HSBC UK has unveiled the HSBC Women’s Business Growth Initiative, a £250 million funding programme designed to support women-led businesses by addressing the critical barrier of access to finance.
New research by HSBC reveals that nearly one in five (18%) female business leaders view funding as a significant obstacle to scaling their enterprises.
The initiative comes at a crucial time, as nearly half (47%) of female business leaders plan to expand their operations, either domestically or internationally, in the coming year. However, securing financial support remains the top challenge for one in ten of these entrepreneurs. Additionally, one in five (20%) women have delayed or cancelled their business plans due to difficulties in accessing finance.
The HSBC Women’s Business Growth Initiative aims to bridge the credit gap for women-led businesses, which is estimated at $1.7 trillion globally. Beyond funding, participants in the initiative will gain access to quarterly growth masterclasses hosted by senior leaders at HSBC, as well as networking events designed to connect them with other women-led businesses.
Stephanie Betant, Head of Global Trade Solutions and lead sponsor for women-led businesses at HSBC UK, stated, “Our new Women’s Business Growth Initiative seeks to tackle one of the biggest growth barriers for female business leaders: access to finance. Without sufficient credit lines, women are too often forced to sit on their innovative business ideas and growth plans, or cancel them completely.”
Betant added, “At HSBC UK, we want to drive meaningful change by using our financial expertise and global network to help women-led businesses realise their full potential, helping them to achieve growth and create a stronger economy.”
HSBC’s research, which surveyed 1,014 female business leaders, also highlighted that nearly one in four (23%) do not seek support from anyone, including family, friends, or colleagues, when facing challenges within their businesses. Recognising the need for broader support, HSBC UK will launch quarterly masterclasses covering key growth topics such as supply chain management, selecting international markets, and crafting business plans and forecasts.
The bank will also organise networking events to bring together businesses involved in the initiative, fostering a community of support and collaboration among women-led enterprises.
With this comprehensive approach, HSBC UK aims not only to provide financial backing but also to create a robust support network that empowers female entrepreneurs to thrive and contribute to a more dynamic economy.
