NewsGovernment launches risk capital fund aimed at women-led businesses The Government has today launched The Aspire Fund - an investment fund designed to encourage female entrepreneurs to seek appropriate risk capital finance. The Government has committed up to £12.5m of public funds to be matched by a further £12.5 million from private sector investment. The fund first announced in the Enterprise Strategy in March 08 will seek to improve the link between those providing funding and those offering investment readiness support. Businesses interested in accessing the fund will be directed to their local Business Link. The Aspire Fund, managed by Capital For Enterprise Limited (CfEL) will focus investment where there is greater risk that the investment would not otherwise be made. Click for further details. Female leadership behaviour directly linked to enhanced company performance Certain leadership behaviours, more frequently applied by women than by men in management teams have been shown to enhance company performance according to a new report from McKinsey & Co. Nine leadership behaviours have been shown to positively affect organisational performance. Of the nine indicators women applied five more frequently than men. Furthermore the study shows that of four behaviours that will be critical to responding to business challenges in the future, three are more often demonstrated by women leaders. These are: 'Inspiration', 'Participative decision making' and 'Expectations and rewards'. In order to retain and utilise the best talent McKinsey call on companies to ensure their recruitment, appraisal and career management systems are gender-neutral and for companies to allow for career flexibility - not just for one day, week or a year, but throughout a career. Furthermore they stress that a flexibility programme shouldn't be a 'women-only policy' but an integral part of a company's overall talent development model. To obtain an electronic copy of 'Women Matter 2' contact: Valerie_Martin-Cocher@mckinsey.com International Women's Enterprise experts join Prowess UK study tour Participants from 10 countries took part in the Prowess UK Women's Enterprise Study Tour, a fantastic cross-cultural sharing and learning experience. Leading women's enterprise policy and practice experts from countries including Turkey, Zambia, USA, Canada, Denmark, Sweden and France took part in the week long programme of activity which included visits to women's enterprise support centres in London and the South East, a high level access to finance and markets discussion, facilitated policy roundtable discussions at BERR and a networking reception at the House of Commons. The week culminated with a drinks reception at No.11 Downing St to launch the Prowess National Policy Centre (PNPC). Business Support Simplification - latest from BERR The government have launched 'Solutions for Business - funded by government', which outlines their latest thinking on the delivery of business support under the new streamlined system. A total of 30 advice, loan and grant products will be available to businesses and in place by March 09. The principle behind the Business Support Simplification Programme (BSSP) is that Business Link will operate the IDB model (Information, Diagnostic & Brokerage) and that they’ll put the provision of support out to tender. The effectiveness of BSSP will be dependent on the right delivery being in place. Local business support providers are advised to ensure they are in touch with their local business link and RDA and that they are on their databases to hear about any tender opportunities. http://www.berr.gov.uk/files/file48471.pdf Get your facts right on Women's Enterprise Day Did you know: Women who have had enterprise training are twice as likely to be engaged in entrepreneurial activity or that companies run by women directors pay their invoices on average 49% quicker than those with just men on the board? At Prowess we think everyone involved in the drive to support more women to start and grow successful and sustainable enterprises should know these facts. That’s why to celebrate Women’s Enterprise Day 2008 – Wednesday 19th November 2008 - we are launching our new booklet ‘Key Facts about Women-owned Businesses'. The facts outline not just the strengths of women-owned businesses but also where more support and collaboration is needed if we are to see the much needed increase in female entrepreneurship. Prowess members will have recieved their supply of booklets in the post. Members and Non-members interested in receiving copies to give to stakeholders and clients and to use yourself as a resource for funding bids, marketing materials and presentations should contact admin@prowess.org.uk for details of ordering. Government takes action on women's representation in Parliament Prime Minister Gordon Brown has called on the Speaker of the House of Commons to establish a new committee known as a ' Speaker's Conference' to consider how to make the House of Commons more representative of women, ethnic minorities and disabled people. A Speaker's Conference is a rare but potentially very influential event. There have only been five Speaker's Conferences in the last Century, most notably heralding the vote for women in 1918. http://www.parliament.uk/about/how/principal/speaker/speakers_conference.cfm Irish Government gives €9m to support women's enterprise in development countries Irish Aid, the Government's overseas aid programme, is providing €9m between 2008-2011 to promote women's entrepreneurship in developing countries and to secure employment opportunities through enterprise. The contribution is part of a new partnership agreement signed with the International Labour Organisation (ILO). The programme will also draw on the expertise of the Irish Congress of Trade Unions and the Irish Business and Employers Confederation. For further details see: http://foreignaffairs.gov.ie/home/index.aspx?id=75432 Silver lining in recession for women The current economic climate presents an 'unprecedented window of opportunity to improve gender balance at the top' according to an expert quoted in a recent FT article. The article focussed on the results of a recent gender diversity study from consultancy group Bain & Co which stressed that the recession could provide opportunities for the promotion of women as companies subject to hiring freezes look to the available internal talent pool. Meanwhile The Telegraph has reported that 'The Future is Female' releasing new stats that show women now provide half of recruits for once traditionally male industries such as law and medicine. The article quotes Dr Mark Batey of Manchester Business School as saying "Employers realise that women are more suited to the modern workplace, where the emphasis is on the qualities of team-work, leadership skills, communications, emotional intelligence in which they excel”. View articles at: http://us.ft.com/ftgateway/superpage.ft?news_id=fto101520081930176598 and http://www.telegraph.co.uk/news/uknews/3179265/The-future-is-female-job-figures-show.html Women's low pay behind child poverty As figures show the gender pay gap is widening, with men earning up to £100 a week more in some parts of the country, the TUC has warned that women's low pay has huge implications for children's living standards. The TUC says many mothers are trapped in part-time, low-paid jobs and that more than 75% of part-time workers are female. According to Brendad Barber, TUC general secretary 'As 40% of households are now headed by single mothers, this has concerning implications for tackling child poverty'. http://www.endchildpoverty.org.uk/ Women labelled 'Marketing Multipliers' Female customers have an exponential influence on purchase decisions according to a new study of over 3,000 women carried out by the US consumer research company Yankelovich. The study highlights 'affluent' women - those with a household income of over $100,000 - as being critical to word-of-mouth marketing. These women are found to have up to five times as many conversations about a range of products including electronics and travel. The report suggests that in times of tight marketing budgets, focusing on women consumers promotes a better return on investment. For further information visit: http://phx.corporate-ir.net/phoenix.zhtml?c=105317&p=irol-pressArticle&ID=1214001&highlight= Gender neutral imagery critical to recruitment Women are less likely to think they are suitable for a leadership position when the recruitment advert features an image of a man, according to a new German study of male and female management students. The report suggests companies wanting to recruit the most talented candidates use equal gender representation in their recruitment materials. Interestingly all participants, male and female judged themselves to be most suitable for a role if images of men and women were used in the advertisement. http://communications.london.edu/go.asp?/bLBS001/mOLVCKB/uXE47231/xUAQLKB#News4 Cameron hires all female PR firm to target female voters David Cameron has stepped up his efforts to capture the crucial support of women by hiring an all female PR firm. The Conservatives believe it is vital to woo back 'Worcester Woman' the archetypal Middle England voter who supposedly gave Blair three election victories. The party feels the female vote will become increasingly important as recession bites with women more likely to be responsible for managing household budgets. http://www.mailonsunday.co.uk/news/article-1078802/David-Cameron-hires-female-PR-firm-help-tune-women-voters.html |
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Prowess Members' NewsCelebrate Women's Enterprise Day 2008 - Wednesday 19th November Women's Enterprise Day, coordinated by Enterprise Insight is about celebrating successful female entrepreneurs, and inspiring more women and girls to turn their ideas into reality. For details of all events taking place on Women's Enterprise Day and throughout Enterprise Week visit: http://www.enterpriseweek.org.uk/events Business Link London reports sharp rise in female customers Business Link London has revealed that it supported 49% more women-owned businesses in 2007-08 than in the previous year. Fran Currie, Director of Operations at BL London attributes the success to 'proactively going out and engaging with women, holding events of all types and visiting thousands of women-owned businesses'. Currie also suggests that running your own business is increasingly the 'only sure-fire way for women to break through the glass ceiling' and whilst the economic climate is difficult she says "all the research we've done to assess the confidence of women-owned businesses points to one thing; the future remains bright". http://www.smeweb.com/management/features/women-leading-the-sme-community-110812.html How to be a brilliant community based business adviser A new professional development resource has been launched for advisers supporting entrepreneurs from under-represented communities. The guide is the result of collaboration between ACBBA, community based business advisers and SFEDI. It includes case studies, analytical tools and checklists. To purchase a copy contact info@acbba.org.uk or visit www.acbba.org.uk New women's enterprise organisation for Yorkshire Yorkshire Women Entrepreneurs launched this month to support women thinking about or running a business in Yorkshire. The organisation pools the expertise of three women's enterprise programmes: Prowess Flagship holder - South Yorkshire Female Entrepreneurs Network (SYFEN), Prowess Flagship holder - Durban Ltd and Women in Enterprise, North Yorks Network. The organisation will hold a range of events and will develop a member's directory and 'talking point' for women entrepreneurs in the region to share experience and advice. http://www.yorkshire.women-entrepreneurs.co.uk/ RDAs embed women's enterprise focus with new action plans The South East Women’s Enterprise Steering Group has been working to refresh SEEDA's Women’s Enterprise Strategy, to review achievements and identify areas for future activity. This important review document is the foundation upon which their activities are based and provides a national context as well as a South East focus. http://www.womensenterprisesoutheast.co.uk/downloads The Northwest Development Agency (NWDA) has recently launched the 'Northwest Women's Enterprise Action Plan 2008'. The plan highlights that there are more than 160,000 women in the Northwest who have thought about starting a business, but have yet to do anything about. The plan aims to harness the potential of this latent talent. Download the new Action Plan at: ttp://www.nwda.co.uk/areas-of-work/business/enterprise/womens-enterprise/nw-womens-enterprise-forum.aspx £8m for gender equality group Chwarae Teg The leading gender equality organisation in Wales has been awarded £8.2m of European money for its Agile Nation programme which aims to help women achieve their full potential by promoting gender equality in employment. The programme will help 2,800 women in West Wales and the Valleys through training and mentoring and will provide training to 600 employers on equality and diversity issues. http://www.chwaraeteg.com/ Enterprising Women celebrate inaugural awards ceremony The Enterprising Women conference will take place on 21 November in Cambridge, aimed at business women across the country. Delegates will hear a keynote speech from Karen Darby, founder of Simply Switch. Following the conference there will be a champagne reception to celebrate the achievements of the East of England's top Enterprising Women. http://www.enterprising-women.org/static/conference-2008/index.html |
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Opportunities for your clients Information for members to use in their own client newsletters and websites. This section is restricted to Prowess Members. For details of membership visit: |
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Social Enterprise NewsLandmark social investment fund launches with £4.25m An 'equity-like' fund run by venture capital firm Bridges Ventures, will help to grow up to ten social enterprises and also provide an example of how equity-like investment can work for social enterprises. The fund will be looking for ambitious social enterprises that already have the potential to be financially sustainable. The fund is designed to be an 'evergreen' fund with profits from successful social enterprises re-invested to fund social enterprises of the future. Social enterprises looking for growth capital and investors interested in supporting the fund should contact: antony@bridgesventures.com Social enterprise and the economic upheaval - SEC call for your views The Social Enterprise Coalition is calling for social enterprises to complete their short online survey on your experience of the economic crisis and future plans. Survey responses will be used to help SEC make the case for social enterprise to government, banks and others. http://www.surveymonkey.com/s.aspx?sm=8yHdrm0KEsEz5LOqYbrGWg_3d_3d Minister announces £2.5m third sector skills initiative A new £2.5m third sector skills body aimed at improving the capacity of staff and volunteers has been announced. Ministers said the initiative would provide thousands of new learning and development opportunities for people at charities, social enterprises and voluntary organisations. The Office of the Third Sector and the Department for Innovation, Universities and Skills will jointly fund the new body over the next three years. To help the new initiative become established, sector skills council Skills for Justice will act as an incubator. http://www.newstartmag.co.uk/news/article/minister-announces-25m-third-sector-skills-initiative OTS launch Social Enterprise Action Plan - 2 years on The Office of the Third Sector have launched a review document two years on from the launch of the Social Enterprise Action Plan. It outlines how the framework has driven action across government. To order hard copies call the distribution centre on 0845 015 0010 and quote "URN 08/Z3 Social Enterprise Action Plan - 2years on". You can order as many copies as you want free of charge. |
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EventsRisk and Reward, 6th Prowess Annual International Conference Blackpool. Costs from £250 (early bird members rate) Join us...For the 6th Prowess Annual International Conference, the most informative, relevant and FUN event in the women's enterprise support calendar. This year we are focusing on 'Risk and Reward' to ensure female entrepreneurs are given the right support to come through turbulent economic times and excel on the enterprise journey. Book before 9 January to claim your early bird discount. For all the information you need to book your place and join other leading players - men and women - in business support policy and practice visit: http://www.prowess.org.uk/conference/ The rest of this section is restricted to Prowess Members. For details of membership visit: http://www.prowess.org.uk/about/apply.htm
For details of events aimed at women entrepreneurs taking place in your area click on the map below, members remember you can add your events to the Prowess online clickable map quickly and easily at no cost:
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VacanciesWomen's Enterprise Coordinator, Make Your Mark Are you ready to make an impact? Make your Mark are looking for a new team member to join their women’s team to contribute to the planning and execution of a successful women’s enterprise campaign. You will help to inspire women to make their ideas happen by managing the engagement of inspirational female role models with the campaign and assist in the mainstreaming of Women’s enterprise throughout Make Your Mark and key partner activities. You need to have a good eye for detail, be great at building and managing relationships and have a passion for completing and finishing tasks. Closing date: 8 December 2008. For details visit: http://www.makeyourmark.org.uk/about_us/careers_at_make_your_mark |
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New MembersNew members of Prowess include: Bradford Kickstart www.bradfordkickstart.com Coventry and Warwickshire Chamber of Commerce www.cw-chamber.co.uk Join Prowess and become part of the UK alliance helping women to start and grow businesses: Click here for details of Prowess membership |
Prowess – The UK association of organisations and individuals who support women to start and grow businesses.Please send comments and news or information sources to a.kent@prowess.org.uk by the 28th of the month. If this newsletter has been forwarded to you and you would like to be kept informed about Prowess please e-mail your contact details to a.kent@prowess.org.uk .Let us know too if you want to be taken off the mailing list at any time. This newsletter is produced for information only. While we believe the content is accurate we can accept no responsibility for any errors or omissions. Prowess is happy for recipients to forward and redistribute items in this Ezine, however we ask that Prowess is credited as the source and that where appropriate there is a link to our website. © Prowess Ltd 2008. Lion House, 20-28 Muspole Street, Norwich NR3 1DJ Tel 01603 762355 Fax 01603 227090 www.prowess.org.uk - the UK-wide gateway to local women friendly business support |
