NatWest Group is a relationship bank for a digital world. We champion potential; breaking down barriers and building financial confidence so the 19 million people, families and businesses we serve in communities throughout the UK and Ireland can rebuild and thrive. If our customers succeed, so will we.
Getting more funding to female entrepreneurs and unlocking their untapped potential is a priority for NatWest. We know that women still don’t receive all the support they need. Having access to data is an important step in ensuring that we are able to harness those starting up in and also scaling up in business, and to ensure we are able to provide innovative support for businesses across the UK.
As longstanding supporters of Women in Business we understand the various challenges that women might face when setting up or running their business. Through our Business Builder and Accelerator programmes, and with over 1,000 Women in Business Specialists across the UK who provide tailored support for women looking to start up and succeed in business, we are determined to play our part in helping female entrepreneurs achieve their ambitions.
For more information, search for: ‘NatWest Women in Business’
In 2019, Dame Alison Rose was commissioned by HM Treasury to lead an independent review into female entrepreneurship in the UK. The original Rose Review of Female Entrepreneurship revealed that £250 billion could be added to the UK economy if women in the UK matched men in starting and scaling businesses.
The Rose Review’s 2023 Progress Report highlighted that, in 2022 alone, women in the UK established over 150,000 new companies; more than twice as many as in 2018. This is despite challenging economic headwinds and the impact of the global pandemic. The report also revealed the growing ambitions of younger female founders; in 2022 16-to-25-year-old women founded nearly 17,500 businesses.
In the past year, the Rose Review and its partners provided over 800,000 opportunities for female entrepreneurs to access direct support. The Investing in Women Code has also continued to grow; representing over £1 trillion in assets under management, improving access to funding for female founders. The newly founded Women Backing Women campaign via the Women Angel Investment Taskforce engaged thousands of new and prospective women angel investors to help unlock new sources of early-stage funding for founders across the UK.
However, there is more work to be done to ensure female founders realise their full potential. The Rose Review and its partners have now set out a fresh set of commitments including to offer three million business support opportunities over three years for female founders across the UK.