Female entrepreneurs in London are not receiving enough funding and believe that it is harder for them than their male counterparts, a new survey shows.
New research by the Factors and Discounters Association (FDA) shows that one third of women in London felt it was harder for women to get funding to start their business.
The survey, conducted at the Access to Finance for women entrepreneurs' road show, suggests that 47% of women are delayed from starting their own business by a lack of funding opportunities.
Despite this, 50% still intend to start their own business in the next six months.
Women aged 40 to 50 were more likely to want to start their own business than those aged between 20 and 30, the survey suggests.
The opportunity to 'be their own boss' was the main reason for them wanting their own business, followed by flexible working and financial rewards
Women are as likely to seek advice from family and friends as they are from professional advisers like bank managers and accountants
Kate Sharp, chief executive officer of the FDA, said: “It's astonishing to think that in the 21st century women still feel they don't have the same access to funding as men.
“Financial service providers need to work harder at making women aware of the range of products available for initial start-up and ongoing growth.
“Increased awareness and education will help overcome the perception of a funding gap and ultimately add the health of entrepreneurship in this country.”
© Crimson Business Ltd 2006
