PARLIAMENTARY WRITTEN QUESTION
(2 April 2025)

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of funding disparities on the growth potential of female-led and minority-led businesses; and what steps he is taking to work with public investment institutions to close that gap.

Asked by:
Kanishka Narayan (Labour)

According to data from research firm Beauhurst, the proportion of equity finance to female-led teams was stark at 2% in the first half of 2024, in comparison to 86% for all-male teams. To directly increase this, the government-backed Invest in Women Taskforce has launched a £255 million fund to invest in female entrepreneurs through female investors.

To help increase the availability of funding to minority-led businesses, the British Business Bank launched the Community ENABLE Funding programme in November 2024, expected to issue loans worth up to £150 million over the next 2 years.

Further, the Small Business Access to Finance call for evidence, launched on 13 March 2025, considers the difficulty of accessing finance for female and minority-led businesses. We will take forward further work in those areas once we have properly considered the results of the call for evidence.

Answered by:
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