The government has announced a £25m investment fund to stimulate women’s enterprise.
The Aspire Fund, launched this week, is to be jointly funded by government and the private sector to act as a beacon to encourage women to seek equity finance to grow their businesses.
It is also hoped the fund will demonstrate to the business community what investment opportunities already exist from businesses being run by women.
Shriti Vadera, minister for economic competitiveness and small business, said: “There are 20% more people in enterprise in the US than in Britain, and the majority of that gap is made up of women.
“Getting more women entrepreneurs is an economic issue not just an equality issue. If we were to match US levels of women's enterprise there would be 900,000 new businesses in the UK.
Vadera said there was a wealth of untapped talent and economic opportunity that could ‘significantly boost the economy in these uncertain times’.
The fund is aimed at high growth businesses seeking investment of between £100,000 and £2m.
Women entrepreneurs interested in applying for it should go through their local Business Link advisor to access it.
© Crimson Business Ltd. 2008
