Purbeck looks to bridge the gender gap in funding and support for female founders
As Labour sets out targets for funding female-led businesses through the state-owned British Business Bank and launches a review of the financial exclusion of women, new analysis of personal guarantee backed loans reveals a disparity in the level of financing women are securing compared to men.
Todd Davison, MD Purbeck Personal Guarantee Insurance, the provider of personal guarantee insurance to small business owners and directors said: “The number of new businesses incorporated by female founders reached a record high in 2023, nevertheless, women’s success at attracting finance is not keeping pace with this growth. Although there has been a small rise in the percentage of policies taken by women for personal guarantee backed loans, it’s clear that no matter who’s in charge after the general election, more needs to be done to support female founders. Purbeck plans to play its part in helping female entrepreneurs by boosting awareness of access to funding and raising awareness of personal guarantee insurance as an effective means to mitigate the risks of personal guarantee backed loans.”
