Chancellor backs female entrepreneurs

Date: 13th March 2008

Female entrepreneurs will be given more encouragement - and financial assistance to launch their own businesses, it was announced yesterday's Budget.

Chancellor Alistair Darling outlined a series of measures aimed at increasing the number of female small business owners in the UK.

Plans were announced to a new £25 million fund, including £12.5 million of government money, which will be used to provide female entrepreneurs with practical business advice and access to finance.

The minimum investment which will be handed out is £250,000, according to the Mail.

Women will be able to apply for finance if they are considering launching a small business, or already have one and require further investment.

Calypso Rose, founder of accessory company Clippyart, commented: "When I started a grant would have been very helpful.

"It would be very useful now too. It would help with cash flow, which is a big concern for small businesses."

However, she condemned plans to increase corporation tax, adding that small business owners have already been hit by the "credit crunch".

According to the Higher Education Career Services Unit, the average UK entrepreneur is male and has parents from an entrepreneurial background.