Treasury unveils plans to find 600,000 new businesswomen

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The government will help parents manage their businesses (Source: Getty)

The government has launched a programme to create another 600,000 female entrepreneurs, after an independent review called for barriers to be torn down.

The plans to add 50 per cent more businesswomen, come after an independent review called for gender barriers to be smashed.

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The Treasury will launch a scheme which encourages banks and other financial institutions to publish a breakdown of their investments by gender.

It also plans to create new banking products for entrepreneurs with families, and help parents manage their businesses.

“I want to build a country where all women can go as far as their talents and hard work can take them,” Prime Minister Theresa May told business leaders in Downing Street.

The review, headed by Nat West deputy chief executive Alison Rose, found only one in three entrepreneurs are women, and the businesses they run are likely to be smaller.

Closing the gap between male and female entrepreneurs could add £250bn to the economy.

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Rose said: “Some of the [review’s] findings are stark but by shining a spotlight on the issues and outlining the barriers and opportunities, the aim is to support the full potential of every woman who has the entrepreneurial spirit and ambition to start or scale their business. Today is just the beginning.”

The review found women are being held back by poor access to and awareness of capital, a greater risk awareness, and disproportionately shouldering caregiving burdens.