NewsEU eases state aid rules for female entrepreneurs For the first time new businesses started by female entrepreneurs can receive up to €1m in state aid without having to declare it or seek approval from the EU. Under the new rules projects which support female entrepreneurs will not need to report to the commission - which usually reviews state aid to ensure it does not distort markets. According to Neelie Kroes, EU Competition Commissioner, "Serious market failure that prevents female entrepreneurs accessing finance in many cases, counters any suggestion that the new exemption could fall foul of discrimination laws". Child care and parent care costs can also be included within the exempt categories for the first time. http://www.eubusiness.com/news-eu/1215434894.96 Strong growth ambitions of female-led SMEs revealed Female SME owners are 10% more likely to want to grow their business over the next three years, according to 'The Big Survey 2' carried out by Cambridge University and sponsored by BERR, the Big Four (banks) and several RDAs. The survey of 2,500 SME shows 47% per cent of female leaders said their objective was to grow their business moderately over the next three years compared with 37% of male leaders. Furthermore, 9% of female leaders said their aim was to grow the business substantially over the next three years compared with 8% of male owners. However the authors stress that the size, sector and age of a business will influence growth ambitions and as more female-led businesses are start-ups they would tend to grow faster. The report also reveals the innovative nature of female owned companies with women being more likely to have introduced a new product or service in the last year. Other findings include: women are twice as likely as men to have been discouraged from seeking finance (8% vs 4%), more likely to be have been rejected outright when seeking new finance (17% - women, 11% - men) and yet significantly less likely to have been unable to make a repayment on a loan in the last 12 months. Download ‘The Big Survey 2: Financing UK Small and Medium-sized Enterprises’ at: http://www.cbr.cam.ac.uk/research/policy-evaluation-unit/output13.htm Victory for single-group specialist support services Ealing Council has been charged with misinterpreting the race equality legislation by deciding that Southall Black Sisters (a charity which challenges domestic violence against Asian and African-Caribbean women) was in breach of the Race Relations Act because it 'excluded' white women. The presiding judge declared that Ealing Council had misinterpreted the cohesion agenda by assuming that 'single group' funding undermined cohesion when in face it promotes equality and thereby cohesion. Pragna Patel from Southall Black Sisters commented, "This victory is important for all grassroots specialist organisations that are faced with cuts in their funding on the spurious grounds of cohesion and equality". Following the verdict all local authorities are to be issued with guidance on complying with equalities legislation to prevent arguments being used to deny the need for specialist single group services. http://www.southallblacksisters.org.uk/ Women twice as likely to pass business to daughters Female entrepreneurs in the US are twice as likely as male entrepreneurs owners to pass their business to their daughter. The finding is included in the latest 'Key Facts about Women-owned businesses' leaflet launched by the US Center for Women's Business Research. The new research also shows a marked increase in women business owners satisfaction with banking relationships which has more than doubled since 2002 (35% vs. 82%). However access to finance still takes perseverance, with women who have obtained capital making an average of four attempts to secure a bank loan and 22 attempts to obtain equity capital. For more facts visit: http://www.nfwbo.org/facts/index.php Ireland sees significant increase in female entrepreneurship Direct policy intervention is being seen as a factor in the growth of female entrepreneurship in the Republic of Ireland. According to the latest GEM report for Ireland, female early stage entrepreneurial activity rose from 4.2% in 2006 to 5.9% in 2007. A policy spotlight on female entrepreneurship is said to have played a significant factor in the growth. County Enterprise Boards are reported to have been very active in this area and have for example seen membership of their enterprising women networks rise to almost 6,000, having doubled in just one year. The report calls for an additional policy focus now on high-growth female entrepreneurship Sixteen per cent of male-owned companies in Ireland expect to employ more than 20 people over the next five years compared with just 8% of women-owned firms. Download 'Entrepreneurship in Ireland in 2007' at: http://www.enterprise-ireland.com/NR/rdonlyres/1F63F20E-51B8-4D4F-98BB-CC25C883F171/0/GEMReport2007.pdf Sharp decline in number of childminders There has been an 11.5% drop in the number of registered childminders with 8,400 fewer registered this year than in 2004. The drop is being partially blamed on new government guidelines being introduced this month which require all childminders to comply with the 'Early Years Foundation Stage'. Childminders are complaining that the EYFS statutory framework binds them to the same regulation as nurseries without the resources to do the paperwork. EYFS requires childminders to record certain learning and development goals which have usually been communicated informally to parents. Access to affordable childcare is frequently cited as a major barrier to women in starting a business. http://news.bbc.co.uk/1/hi/education/7570035.stm 'One size fits all' business support interventions don't work says DEMOS Business support interventions that work in one location may 'fall flat' in another, according to the Think Tank DEMOS which argues that 'even in an age of globalisation, economies are often very rooted in their more immediate local area'. DEMOS has published a series of 25 essays on 'The Future Face of Enterprise' written by leading experts from enterprise and academia. http://www.demos.co.uk/files/Demos_FutureFaceEnterprise_web.pdf A glass ceiling reinforced by concrete The glass ceiling has been reinforced by concrete according to the Equality and Human Rights Commission in their latest 'Sex and Power report 2008'. The fact that it will take a further 73 years (up from 65) for there to be an equal number of female directors of FTSE 100 companies is described as a 'squandering of talent'. As the Commission reports a snail could crawl from Land's End to John O'Groats and back again in less time. Four hundred and thirty-six female directors are said to be 'missing' from British businesses'. The report also shows that just 46 of the 1,119 directorships in FTSE 100 companies are held by BAME individuals, just 8 of these are female. Download 'Sex and Power 2008' at: http://www.equalityhumanrights.com/Documents/EHRC/sexandpower08.pdf Just 3% of fast growth companies founded by women Analysis of the Fast Track 100 list, which ranks Britain's 100 fastest growing companies shows that just 3% were founded by women with 91% founded by men and 6% founded by mixed-teams. Fast growth is based on sales figures over the last three years. The analysis was carried out by the National Council for Graduate Entrepreneurship and also shows that 70% of the fast track companies were founded by graduates. http://www.ncge.com/othercontent/analysis/Top200.html Government consultation on extending flexible working The Government is consulting on the extension and amendment of the right to request flexible working. Under the new proposals parents with children under the age of 16 would have the right to request flexible working which their employers would have a statutory duty to consider. Currently only parents with children under the age of six have this right. The plans also propose increasing the information and guidance available to small businesses on how to deal with flexible working requests. The public consultation will be open until 18 November 2008. Download the consultation document at: http://www.berr.gov.uk/files/file47434.pdf |
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Prowess Members' NewsBusiness Link South East see 56% rise in women advised Business Link South East have reported a 56% rise in the number of women-led start-ups receiving advice. The organisation has also seen a large increase in the number of female-led established-businesses receiving advice up from 8% last year to 11.7% this year. Overall nearly 40% of businesses created following advice have been women-owned. However the organisation reports a drop in the number in pre-start female clients. Pre-starts were a key focus last year and the drop is being partially explained by these businesses now translating into start-ups. For further information contact Rosemary French at rosemary.french@businesslinksurrey.co.uk 50 places available on start-up programme for women 40+ Fifty fully funded places are available on the 'Enterprise on Track' course for women aged 40 +. The course starts in October and covers business planning, marketing, negotiation and other basic business knowledge topics. The course is run by the Centre for Micro Enterprise Unit at London Metropolitan University. For further details contact Katy Roberts or Jo Williamson on 020 7320 1573 or k.roberts@londonmet.ac.uk or joanne.williamson@londonmet.ac.uk New framework for CDFIs The Community Development Finance Association (CDFA) is consulting on a new performance framework for community development finance institutions. The umbrella body's new Change Matters framework will bring independent assessment of the financial strength of institutions, their governance and the community benefit they provide. http://www.cdfa.org.uk/newsitems/news3.htm One-stop web shop for women Entrepreneur Mazine Muzzlewhite has spent 18 months creating www.womenseverything.com a one-stop web site for everything women may need advice on from business start- up to property , careers and parenting. |
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Opportunities for your clients This section is a new member benefit designed for you to be able to promote all the latest opportunities and announcements to your clients via your own newsletters and websites. This regular section will include information on awards, funding, research and other opportunities of interest to your clients. This section is restricted to Prowess members. For information on how to join Prowess visit: http://www.prowess.org.uk/about/apply.htm |
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Social Enterprise NewsNew drive for social enterprise for BAME women The Government is championing social enterprise as a means to support women from BAME groups to become more economically independent and participate more fully in the workplace.The Cabinet Office has published a new report, 'Social Enterprise: Making it Work for Black, Asian and Minority Ethnic Women'. It covers a range of proposals including new signposting resources for advice and funding and looking at how women's centres and children's centres could be used to provide space for BAME women to create networks. On launching the report Phil Hope, Minister for the Third Sector said "BAME women can have a better understanding of the issues facing their communities than anyone else so supporting them in particular has great potential". Download the new report at: http://www.equalities.gov.uk/publications/407665_SOCIAL%20ENTERPRISE%20WEB.pdf Women as likely as men to manage social enterprises There are no significant differences between men and women in terms of social enterprise start-up activity or owner-manager activity according to a major new report 'Social Entrepreneurship in the UK'. The equal gender balance contrasts with mainstream enterprise where men are twice as likely to be entrepreneurs as women. However men in the youngest age group (18 - 24) are substantially more likely to be starting some form of social enterprise compared to women (5.6% compared to 3.1% respectively). Download 'Social Entrepreneurship in the UK' at: http://www.deltaeconomics.com/media/social2008fullreport.pdf Professional Development for Social Enterprise Advisors RISE are running a three day professional development course for social enterprise advisors. The course will cover planning and viability, legal structures and business planning and survival and growth. The Professional Development series is fully endorsed by SFEDI and covers all the essential knowledge needed to meet the social enterprise standards. The next course is taking place from the 23rd - 25th September. For further information and booking visit: http://www.rise-sw.co.uk/index.php?module=PostCalendar&func=view&viewtype=details&eid=239&Date=20080923 Calls for Social Enterprise Unit at BERR The Social Enterprise Coalition (SEC) is calling for a dedicated social enterprise unit within the Department of Business, Enterprise and Regulatory Reform (BERR). According to SEC Policy Officer Ceri Jones the missing unit at BERR is a 'major gap' and 'impediment'. The Social Enterprise Unit is currently part of the Office of the Third Sector within the Cabinet Office. According to social enterprise ambassador Liam Black "The SEC CEO is rubbing shoulders with the rest of the charity and voluntary sector instead of rubbing shoulders with captains of industry". The calls for a social enterprise unit were made in the latest edition of Social Enterprise Magazine www.socialenterprisemag.co.uk Launch of social enterprise loan fund The Social Enterprise Loan Fund (TSELF) has been launched to replace the Local Investment Fund, which generated over £2m of private sector investment and £7m of loan finance to over 150 community enterprises over the last 14 years. TSELF plans to build upon this success by doubling its loan portfolio over the next three years. www.tself.org.uk |
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EventsWEConnect – Get Connected 2008, 1st Annual Conference, 31st October 2008, central London. Costs from £200 + vat (Hosted by Merrill Lynch)
For further information and registration visit http://www.weconnect.org.uk/conference2008 The rest of this section is restricted to Prowess members. For information on how to join Prowess 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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VacanciesThis section is restricted to Prowess members. For information on how to join Prowess visit: http://www.prowess.org.uk/about/apply.htm |
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MembersNew members of Prowess include: WENTA www.wenta.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
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