Female
Founder Finance has handled over £115 million worth of funding.
Female Founder Finance works with women who have founded their
own businesses and who have been disadvantaged when seeking
access to finance.
The partnership between UKEF and Female Founder Finance will
streamline the process for referring eligible businesses into one
another's financing programmes, therefore reducing missed
opportunities for women owners. For example, Female Founder
Finance can introduce their clients to UKEF's short-term products
for small exporters, including capital guarantees, bond support
guarantees and export insurance policies. In turn, UKEF can refer
female clients to Female Founder Finance where appropriate.
According to the Rose
Review, only six percent of UK women run their own
businesses, compared to around 15% of women in Canada, almost 11%
of women in the USA, and over nine percent of women in Australia
and the Netherlands. The report also estimates £250 billion could
be added to the UK economy if women matched men in receiving
business investment.
Tim Reid, CEO of UK Export Finance, said:
Supporting small businesses is a priority at UKEF. Each year we
support a large number of small businesses. Just last year, 88%
of businesses to which we provided a loan, guarantee or insurance
were small or medium-sized businesses. By partnering up
with Female Founder Finance we will reach out to more women-owned
businesses, providing financing to support them to increase their
exporting capacity.
Roxanne Goodman, Founder of Female Founder Finance,
said:
By working in partnership with UK Export Finance we can equip
women-led businesses with the knowledge and funding they need,
and empowering them to reach new international markets, fuelling
growth and innovation through export finance, and adding back to
the growth of the UK. Together, we can open doors to new markets,
drive innovation, and ensure that the voice of women
entrepreneurs resonates worldwide.
This announcement was made in the run-up to Small Business Saturday (7
December 2024), an annual event which celebrates small businesses
across the country.
