Member News 23rd August 2019
Royal Bank of Scotland is launching Scotland’s first women-only crowdfunding programme, as part of its efforts aims to encourage female entrepreneurship.
It seeks to reduce the gender gap when it comes to start-ups by giving women across the UK the opportunity to test and validate their business ideas.
“Back Her Business” will offer financial support as well as bespoke training, coaching, networking and local events through the bank’s Entrepreneur Accelerator and its Women in Business proposition.
Royal Bank of Scotland will provide a top-up fund of £1 million per annum and offer up to 50 per cent of an individual’s fundraising target – capped at £5,000 – for certain projects.
Malcolm Buchanan, chair of Royal Bank of Scotland’s Scotland Board, said: “The Rose Review, and the bank’s Global Entrepreneurship Monitor and Enterprise Tracker all reveal a worrying trend amongst would-be female entrepreneurs.
“We were told that they felt there was a lack of appropriate finance, mentoring, role models, local support and tailored advice and with Back Her Business, we want to tackle this head on.
“I see women with drive, passion and courage to go it alone and start their own business. The time couldn’t be more apt for us to really mobilise this energy and make some meaningful changes.”
Samantha Swift, Business Growth Enabler at Royal Bank of Scotland, said:
“As our Women in Business Ambassador for Business Banking here, I work closely with many women who are thinking about starting or scaling a business. As a bank we work closely with many local support agencies including, Women’s Enterprise Scotland, Business Gateway and Elevator, to name a few, helping support women not only to get started but also continue their business journey. Providing support to all businesses throughout Scotland is a key priority for us.”
For more information, please visit rbsbackherbusiness.co.uk