Time to give female entrepreneurs the backing they deserve - Clair-Challenor Chadwick

I recently attended an investment readiness programme in Northallerton, hosted by Lifted Ventures led by Jordan Dargue, and funded by the North Yorkshire Growth Hub.

Organisations like Lifted Ventures are crucial in creating an ecosystem of business angels, venture capitalists, and other funders, for entrepreneurial women in the North.

The Women’s Growth Task Force report highlights that closing the gender gap in high-growth businesses could add an extra £250bn to the UK economy and that women entrepreneurs can play a key role in the UK's ambition to become a tech superpower.

Barriers for women in starting and scaling high-growth enterprises include funding disparities and lack of representation, plus limited access to venture capital.

It is a sad fact that women remain underrepresented and the barriers are very real.

Women are pulled in all directions. Caring responsibilities are often shouldered by women, including looking after elderly parents and young children.

Misogyny and ageism are rife. I was once told by an accountant that I had until I was 50 to make money in business as my marketability would wane in middle age. I am now middle-aged and feel that being a woman in business is more difficult than ever, if it was not hard enough in the first place.

I am proud to have founded my public relations firm, Cause UK, 15 years ago, with my sister Ann. It hasn’t been easy. No business is, but the systematic and casual sexism and discrimination makes it harder.

We attract continuous five-star reviews, are mission-driven, and deliver award-winning results for UK and global clients, but there is a nagging feeling we are still slightly patronised; we were once told by a business bank manager, why not stick to a ‘kitchen table’ business when we asked for advice about how to grow Cause UK.

Yet, for all the misogyny I’ve experienced, there are also hugely supportive male friends, clients, business advisers, and colleagues who have helped make our business succeed. But I still feel there is more to do to redress this imbalance.

It is up to all of us in the business community to reshape the narrative and ensure women founders have the visibility and support needed to drive change and rebalance the staggering statistic that 75 per cent of high-growth enterprises are founded entirely by men.

At Cause UK, we have survived recessions and a pandemic, and the ever-changing business landscape thanks to our tenacity, talent, and zeal.

Yet I am conscious that my womanhood, my single mum status, and now, grey hair, put me firmly in the path of being ‘invisible’ when it comes to potential investors, whereas men in the same age category are often given status, revered as wise, mature and experienced. And yet, research shows female leaders drive workplace innovation.

We need to champion more female pioneers and business leaders.

Clair-Challenor Chadwick is managing director of Cause UK.