Imposter Syndrome Limits Women's Growth: HSBC UK Research

• More than one in three (37%) of female business owners claim self-doubt is holding them back from expanding their businesses
• The survey polled 1,006 business-owning women who generate up to £1 million annually, between 15–21 September 2025

HSBC UK research finds that although female entrepreneurs have high growth aspirations, self-doubt is restraining many. More than a third (37 percent) of women in business said feelings of self-doubt were stopping them from growing.

The poll, surveyed 1,006 women company owners with turnovers of as much as £1 million annually. Over half of them finance the business themselves, and almost one in five (18 percent) expressed low confidence to manage money.

The research pointed to the pervasiveness of imposter syndrome—recurring feelings of inadequacy in spite of evidence of success—which is high among successful professionals as well as ethnic minority professionals.

50 percent of female millennial entrepreneurs surveyed reported imposter syndrome. Sara Davies MBE, who has spoken at HSBC UK women in business seminars, suggested women recognize their success and others' confidence in them to counteract self-doubt.

In spite of these obstacles, women entrepreneurs are still aspirational. Almost one in three (31 percent) are looking to expand in the UK in the coming year through new facilities or more home-based clients.

Availability of finance is better than it was last year, with just 16 percent citing it as an obstacle (a drop from 34 percent in 2024). Nonetheless, one in five still feel that existing lending options are not suitable for their business.

HSBC UK introduced the Women's Business Growth Initiative in the previous year to enhance access to finance, networking, and growth support for women business owners.

Over 600 women have signed up to the programme, which includes specialist pitch workshops, events nationwide and quarterly masterclasses created in collaboration with women-owned businesses.

Stephanie Betant, global trade solutions and lead sponsor of women-owned business at HSBC UK, pointed out that a mere 19 percent of companies are owned by women, underlining the existing gender disparity in entrepreneurship.

She highlighted that the initiative is seeking to increase access to capital and opportunities for women entrepreneurs, driving business growth and enabling a more inclusive economy.