UK Should Nurture Female Entrepreneurial Spirit

8.52.46am UTC (GMT +0000) Tue 20th Jan 2004

The UK is bursting with entrepreneurial spirit, according to a survey from the London School of Business and the Work Foundation.

But only half as many women as men are likely to start a business and some cite difficulty in securing finance as a major barrier.

Commenting on the findings, Malcolm Bruce, Member of Parliament for Gordon and Liberal Democrat Shadow DTI Secretary, said:

"The survey suggests that women find it more difficult to raise finance, yet are proven innovators when in business.

"Where a creative idea is combined with a good business plan, and has an identified customer base, finance should be made available to nurture the venture.

"Small businesses are the lifeblood of the UK economy.

"Until women have equality of opportunity in securing business funding, the economy will be denied the additional income from their entrepreneurial spirit."

Mr Bruce said that while there is still work to be done in the North East, the number of women starting businesses in the region was far above the national average, currently sitting between 40 and 42%.

The following people are examples of north east women have recently started there own businesses successfully and are willing to be contacted: Alison Smith of Actor Payrol, one of only three companies in Scotland able to comply with new inland revenue rules, (01224 860800), Penny McIntosh of Fit Nut, a global internet company (01975 641312).