HSBC UK has unveiled the HSBC Girls’s Enterprise Progress Initiative, a £250 million funding programme designed to assist women-led companies by addressing the crucial barrier of entry to finance.
New analysis by HSBC reveals that almost one in 5 (18%) feminine enterprise leaders view funding as a major impediment to scaling their enterprises.
The initiative comes at a vital time, as almost half (47%) of feminine enterprise leaders plan to broaden their operations, both domestically or internationally, within the coming 12 months. Nevertheless, securing monetary assist stays the highest problem for one in ten of those entrepreneurs. Moreover, one in 5 (20%) ladies have delayed or cancelled their enterprise plans as a consequence of difficulties in accessing finance.
The HSBC Girls’s Enterprise Progress Initiative goals to bridge the credit score hole for women-led companies, which is estimated at $1.7 trillion globally. Past funding, contributors within the initiative will acquire entry to quarterly development masterclasses hosted by senior leaders at HSBC, in addition to networking occasions designed to attach them with different women-led companies.
Stephanie Betant, Head of International Commerce Options and lead sponsor for women-led companies at HSBC UK, acknowledged, “Our new Women’s Business Growth Initiative seeks to tackle one of the biggest growth barriers for female business leaders: access to finance. Without sufficient credit lines, women are too often forced to sit on their innovative business ideas and growth plans, or cancel them completely.”
Betant added, “At HSBC UK, we want to drive meaningful change by using our financial expertise and global network to help women-led businesses realise their full potential, helping them to achieve growth and create a stronger economy.”
HSBC’s analysis, which surveyed 1,014 feminine enterprise leaders, additionally highlighted that almost one in 4 (23%) don’t search assist from anybody, together with household, pals, or colleagues, when going through challenges inside their companies. Recognising the necessity for broader assist, HSBC UK will launch quarterly masterclasses masking key development subjects corresponding to provide chain administration, choosing worldwide markets, and crafting enterprise plans and forecasts.
The financial institution can even organise networking occasions to convey collectively companies concerned within the initiative, fostering a neighborhood of assist and collaboration amongst women-led enterprises.
With this complete method, HSBC UK goals not solely to supply monetary backing but in addition to create a strong assist community that empowers feminine entrepreneurs to thrive and contribute to a extra dynamic financial system.
