The British Business Bank’s Start Up Loans programme has provided more than 5,820 loans, worth over £50 million, to female-owned businesses in the North West.
With 36% of the region’s loans going to female entrepreneurs, the milestone shows the Bank’s efforts to support underrepresented founders in the UK. This compares to government data from 2022, which showed that just 18% of smaller companies with employees were female-led.
This achievement follows recent figures revealing that female-owned businesses in Greater Manchester have received £20 million in Start Up Loans funding. Greater Manchester has also been recognised as the most entrepreneurial place outside of London.
Among the recent female Start Up Loan recipients in the North West are Lauren Rowland and Hannah Muir (main picture), co-founders of pottery painting studio and bar Craft + Common, who secured £25,000 each in Start Up Loan funding to open their studio and purchase essential equipment (see panel for further details).
Other female founders in the region include Lisa Storey, founder of EZ Hampers, a sustainable gift company, and Dani Wallace, founder of I Am The Queen Bee, which provides resources and training for entrepreneurs looking to grow their businesses and improve public speaking.
The British Business Bank also supports female entrepreneurs through additional initiatives, including Lifted Ventures, which aims to increase early-stage capital for female founders in the UK.
Louise McCoy, managing director, Start Up Loans Products at British Business Bank, said: “The North West is full of entrepreneurial talent so I’m proud that we have provided over £50m worth of Start Up Loans to female entrepreneurs in the region.
“The British Business Bank is dedicated to supporting underrepresented groups and this milestone is just another example of the fantastic work the Start Up Loans programme is doing to make funding easier to access for women who want to set up or grow a business. Our funding is helping to create a thriving small business community in the North West and we look forward to providing even more support in 2025 and beyond.”
CRAFT + COMMON: A SUCCESS STORYCraft + Common, a North West-based pottery painting studio and bar, is among the businesses that have benefited from the Start Up Loans programme. Founded in 2023 by friends Lauren Rowland and Hannah Muir, the business secured £50,000 in funding with the help of its Business Support Partner, GC Business Finance (GCBF). The finance enabled the company to acquire its first studio in Lytham St Annes and purchase essential equipment. The business offers pottery painting and ‘paint and sip’ events in a social and relaxing environment. Following the success of its first studio, Craft + Common has since opened a second premises in Lymm, with plans for further expansion. Lauren Rowland, co-founder of Craft + Common, said: “We never could have imagined how our little idea would have come to life, and we have achieved so much success in just two years. We’re very grateful for the support we have received from our local community and beyond. “The Start Up Loan funding from GCBF supported us in getting started and we wouldn’t be where we are now without it. We have opened a second studio in Lymm which has received lots of support from the local community and we’re excited to see what is next for us.” |
