Funding news - 24/11/2008
Female Entrepreneurs Urged: Aspire To Greatness
A groundbreaking new £25 million equity fund for women-led businesses
has been launched.
The Aspire Investment Fund – said to be the first of its kind in the UK
– will offer women who own businesses or who have entrepreneurial ideas
the chance to secure financial support.
Half of the budget has been stumped up by the Department for Business,
Enterprise and Regulatory Reform (BERR), with private sector
contributions set to provide the remaining £12.5 million.
The scheme will be targeted at high growth businesses seeking an
investment ranging between £100,000 and £2 million in order for the
venture to develop.
Business Minister Shriti Vadera launched the Aspire Investment Fund at
the Everywoman Conference on Women’s Enterprise Day.
“There are 20% more people in enterprise in the US than in Britain, and
the majority of that gap is made up of women. Getting more women
entrepreneurs is an economic issue, not just an equality issue. If we
were to match US levels of women’s enterprise, there would be 900,000
new businesses in the UK.
“There is a wealth of untapped talent and economic opportunity that
could significantly boost the economy in these uncertain times.”
Overall responsibility for administrating the scheme has been allocated
to Capital for Enterprise Limited, BERR’s equity capital scheme
managers, but funding will be accessed through the Business Link
Applicants will be offered support and assistance from a range of
professional advisors to ensure their ideas are “investment ready”.
Interested individuals should phone the Business Link Helpline on 0845
6009 006 or visit their website (opens a new window)
in the UK – will offer women who own businesses or who have
entrepreneurial ideas the chance to secure financial support.