Start Up Loans help women entrepreneurs pursue their dreams!
With women making up a third of UK entrepreneurs, Start Up Loans are encouraging more women to access funding to start their business. Research shows that the pandemic has disproportionately affected women more than it has men as some of the hardest hit industries in the pandemic were where female led industries.
Although studies show that there is a growth in the number of women choosing to start businesses today, it’s definitely not an easy road. Business in Focus has supported many women to receive funding and start their dream businesses. Laura Mallows, founder of Mallows Beauty, a skincare brand focused on self-care and mental well-being, got in touch with Business in Focus to apply for a Start Up Loan. Steve Hammond, our Start Up Loans Business Advisor supported Laura with her application. After carefully reviewing and discussing the plan with Laura, Steve advised her on the changes needed to ensure she was successful in obtaining the funds need to launch her dream business.
She said, “Steve was amazing. He was there 24/7 and his support was invaluable. He was very complimentary about my business plan, which helped build my confidence on my start up journey”.
Seeing other women succeed in their journey to secure finance for their business is a huge motivating factor for other women, encouraging them to follow their passions and start their independent ventures. We live in a time that is seeing a rise in women taking the initial plunge to follow their dreams and we are proud to be able to support more women entrepreneurs.
Start Up Loans provide entrepreneurs with financial support ranging from £500 to £25,000. One of the biggest advantages of applying for a Start Up Loan is a low interest rate fixed at 6.19% APR with repayment terms of up to 5 years.
Business in Focus is an Official Delivery Partner of the Start Up Loans scheme and anyone applying for a Start Up Loan through Business in Focus has access to exclusive business offers and support from expert Business Advisors.
Start Up Loans is a government-backed scheme, administered by the British Business Bank that provides low interest, repayable loans. They are available for people looking to start a business or for businesses in Wales under three years old, that need financial support in order to develop and cover operational costs. Unlike a business loan, this is an unsecured personal loan only available to individuals over the age of 18. Start Up Loans provide a chance for women to access funding and give them the confidence to pursue their business idea.