Chancellor backs new taskforce to support female entrepreneurs

The Chancellor of the Exchequer, Rachel Reeves, has pledged her support to the Invest in Women Taskforce, a new initiative aimed at increasing funding for female-founded businesses. The Taskforce aims to create a £250 million investment pool, making it one of the largest of its kind worldwide.

This move follows the Rose Review, which highlighted a £250 billion economic boost if women started and scaled businesses at the same rate as men. Despite women making up over half the UK’s population, they currently own only 21% of businesses.

Speaking about the initiative, the Chancellor commented that she doesn’t take her responsibility to be able to use her position to improve life for women across the UK lightly. She said that her focus is on addressing the gender pay gap, strengthening workplace rights, and investing in childcare.

The announcement coincides with International Equal Pay Day and is part of broader efforts, such as the Investing in Women Code, to address the financial barriers female entrepreneurs face.

For women business owners or those looking to start, the Taskforce could lead to more opportunities for investment and growth, as the government seeks to encourage more equal representation in entrepreneurship.

See: https://www.gov.uk/government/news/chancellor-everyone-can-do-something-for-womens-equality