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New fund available for female entrepreneurs
Posted by peopleperhour.com -
26/06/2008 12:52
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Female entrepreneurs are to be able to access a £10 million fund to finance loans, training and mentoring.
A partnership between Lloyds TSB and Enterprising Women is offering members the chance to apply for £30,000 loans from the fund, and is intended to help women entering the world of entrepreneurialism with their business ideas.
Chief executive of Enterprising Women, Bev Hurley said: "Many entrepreneurs…still don't robustly test and validate their business plans against…commercial reality.
"Lack of knowledge about the challenges, costs and timescales of getting consumer revenues can lead to struggling and unsustainable businesses."
The plan also includes advice direct from Lloyds TSB relationship managers, who have local knowledge and can take personal decisions on lending to female business leaders.
Ms Hurley added that women will often take a more cautious approach to risk than men when setting up their business, and with that in mind the Lloyds relationship managers can be chosen by the entrepreneurs for those who they think they will work best with.
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