Women are losing out on start-up cash

Women business owners in the UK receive a third of the amount of start-up
finance as male counterparts, prompting concerns that this could exacerbate the
entrepreneurial gulf between the sexes.

The ACCA research also revealed that women were less likely to use external
financing as their business grew. Victoria Johnson, senior policy adviser at
ACCA, said no progress had been made in the last seven years in boosting women
entrepreneurs’ access to finance.

‘Banks say they are undercapitalised. If start-ups don’t have enough funding,
it could stop the business growing and could ultimately lead to it failing,’ she
said.

While male entrepreneurs ranked accountants as the main source for business
advice, women in the sample were more likely to go to friends and family or a
local Business Link, ranking accountants fifth in their list.

ACCA will launch the research at an event with MPs next Monday.