Female entrepreneurs, senior industry representatives and local leaders came together at the UKEF 'Northern Women in Business' reception in Leeds.
Hosted by UK Export Finance, the event focused on breaking down barriers for women in business and encouraging more women-led businesses to take up international trade opportunities.
UKEF's financing support for small businesses was worth over £570 million last year, while an independent review estimates around a quarter of a trillion pounds could be added to the UK economy if women received more business investment opportunities.
Over 100 female entrepreneurs, banking representatives and government officials came together last night to celebrate the success of British businesswomen and to explore ways of reducing financial barriers for women-led firms seeking to grow their operations and export.
Hosted at The Studio in Leeds by government department UK Export Finance (UKEF), the event welcomed speakers from prominent groups Female Founder Finance and the Invest in Women Taskforce .
UKEF is a government department which helps businesses to export by offering financing guarantees and insurance - support which helps companies to fill their order-books, invest in growth and create wealth.
In the 2023-24 financial year, UKEF's backing for businesses contributed £3.3 billion to the UK economy and supported up to 41,000 jobs across the country. The department has set an objective to support more women-led businesses as part of its business plan.
While this is good news for firms across the country, according to the Rose Review , £250 billion could be added to the UK economy if women matched men in receiving business investment.
Gareth Thomas, Minister for Exports, said:
One of the priorities for this government is to break down barriers that women in business face, which includes access to finance.
UK Export Finance is working alongside the broker Female Founder Finance to ensure its suite of services reach more female business owners so they can secure new investment opportunities and grow their operations.
UKEF recently signed a partnership with Female Founder Finance. Together, they will streamline the process for referring eligible businesses into one another's financing programmes, therefore reducing missed opportunities for women owners.
Roxanne Goodman, Founder of Female Founder Finance, added:
The UKEF and Female Founder Finance partnership is a game-changer for women-led businesses looking to scale globally. Events like this reception are crucial for connecting female founders with the trade finance solutions they need to seize international opportunities.
By breaking down barriers to funding, we're empowering more women to succeed in international trade.
UKEF's support for women-led businesses complements the government's priorities for economic growth and breaking down barriers for businesses across the UK as part of its Plan for Change.
The event comes after the Chancellor's backing for the Invest in Women Taskforce - which aims to create one of the world's largest investment funding pools for female founders - as part of this government's mission to grow the economy.
