Daily Mail

Half of female bosses are denied loans for business

- Daily Mail Reporter

HALF of female entreprene­urs have been rejected for a loan to fund their new business, a survey has found.

Nearly 53 per cent of women across the UK admitted that having limited access to finance has made it challengin­g to start their own firms, financial platform Tide found.

Half of women entreprene­urs applying for a loan or investment are rejected, while being shut out from accessing funding or a loan was seen as the biggest barrier to successful­ly launching a business.

And female business owners hit out at being viewed as ‘parttimers’ because they have children or perceived as less serious profession­als than their male counterpar­ts. The challenges

‘Seen as less serious than men’

were more pronounced for black women, with more than two-thirds of black female business owners finding the process challengin­g. This compares to just under half of white or Indian women, exposing the additional barriers that women from ethnic minorities face.

The report also revealed regional divisions, with businesswo­men in Yorkshire and Humber and Scotland struggling more than any other area to access finance.

The findings come despite the Government striving to stimulate growth and boost business investment. However, numerous financial firms have pledged to help women entreprene­urs access funding.

Newspapers in English

Newspapers from United Kingdom