UK Export Finance (UKEF) and Female Founder Finance have teamed up to help more women-owned businesses gain access to export finance.
Female Founder Finance works with women who have founded their own businesses and been disadvantaged when seeking access to finance. Having launched in June 2023, the initiative has handled more than £115m worth of funding.
Its new partnership with UKEF is intended to streamline the process for referring eligible businesses into one another’s financing programmes, thereby reducing missed opportunities for female entrepreneurs.
For example, Female Founder Finance can introduce its clients to UKEF’s short-term products for small exporters, including capital guarantees, bond support guarantees and export insurance policies.
Just 6% of UK women run their own business, compared to 15% in Canada, almost 11% in the USA, and more than 9% in Australia and the Netherlands.
By providing better access for female founders, it’s estimated that a quarter of a trillion pounds could be added to the UK economy.
“By working in partnership with UK Export Finance we can equip women-led businesses with the knowledge and funding they need, and empowering them to reach new international markets, fuelling growth and innovation through export finance, and adding back to the growth of the UK,” commented Roxanne Goodman, founder of Female Founder Finance.
Last year, UKEF’s financing support for small businesses was worth more than £570m last year.
Tim Reid, CEO of UK Export Finance, added: “Supporting small businesses is a priority at UKEF. Each year we support a large number of small businesses. Just last year, 88% of businesses to which we provided a loan, guarantee or insurance were small or medium-sized businesses. By partnering up with Female Founder Finance we will reach out to more women-owned businesses, providing financing to support them to increase their exporting capacity.”
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