Female Entrepreneur Fund provides $1bn in lending

Female-owned businesses received just 3% of start-up funding in 2019, while venture capital for female-founded enterprises hit a five-year low of 2% in 2021. Access to funding remains one of the biggest hurdles for female business leaders worldwide and Boston Consulting Group estimates closing the gender gap for women-led businesses could boost global GDP by US$5 trillion.

HSBC is also launching its new Roar initiative, which enables female entrepreneurs, as well as successful fund applicants, to access a series of masterclasses hosted by experienced business leaders, tailored networking sessions with major companies in markets where the fund operates, insights from the investor community and the opportunity to pitch to angel investors, and bespoke advisory for female entrepreneurs from experienced HSBC bankers.

‘By introducing the Female Entrepreneur Fund and the HSBC Roar programme to women across the islands, we are building on HSBC’s commitment to support female-led businesses in our local markets,’ said Aline Ayotte, head of commercial banking, HSBC, Channel Islands and Isle of Man.

‘We know from global statistics that women tend to receive significantly less funding than their male counterparts and the Female Entrepreneur Fund and the Roar programme provide an opportunity to counter some of the bias faced by female leaders. Small and medium-sized businesses will be the bedrock on which our island economies and communities are rebuilt in the wake of the pandemic and our focus is on providing a full range of support to women to ensure they achieve their ambitions.’

All fund applicants will have access to the HSBC Roar programme, while women in the islands can also sign up to participate in the programme by 27 May, with a number of virtual and local events to be announced in due course. See www.business.ciiom.hsbc.com/en-gb/campaigns/ female-entrepreneur-fund.