Female entrepreneurs hold key to £13 billion unlocked potential in Scotland, review finds
“WOULD you take your inner voice to lunch?” was the stand out advice for the women at Ask For More, an event for female entrepreneurs in Glasgow yesterday.
Melinda Matthews’ rhetorical question during the panel discussion was met with a spontaneous round of applause from the 150 attendees. The chief executive of Codeclan was joined at the event, hosted by Royal Bank of Scotland, by author Bella Mackie, Bross Bagels founder Lara Bross, social media influencer Sara Tasker and Paula Ritchie, business development manager at the Edinburgh-based lender.
The women discussed the outcomes of the Rose Review, the report chaired by by the bank’s new executive, Alison Rose, which recommended measures to help women overcome the barriers they face in establishing their own businesses.
“There is over
£250 billion of potential to unlock if women were to reach the same level as men as entrepreneurs,” chair Zara Janjua told the audience. “£13bn of that is in Scotland.”
The four areas identified by the report for improvement are investment, personal branding, social media and confidence.
Confidence was the key subject during the panel discussion and subsequent Q&A.
“You have to advocate for yourself,” Bella Mackie said. The author of bestseller Jog On, which details her battle with mental health issues and the strength she found in daily jogging, said she still struggles to see herself as a businesswoman. “I am my own business – I might not be wearing a business suit and six-inch stilettos – but I have to believe I’m the best person at doing what I do,” she said.
Ms Ritchie added that confidence can be the key to securing investment.
“Having the confidence to tell your story tends to be the trigger for someone buying into you,” she said.
Issues such as the importance of mentors, the reality of pitching and the role of social media were also discussed at SWG3. The event came after research commissioned by the bank which found female entrepreneurs launch their companies with less capital than men.