The Back Her Business initiative has been designed to help more female entrepreneurs launch their own business. The UK-wide campaign is part of NatWest’s pledge to inspire 400,000 female-led business by 2025.
The initiative works by giving participants a crowdfunding platform to raise the money they need to launch a commercial enterprise, as well as free coaching, mentoring and opportunities to meet like-minded women.
The bank is providing a top-up fund of £1 million per annum and will be offering a grants to qualifying businesses. Applicants are required to set up a crowdfunding project with a minimum target of £1,000. Successful applicants will receive match funding of up to 50% towards their target, up to a maximum of £5,000.
This programme is open to UK-based, female-led start-up businesses and those with a new trading activity.
Cheryl Gourlay, NatWest National Women in Business Manager, said:
"Women start businesses with 53% less capital on average than men, are often less aware of funding options, and less likely to take on debt. We want to see that change because there is a wealth of untapped talent out there.
"Back Her Business provides an accessible funding platform as well as peer-to-peer support and mentoring."
Applications may be submitted at any time.
More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news and policy. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.