The Women's Business Networking meeting on 18 June 2024 focused on several key issues, including the launch of a new mentorship programme, discussions on local business challenges, and the introduction of a new funding initiative for female entrepreneurs. Decisions were made to implement the mentorship programme and to allocate funds for the new initiative.

Mentorship Programme Launch

The council announced the launch of a new mentorship programme aimed at supporting female entrepreneurs in West Northamptonshire. The programme will pair experienced businesswomen with newcomers to provide guidance and support. The decision to implement this programme was unanimous, with strong arguments highlighting the benefits of mentorship in fostering business growth and confidence among women. One councillor noted, Mentorship can bridge the gap between potential and success, offering invaluable insights and support ¹.

Local Business Challenges

The meeting also addressed the challenges faced by local businesses, particularly those owned by women. Issues such as access to funding, networking opportunities, and balancing work-life commitments were discussed. Several business owners, including Jane Smith of Smith's Bakery, shared their experiences. Smith highlighted the difficulty in securing loans, stating, Banks often view small, female-owned businesses as high-risk, which limits our growth potential.

Funding Initiative for Female Entrepreneurs

A new funding initiative was introduced to support female entrepreneurs in the region. The initiative will provide grants and low-interest loans to women starting or expanding their businesses. The council decided to allocate £500,000 to this initiative, with the aim of reducing financial barriers for women. The decision was met with enthusiasm, as it aligns with the council's manifesto pledge to promote gender equality in business.

Networking Opportunities

The importance of networking was underscored throughout the meeting. The council plans to organise quarterly networking events to facilitate connections among female business owners. These events will include workshops, guest speakers, and opportunities for collaboration. The first event is scheduled for September 2024.

For more details, you can refer to the Agenda frontsheet 18th-Jun-2024 12.00 Womens Business Networking and the Public reports pack 18th-Jun-2024 12.00 Womens Business Networking.