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Entrepreneurs Panel

Brian Hay
David Pollock
Jeremy Roberts
Laura Tenison
Debbie Pierce
Tony Caldeira
Richard O'Sullivan
Julie Meyer
Charlie Mullins
Jennie Johnson
Michael Oliver
Steve Purdham

More support for female entrepreneurs

Women who feel they have been treated unfairly when applying for a business loan or mortgage will now receive more support when accessing financial products.

The Government has teamed up with the banking industry to create an action plan in order to provide greater transparency.

Independent research on business lending will be broken down by gender to reassure females that lending is done in a non-discriminatory way and track trends.

More tailored information will be given so that women in business, or those on maternity leave, will be able to make the right choices.

The plans follow a review commissioned by the Deputy Prime Minister which found no evidence that UK lenders discriminate against women when it came to applying for business loans or mortgages but concluded that females may be put off applying for a business loan or mortgage because of mis-conceptions.

Jo Swinson, minister for business, women and equalities, said she would like to see more ladies setting up and running their own businesses.

“Banks and building societies already provide a range of support for businesses and individuals but we need to ensure women know what is available to them and that they can readily access help if they need it,” she added.

Jackie Bennett, head of policy at the Council of Mortgage Lenders, added, “While gender discrimination in financial services is something of a myth, the perception of it is important to address.

“It is also important not to mistake responsible lending for discrimination; both men and women should expect their lender to assess their circumstances carefully to enable them to make good, sustainable lending decisions."

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