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Empowering our female founders this International Women’s Day

Blog post 10 March 2025

In the lead up to International Women’s Day, Sue Barnard, Senior Investment Manager at the British Business Bank, discusses the current investment environment for female-founded and -led businesses and gathers the views of leaders across the North.

Image of Sue Barnard senior investment manager

Starting your own business is one of the most ambitious decisions someone can make in their life. It needs your ultimate focus and dedication, demanding most of your time and energy while also requiring you to take on a significant amount of risk. However, despite the high level of commitment involved in setting up a business, the UK is home to thousands of entrepreneurs who passionately give their all every day to turn their dreams into a reality, working constantly to take their business forward and provide their customers a service they love and believe in. The Northern Powerhouse Investment Fund II (NPIF II) was set up to provide these business owners with the access to finance they need to achieve exactly that.

The importance of International Women’s Day

With £50m invested into businesses across the North since NPIF II was launched in 2024, days like International Women’s Day give us the opportunity to reflect on how the Fund is empowering female-led businesses to grow and thrive.

According to the British Business Bank’s Small Business Finance Markets 2024/25 report, estimates of female-led businesses range from 17% to 30% of the UK’s small business population. To find an answer to why female-led organisations make up a lower proportion of our small business community is beyond the confines of this article, encompassing a multitude of factors from domestic roles and childcare responsibilities, to historical disenfranchisement and outdated stereotypes. However, our own research found that female-led businesses are successfully securing external finance, with only around 35% feeling that it was difficult to access.

So, what we can do right now is listen to what female leaders and those in the investment community are saying, about how we can empower this group and equip more women with the tools and funding they need to succeed.

Voices across the North

Speaking to Veronica Swindale, founder and managing director of nesma, a PR and marketing training provider, she describes her now-or-never experience when running her business:

My biggest professional challenge was the crossroads I reached when considering whether to keep nesma as a low-risk steady-state business or seize the opportunity that had been demonstrated to me through comprehensive research. It was a huge decision to take, but the team we have built to make it happen gives me great confidence in our realising that potential for nesma, our SkillsPartners and our learners.

Veronica’s concern over risk is echoed by Rebecca Pickering, investment manager at Mercia, who shares how

It is common for females to be asked more about risks than opportunities.

For men, there is often a perception that taking a leap of faith may appear more ‘natural’ than to their female counterparts. According to Lizzy Upton, senior manager at the British Business Bank, she believes that having a powerful network to rely on may be an explanation for this:

Female entrepreneurs face a range of barriers, many of which centre around resources & networks. These support better awareness of different funding options, preparation, and introductions when seeking finance, so it's important we boost access to these.

Securing funding from NPIF II in August 2024, founder of Change Accountants, Stacy McVeighty agrees that building your network is a critical step in not only launching a business but starting a career:

Be bold and put yourself out there. I began networking early in my career – it was daunting at first, but now I enjoy it and even run a successful networking group. The more people you know, trust, and build relationships with, the stronger your knowledge and career will be.

Having a strong networking group is an important part of growing your business and having the support around you to take on risk and external finance. For Jasmine Beckett, she believes in going one step further. As the co-founder and director of Patisserie Lane, Jasmine is committed to collaborating with other female-led businesses:

We couldn't be prouder of the achievements we have made being a female led team, an area that generally in many industries is underrepresented. We have also worked with other female led business to achieve our goals and the energy and work ethic that gets brought to the table is simply unmatched.

Despite the challenges that still exist, women should feel more empowered than ever to seek funding and grow their businesses. The success stories of female entrepreneurs and advisers across the North demonstrate that the landscape is shifting, with more women breaking barriers and securing the investment they need to scale their organisations.

While female-led businesses do remain in the minority, their presence continues to tilt the scales, proving that with the right networks, access to funding, and a willingness to take risks, women have every right to be successful and will thrive. NPIF II is at the heart of this drive, and will ensure that it is leading the way when it comes to ensuring female-founders have options for accessing finance.

Further Information

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