First Crowdfunding Platform for Women-led Businesses Launches

Women Enterprise Scotland (WES) has launched the first crowdfunding platform for women-led businesses.

Funding is vital for business start-up and growth and access to capital can speed up the implementation of business plans. Yet access to finance is an enduring challenge for women-led businesses who remain undercapitalised compared to their male peers. Since WES was founded over ten years ago, women have been reporting challenges in accessing the capital they need for growth and women account for just 11% of patent applications.

The Rose Review of Female Entrepreneurship found women start up in business with just 53% of the capital of their male peers and remain undercapitalised. In the world of equity investment studies by the British Business Bank found little has changed for women founders in the past decade and all-female founder teams receive just 2% of equity investment funds.

Rewards and donation crowdfunding is a disruptive innovation increasingly being used by entrepreneurs to capitalise their businesses and enable growth plans. Analysts expect crowdfunding to continue its current trend and grow significantly over the coming years.

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