TO mark International Women’s Day today, the British Business Bank has revealed that nearly 2,300 female entrepreneurs in Scotland have been supported with £17m in funding by its Start Up Loans programme.
With only one in five businesses in the UK is run by a woman. Access to and awareness of funding, as well as family responsibilities, are often listed as top reasons that prevent women from making the decision to work towards becoming successful business owners.
Since 2012, the government-backed Start Up Loans programme has delivered 36,446 loans and provided over £306m of funding to women-led businesses. This accounts for around 40% of the programme’s total delivery, around double the level of women business ownership in the UK.
Of these, 2,269 loans worth £17m went to women in Scotland. One of the recipients of these loans is Eileen O’Farrell, founder of Camperceilidh Campers in Aberdeen, an adventure travel business, who has shared her advice to women who might be considering starting a business of their own.
Eileen O’Farrell, founder of Camperceilidh Campers, said: “My advice for any woman thinking about setting up her own business of the first time is to persevere! Women are great at multitasking in life, and running a business presents the same demands and challenges, as well as sacrifices and rewards – you’ve just got to take the leap.”
Richard Bearman, managing director of Start-Up Loans, commented: “I am very proud that Start Up Loans has provided more than £300m of funding to women entrepreneurs around the UK and £17m in Scotland. No matter your gender, one of the keys to starting a business is having the encouragement and support to do so. As we approach International Women’s Day, it’s always fantastic to see our women business owners speaking up to inspire others to navigate the challenges and ultimately reap the benefits of being their own boss.”
