By Jack Mendel
A record 150,000 new firms were founded by women last year, according to a major review by Natwest chief executive Dame Alison Rose.
New figures outlined in the Rose Review Progress Report for 2022 show female entrepreneurs started twice as many companies last year as they did in 2018, despite the challenging economic environment.
There was also an increase in the number of all-female led businesses, up 16 per cent on the previous year.
“It’s a testament to the resilience and entrepreneurialism of female founders that they are creating more companies than ever before,” Alison Rose said.
The review aims to highlight the importance of giving female entrepreneurs access to financing, the number of financial services firms signed up to the Investing Women’s Code jumped to 190, up from 134 the previous year.
Investment company M&G, lender Funding Circle and tech venture capital firm IQ Capital are among those to sign up to the code, which requires them to adopt practices that support women business leaders.
Looking ahead, the review laid down an ambitious target to double the number of female angel investors, through the Women Angel Investment Taskforce.
“In the coming year we will continue to provide fresh initiatives offering mentorship, guidance and inspiration for founders, alongside securing new commitments from financial services institutions to make it easier for female-led companies to access vital capital,” Rose said.
“By listening closely to entrepreneurs and acting on what they tell us, we will provide backing to help them grow their networks, secure finance and achieve their goals,” she added.
The news comes after the government appointed Rose to spearhead its new energy efficiency task-force.
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