Peer support for business growth is one of the most reliable accelerators for a woman running a growing business in the UK. Viv Parry, Founder and Managing Director of Exquisite Handmade Cakes in Leeds, found that being surrounded by other ambitious founders helped her see the broader potential of her company. She took part in the Goldman Sachs 10,000 Small Businesses UK programme, a free initiative that supported high-growth-potential small businesses with specialist advice, mentoring and peer learning. The experience, she says, was transformative.
Research from the Women in Business: Key UK Facts cornerstone and the Alison Rose Review of Female Entrepreneurship (2019) consistently shows that women-led businesses are less likely than male-led businesses to seek external finance or join peer networks, yet those that do are more likely to scale. Programmes that combine mentoring, finance skills and peer learning can help close that gap.
“My business had been growing year on year since we launched in 2004, but I did not really see its broader potential until I was on the programme with other like-minded business owners,” says Parry. “They gave me encouragement and valuable feedback which helped me to raise my game and develop a much greater sense of belief about what is possible. I now feel much more confident. As a result, I even delivered the graduation speech in front of my peers, which was quite a change compared with the start of the programme, when I just froze speaking in public.”
That new-found confidence fed into ambitious growth plans for Exquisite Handmade Cakes, which supplies upmarket cakes to the catering and food-service sector as well as direct to consumers. The company’s client list has continued to expand and has included major names such as Sodexo, Grand Central trains, the MCC and Café W in Waterstones, with products also supplied into events such as the Chelsea Flower Show.
Although baking cakes is not Viv’s speciality, managing the finances is her area of expertise. Trained as a Chartered Accountant, Parry believes that passion must be balanced with the ability to step back and view the business objectively. Taking that strategic view on the programme helped her identify strengths, weaknesses and growth opportunities in the business.
Why peer support for business growth matters for women founders
The evidence for peer support is not anecdotal. The Alison Rose Review of Female Entrepreneurship (2019) found that women-led businesses are less likely than male-led businesses to seek external finance or join peer networks, yet those that do participate are more likely to scale. The British Business Bank’s Small Business Finance Markets 2025 report continues to highlight that women-led businesses remain underrepresented among those seeking external finance, and that addressing confidence and network gaps is as important as addressing product gaps.
The implication is clear: women founders who build strong peer networks are better placed to identify the right funding routes, prepare credible pitches and avoid the common trap of under-asking. Peer support also helps normalise conversations about valuation, equity and repayment, which many women founders report finding uncomfortable without a trusted sounding board.
Peer support works because it does three things at once. It provides practical advice from people who have faced similar decisions. It creates accountability, so strategic goals do not slip behind daily operations. And it builds confidence, which the Rose Review identified as a significant barrier to growth for women-led businesses.
Finding the right peer support in 2026
The UK support landscape has changed. The government-backed Help to Grow: Management programme has now closed to new applicants, but several established alternatives remain open to women-led businesses.
- Growth Hubs are the regional gateway to business support, mentoring, peer networks and funding advice across England. They can signpost you to local networks and specialist advisers.
- Innovate UK EDGE offers specialist support for innovative businesses looking to scale, including access to finance, commercialisation and international growth advice.
- The British Business Bank is the UK government-owned economic development bank. It helps smaller businesses access finance through a range of schemes and publishes the annual Small Business Finance Markets report.
- Women Presidents’ Organisation runs global peer advisory groups for women-led businesses, with UK chapters offering confidential peer support.
- Founder and CEO peer networks such as The Supper Club and Entrepreneurs’ Organization provide structured peer learning for growing businesses.
For a fuller list of communities, see our guide to Women in Business Networks UK: The Best Communities to Join in 2026.
Funding growth with peer backing
Finding finance for growth remains one of the biggest challenges facing small businesses in the UK. Viv’s initial funding came from friends and family, but as the business grew she explored alternative routes. When high-street banks were not supportive, she turned to peer-to-peer lending to finance the purchase of a new machine, successfully raising £50,000.
Today the landscape has evolved. The British Business Bank’s Small Business Finance Markets 2025 report shows that while bank lending remains the largest source of external finance for smaller businesses, alternative finance, including peer-to-peer lending, crowdfunding, revenue-based finance and specialist asset finance, continues to provide valuable options for businesses that lack the collateral or trading history required by traditional lenders. The key is to match the funding source to the purpose: asset purchases, working capital, product development and online growth each require a different approach.
For women founders considering alternatives, our Crowdfunding for female founders UK: 2026 platform guide and How Female Founders Boost Revenue Without External Funding explain the practical options.
“It was interesting to notice that as more bids were made, the interest rate went down, so it made it more affordable for us,” Viv recalls. “The investors have a much more powerful relationship with the business than traditional lenders, as they become advocates of the business.”
“Initially I found it odd to share a lot of information about our business in a public manner, but then I said to myself, if peers think it is viable, they will want to invest. I would consider using crowdfunding again in future, perhaps for something that does not have an asset value, such as a website as a route to online selling. That is where it might get more tricky, but I would hope that each investor would also become a customer.”
Objectivity, people and values
Parry’s ability to be objective even helped her start the business. During her accountancy career she was involved in a management buyout with several colleagues. When the deal fell through, she took time out to marry and start a family. While raising her daughters, she took a bookkeeping job to earn money and happened to be working in a bakery. When the bakery went into liquidation, Viv believed she could build a business from its assets and bought them for £20,000.
“Buying the assets from a failed business is quite a negative way to start up,” Viv comments. “However, I probably would never have had the confidence to do so had I not been through a similar situation before with the MBO, so it did not faze me to start up a business in this way.”
She also learned that people challenges demand the same objectivity. “Being able to step back and review things objectively helped me to see that some people were going to be able to grow with the business in future and others were not. Our vision and values are what distinguishes us from our competition and it very soon becomes apparent when we have employed people who do not share those values.”
It is clear from Parry’s experience that any owner with growth ambitions must be able to work on the business, not just in it. Taking an objective perspective is vital to understanding whether the business is scalable. Many people find this difficult because they become too emotionally attached to the product or service they offer. By finding some form of peer support, they can hear advice and ideas from others with similar ambitions and gain the confidence to act.
Viv Parry’s three top tips for businesses with growth aspirations
- Believe in what you are doing
As the leader, if you believe in your business and can convey that message with passion, it inspires your employees, suppliers and customers, even the bank. - Invest in a good accountant
“Good” means one that can think strategically about your business, help you plan for the future and manage the finances. Make the investment, even before you think you can afford it. - Develop a great team around you
Find people who have the right attitude and passion for your business, then grow their skills and capabilities internally. That way you can build greater loyalty and commitment in your team.
Action steps to build your peer support circle
- Audit your current support circle. Are you regularly speaking to founders who are one or two stages ahead of you?
- Contact your local Growth Hub to find peer networks, mentoring and funding advice in your region.
- Review the British Business Bank: New Funding Rules for Women Founders to understand the latest finance options.
- Choose one structured peer group or programme to join within the next quarter, and commit to attending consistently.
- Before seeking finance, ask a peer or mentor to review your pitch and challenge your assumptions on valuation, use of funds and repayment capacity.
Viv Parry is Founder and Managing Director of Exquisite Handmade Cakes. If you are looking for peer support for business growth, explore our women in business networks guide or UK women in business facts to find the right community for you.
