Closing the Gap

With women-led businesses poised to unlock £250bn in economic value, HSBC UK’s Women’s Business Growth Initiative is breaking down barriers – from financial confidence to funding access – while building a stronger ecosystem for growth. Despite employing over 2.7m people, women still own just 19% of UK businesses, highlighting a major untapped opportunity. I caught up with Stephanie Betant, Head of Global Trade Solutions at HSBC UK, to find out more…

What impact does the initiative hope to achieve?
Women-led businesses are essential to the UK economy, contributing an average of £11.2m a year. With the right support, women-led businesses have the potential to boost the UK economy further unlocking up to £250bn in economic value according to the UK Government. They are a powerful driver of jobs, innovation and growth with women employing over 2.7m people in the SME space alone, yet only 19% of UK businesses are owned by women. Through the HSBC UK Women’s Business Growth Initiative, we want to help close that gap. Making it easier for women to start, fund and grow their businesses. For women business owners, we offer personalised funding support alongside a community of like-minded business founders that provides access to free events, networking and masterclasses. We’ve already seen strong momentum, with over 1,200 women signing up since launch in September 2024.

What are the biggest challenges women entrepreneurs face today, and how is HSBC UK addressing them?
Two challenges stood out in our research – the first is financial confidence and skills. Our research revealed that more than half (53%) of women entrepreneurs say financial knowledge is essential, yet less than 10 percent (8%) feel highly skilled. We’re tackling this knowledge gap by offering events and masterclasses designed to build their financial confidence, skills and support better decision-making. The second is knowledge of how to access funding. It’s encouraging to see access to finance is improving, with only 11% finding it a challenge in Q1 2026 compared to 25% in 2025, but knowledge barriers still exist, with some women still relying on higher-cost options such as credit cards (13%).  Through the initiative, we provide personalised funding support with a Business Specialist for funding up to £100k, or a Relationship Manager for funding over £100k (lending subject to status), alongside connections that help women find the right support at the right time.

What advice would you give to women looking to scale their businesses in today’s global market?
Focus on understanding your finances, including cash coming in and going out, where you make profit, and where you need to invest to grow. Know what types of funding options are available, so you can choose what best fits your growth plans for your business. If numbers aren’t your strength, seek support early and keep learning. It also helps to build a strong network, because learning from other founders can save time and avoid costly mistakes.  At HSBC UK, our global presence means we’re uniquely placed to support businesses, using our experience and expertise to offer informed insights and connect these women to a broad network of support.

How do you see women in business evolving over the next five years, and what role can financial institutions play?
I expect more women to start and grow businesses, but progress depends on sustained support, particularly around financial education and access to funding.  Last year, the ONS revealed that a record number of 1.8m women now run businesses across the country, with women over 50 accounting for the fastest growing group of entrepreneurs. That’s why a commitment like the Women in Business Growth Initiative is so helpful. It signals HSBC UK’s real intent to improve access to finance and support for women-led businesses, and tackle a long-standing imbalance where women are less likely to secure loans, grants or investment. At HSBC UK, we aim to make a difference by combining practical learning, tailored guidance and fair access to finance, so more women can grow with confidence and contribute to the wider economy.

Can you share a success story from the initiative that particularly stands out to you?
The feedback and testimonials have been great, and as a result we are seeing more women join the initiative. I’m proud to say that in March alone, we engaged with over 700 business owners, and as of April last year we have completed £90m in lending. For me, that’s a powerful reminder of why the Women’s Business Growth Initiative matters, so women can get the right support. It’s designed to help women founders navigate those moments with stronger support around funding and growth – through access to events, networking, masterclasses and personalised funding support – so great businesses aren’t held back simply because the decision-makers don’t immediately relate to the customer they’re built for.