Female entrepreneurs ‘not taken seriously’ when seeking finance

One in six female bosses at UK small and medium sized businesses (SMEs) believe they have had an application for finance denied because of their gender.
According to a recent study, which surveyed more than 1,000 business decision-makers at SMEs across the UK, 18 per cent felt their applications had been denied because of personal opinion, 15 per cent felt they struggled to be taken seriously, and 18 per cent thought they had pushed themselves too hard because they are a woman.
Overall, almost half (46 per cent) of female business leaders of SMEs admitted to experiencing some form of discrimination, compared to 30 per cent of their male counterparts.
A spokesperson for the report says: “The finance industry should be empowering people to innovate and generate wealth and discrimination of any form is detrimental to this.”
All companies will come up against a financial challenge at some point in their business lifecycle. Whether it’s customers paying late, an office move, or some important research and development (R&D)* they must undertake to develop new products or advance their business, meeting these financial needs can make the difference between surviving and thriving or business failure. Many companies decide to use business finance in these situations, to pay for the up-front project costs.
When you are busy running the day-to-day, it is hard to find the time to research all of the funding options available — let alone decide which one to apply for. Our specialists at Beavis Morgan group company BM Structured Finance, provide impartial advice on all aspects of business finance, advising and assisting clients in sourcing the right financial products for their specific business needs.
To find the right finance for your situation quickly and easily, contact Simon Belton at BM Structured Finance or your usual Beavis Morgan Partner.
* Research & Development Tax Credits for SMEs: Money back for investing in innovation