Women-Led Businesses Hold Key to Economic Growth, Says Metro Bank's Jenny Francis

• The enormous economic potential of women-led businesses was highlighted by Jenny Francis, Local Director at Southampton Metro Bank
• Cited the Rose Review, which projects that if women launched and expanded businesses at the same rate as men, the UK economy could gain £250 billion.

The unrealized economic potential of women-led businesses was highlighted by Jenny Francis, Local Director at Southampton Metro Bank. She cited the Rose Review, which concluded that if women launched and expanded businesses at the same rate as men, the UK economy could expand by £250 billion.

Jenny noted that women-owned enterprises are playing a bigger role in innovation and economic expansion across a variety of industries. She did, however, recognize the continued difficulties faced by female entrepreneurs, especially in the area of funding. She pointed out that women are impacted by the so-called "funding gap" at every stage of business development, with many being reluctant to take on debt in order to start or grow their enterprises.

According to the Rose Review, women look for more assistance in four main areas: childcare, networking opportunities, mentoring, and funding availability. Thankfully, a variety of organizations and resources are available, including the Women’s Business Network, which holds online meetings every two weeks, Women in Business, and local chambers of commerce with women-focused groups. Subject to eligibility, funding sources such as the Enterprise Hub, Innovate UK, and the Female Founders Fund also offer financial assistance.

Jenny emphasized Metro Bank's community-focused strategy, which places a strong emphasis on relationship banking. She stated, "We have local business managers and directors in every store to directly support businesses in their communities." She also mentioned that Metro Bank works closely with important local influencers to provide businesses with the resources they need to expand.

Women entrepreneurs in Southampton have achieved significant success in fields like personal services, healthcare, education, and law. Metro Bank frequently arranges networking events at its branches to help foster this expansion by giving established and aspiring women entrepreneurs a place to meet with peers, exchange experiences, and get advice.