HSBC introduces a significant £250 million fund aimed at empowering women-led businesses.
- A staggering 18% of women entrepreneurs cite funding as a major barrier for growth.
- HSBC’s initiative coincides with plans by 47% of women entrepreneurs to expand their businesses.
- Access to finance remains a hurdle, with 20% of women delaying their business ambitions.
- HSBC’s program includes masterclasses and networking to bolster women’s business achievements.
HSBC has launched a substantial £250 million fund specifically designed to support women-led businesses. This initiative addresses the critical issue of funding as identified in new research, revealing that nearly one in five female business leaders view financial obstacles as significant to their business growth.
Almost half of the female business leaders surveyed intend to expand their operations in the coming year, either locally or internationally. Despite these ambitions, securing necessary financial support continues to be a primary challenge for 10% of these entrepreneurs, hindering their growth prospects.
The fund also seeks to address the issue faced by 20% of women who have had to delay or cancel business plans due to difficulties in accessing finance. By providing essential credit and support, HSBC aims to close the substantial $1.7 trillion global credit gap affecting women-led businesses.
In addition to funding, the initiative offers participants quarterly growth masterclasses. These sessions are conducted by senior leaders at HSBC and cover essential topics such as supply chain management and international market selection.
Networking events are also organized under the program, creating an environment for women entrepreneurs to connect and collaborate. HSBC hopes that this endeavor will foster a supportive community, empowering women to unleash their entrepreneurial potential.
Stephanie Betant, HSBC UK’s Head of Global Trade Solutions and lead sponsor for the initiative, emphasized the bank’s commitment to overcoming growth barriers for women by leveraging financial expertise and global networks. She stated, “Our new Women’s Business Growth Initiative seeks to tackle one of the biggest growth barriers for female business leaders: access to finance.“
This comprehensive initiative by HSBC signifies a pivotal step toward reducing financial barriers and empowering women entrepreneurs to thrive economically.
