In 2013, the Government’s Women’s Business Council published its final report with a clear message: the UK should do more to support women who want to set up and grow businesses. The report recognised that women often face distinct barriers when starting a business and argued that enterprise should be promoted as a genuine career option for women seeking flexibility and economic independence. At Prowess, we welcomed the report’s understanding of women’s enterprise issues, but we also argued that the enterprise section did not go far enough. With more women than men losing jobs and turning to self-employment after the 2008 recession, the proposed actions did not match the scale of need.
Thirteen years on, the policy landscape has shifted but the underlying case has not. UK women founders still start businesses with less capital, receive a fraction of equity investment, and are more likely to work in lower-turnover sectors. This article looks at what the 2013 report got right, what has improved, and where support still falls short.
The current picture for women entrepreneurs
Recent evidence shows both progress and persistent gaps. The Rose Review of Female Entrepreneurship, first published in 2019 and updated annually, found that around one in three UK entrepreneurs is a woman. Its 2024 progress report noted that the number of women-led employer businesses has risen, yet the gender entrepreneurship gap remains significant. The Review estimates that closing this gap could add up to £250 billion to the UK economy.
Access to growth capital is still the most visible gap. According to Beauhurst, female-founded companies attracted only around 2 per cent of UK equity investment in 2022. While the proportion has edged up in some subsequent analyses, women-led firms still receive a small fraction of total venture and growth funding.
Women are also more likely than men to start businesses with lower levels of capital, to operate as sole traders, and to work in sectors with lower average turnover. These patterns are not a reflection of ambition or capability. They reflect differences in access to finance, networks, childcare responsibilities, and the design of mainstream business support.
Support available for women starting a business today
The good news is that aspiring women business owners now have access to more resources than in 2013. The British Business Bank’s Start Up Loans programme offers personal loans of up to £25,000, together with free mentoring and support. It is one of the most accessible forms of early-stage finance for women. Our Start Up Loans guide for female founders explains how to apply.
For businesses with growth potential, the Growth Hubs network provides local, impartial advice, workshops and introductions to funding. Innovate UK runs funding competitions and the Women in Innovation Awards to support female founders in science, technology and creative industries. The Department for Business and Trade’s Export Academy and the British Library’s Business & IP Centre national network also offer free, high-quality guidance.
Women-specific support remains important too. Organisations such as Women’s Enterprise Scotland, The Women’s Organisation, Forward Ladies and Everywoman provide training, mentoring, networks and advocacy tailored to women. More recent initiatives include funds and networks designed to increase investment in women-led businesses, though they have not yet closed the equity gap.
Why generic support still falls short
The Women’s Business Council was right to stress the importance of high-quality online resources. Most people now turn to the internet first when they want to start a business, and digital advice can reach women who cannot attend in-person events because of caring responsibilities, work or location.
However, simply putting information online is not sufficient. Support must be marketed and designed in ways that are genuinely inclusive. That means going far beyond superficial campaigns. Eligibility rules, application processes and programme design all need to reflect the realities of women’s lives. For example, high-growth programmes often assess potential by the size of projected profits. Research suggests men typically set more ambitious targets that they are less likely to meet, while women tend to be more conservative and then outperform their forecasts. If selection criteria reward over-optimistic projections, women founders can be unfairly excluded.
Finance information also needs to speak to women’s experiences. Women are less likely than men to apply for external finance, and when they do they often request smaller amounts and are more likely to be turned down. Support should therefore include guidance on alternative funding routes, such as grants, crowdfunding, revenue-based finance and social investment, as well as traditional bank loans and equity.
Local, women-friendly support remains essential
In 2013, we warned that new national resources should complement, not replace, local women-friendly business training and coaching. That warning is just as important today. Women often value peer support, accessible venues, flexible timing and mentors who understand the juggling of business with caring responsibilities.
Yet local provision remains patchy and vulnerable to funding cuts. The closure of WEETU in 2013, after 25 years of supporting women in the East of England, was a stark example of what happens when specialist services lose their funding. Since then, some organisations have expanded their digital reach, but many women’s enterprise projects still rely on short-term grants rather than sustainable core funding. Without that stability, the most disadvantaged women are the first to lose out.
What needs to happen next
The Women’s Business Council was clear that progress should be monitored and reported. While the Council itself no longer meets, its recommendations continue to shape debates about women’s enterprise. To build on its legacy, policymakers and funders should focus on four priorities:
- Invest in local, women-friendly business support that is flexible, accessible and sustainably funded.
- Improve access to finance by collecting and publishing sex-disaggregated data, diversifying funding products, and tackling bias in investment decisions.
- Embed enterprise education in schools, colleges and careers advice, ensuring girls see entrepreneurship as a realistic path.
- Increase the visibility of diverse women entrepreneur role models across sectors, regions and business stages.
Action steps for UK women founders
If you are starting or growing a business in 2026, the following steps can help you navigate the current support landscape:
- Check your local Growth Hub for free, impartial advice and introductions to funding.
- Explore Start Up Loans if you need early-stage finance up to £25,000 with mentoring.
- Look for women-specific networks and mentors who understand your sector and caring responsibilities.
- Research alternative funding routes such as grants, crowdfunding and revenue-based finance, not just traditional loans.
- Review your business forecasts carefully. Conservative but evidence-based projections are a strength, not a weakness.
The 2013 Women’s Business Council report made a strong case for supporting women to start businesses. Thirteen years later, that case is even stronger. With the right support, UK women founders can drive economic growth, create jobs and build businesses that work for them and their communities.
