Press release: Investing in Women Code closing the finance gap
By alexandreFinance
Press release: Investing in Women Code closing the finance gap
The Investing in Women Code is a new initiative aimed at closing the gender finance gap. The UK Treasury is leading the project, which has already been signed by some of the UK’s biggest banks and financial institutions. The aim is to increase investment in female entrepreneurs and prompt better representation of women in senior financial roles. By supporting women in finance, the hope is that the UK economy will grow and become more diverse.
The Investing in Women Code has been welcomed by campaigners for gender equality and financial inclusivity. By investing in female entrepreneurs and creating a more equal financial industry, the UK stands to benefit in the long term.
Partnering with Banks
The UK Treasury has partnered with some of the country’s largest banks to launch the Investing in Women Code. Leading firms including Barclays, HSBC and Lloyds Bank are amongst those who have already signed up to the initiative. The partnership aims to drive change across the financial sector and promote better representation of women in senior roles.
The move comes after research revealed that just 10% of fund managers were women in 2017. There is also a significant funding gap between male and female entrepreneurs, with women-led businesses receiving just 2% of venture capital funding. By encouraging banks to invest in female-led enterprises, the government hopes to create a more equal and diversified market.
Under the Investing in Women Code, signatories commit to various pledges, such as setting internal targets for gender diversity and supporting female entrepreneurs through access to investment and commercial opportunities. In return, banks will receive guidance and advice on how to increase gender parity within their organisations.
Promoting Investment in Female Entrepreneurs
The Investing in Women Code aims to encourage investment in female entrepreneurs and provide support to bring their businesses to the forefront. Despite making up 30% of entrepreneurs in the UK, women receive just 9% of equity investment. The initiative will support women-led enterprises through funding opportunities and commercial partnerships, as well as promoting better representation of women in decision-making roles.
Through increased investment in female entrepreneurship, the UK economy stands to benefit significantly. A recent study by the Boston Consulting Group estimated that if women were able to start and scale businesses at the same rate as men, they could add £250 billion to the UK’s economy. Investment in female entrepreneurs is therefore essential for growth and diversification.
The Investing in Women Code will also help break down traditional barriers that have prevented women from accessing finance. By creating a more inclusive financial industry, more women will be able to access the support and funding needed to bring their business ideas to fruition.
Closing the Gender Finance Gap
The gender finance gap remains a significant issue within the financial industry. Women are consistently underrepresented in senior roles and receive less funding than their male counterparts. The Investing in Women Code aims to tackle this issue head on by providing support and guidance to banks and institutions on how to close the gender finance gap.
It is hoped that the initiative will promote better representation of women within the financial industry and drive change across the sector. Addressing the gender finance gap will ensure that women have equal access to opportunities and can contribute fully to the UK economy.
In conclusion, the Investing in Women Code is an important initiative aimed at closing the gender finance gap and promoting better representation of women in senior roles. By recognising the importance of investing in female-led businesses, the UK stands to benefit economically and socially. It is a step towards creating a more diverse and inclusive financial industry, which will support the growth of both women and the wider economy.
