A new report is calling for widespread measures to help female entrepreneurs gain more access to funding.
Think-tank The Entrepreneurs Network (TEN), in partnership with Barclays, will investigate Untapped Unicorns, a report outlining how Britain can do more for female entrepreneurship.
According to The Scotsman, the report’s findings came from interviews, surveys, academic studies and data commissioned by TEN, and concluded that male entrepreneurs were 86 per cent more likely to be funded by venture capital, and 56 per cent more likely to get an angel investment.
Annabel Denham, programmes director at TEN, which was founded in 2012, said:
“It is a frustrating reality that a significant proportion of funding…goes towards male-founded or led businesses.”
She added: “This is not just an economic discussion, though we know scale-ups are vital to the UK economy: we want to see smart, savvy businesswomen getting the same opportunities as their male counterparts.
The results also showed that 91 per cent of all investments into start ups last year was given to companies without female founders. This result was despite 34 per cent of male founder’s businesses folding in comparison to just 25 per cent of female-led businesses folding.
Women were also found to bring in 20 per cent more revenue with half the amount invested.
Debbie Wosskow, member of Female Founders Forum and co-founder of AllBright, an investment platform, commented:
“Female founders are underfunded and yet deliver great returns for investors. I hope that, through the Female Founders Forum and AllBright, we can change the conversation for the future.”