Start Up Loans celebrates £50m of loans to female entrepreneurs in the South East
Start Up Loans today announces that it has provided female founders in the South East with £50m in loans since the programme’s inception in 2012. In the regions outside of London, the South East has received the third highest volume of female funding in England, demonstrating it’s a key region for female entrepreneurship.
Loans to female-led start-ups make up 38% of the total loans issued by the programme to entrepreneurs in the South East, which broadly reflects the overall programme’s gender split while exceeding the level of female ownership in the business population. Wider market data shows that, in 2022, 18% of smaller businesses with employees and 20% of smaller businesses without employees were female-led.
Kent, Hampshire and Surrey are hotspots for female entrepreneurship, occupying the top three positions in terms of the volume of finance lent under the programme. Kent is also the South East county accounting for the highest number of Start Up Loans to female founders.
One such business owner to receive a loan is 27 year old TJ Bouchada, founder of Moody Cow Nails in Milton Keynes, who was this year chosen as a Start Up Loans Ambassador.
TJ Bouchada, founder of Moody Cow Nails said: “Launching Moody Cow Nails earlier this year has been an incredible journey, one that’s taught me so much about running a business. My Start Up Loan was invaluable in helping me turn my vision into reality, and the process was really straightforward.
“As someone who knew very little about business ownership before taking out my loan, I’m passionate about encouraging other women in the South East to consider launching something of their own as a viable career path. Start Up Loans could be the catalyst you need to bring your own business to life.”
In total, more than 12,000 founders in the South East have used a Start Up Loan to start or grow their businesses since 2012, with one in ten (11%) loans going to young entrepreneurs aged between 18-24.
Louise McCoy, commercial managing director, Small Business Lending at the British Business Bank said: “Each time we reach a lending milestone, whether regional or national, we want to celebrate the remarkable businesses that have benefited from Start Up Loans in that area. We’re proud to have provided over £50 million in funding to nearly 5,000 female founders in the South East alone. With inspiring entrepreneurs like TJ, we hope to encourage more women across the region to consider starting their own businesses and join the South East’s thriving network of female founders.”
Start Up Loans provides fixed-interest rate loans of up to £25,000, along with pre-and-post loan support and mentoring.
