Have you got a burning business idea that needs some help to make it real? Or a side-project that you would love to make your full-time project? Then crowdfunding may just be the support you need to help you take that leap.
The recent Rose Review, commissioned by The Treasury exposed the fact that only 5.6 per cent of women run their own business. Further data shows that women are half as likely as men to start a business: despite the many benefits that self-employment offers, such as flexible working and being able to self-manage their business culture.
What’s holding women back?
In the UK starting a small business is easier than it has ever been. Small businesses now provide almost half of all private-sector job opportunities and have helped drive the UKs employment rates to record highs.
However, Rose’s review concluded that “access to funding, risk aversion, primary care responsibilities and perception of skills are among the barriers female entrepreneurs need to overcome.”
Add to that ‘mansplaining’, ‘hepeating’ and lack of self-belief and the barriers become clear!
At Crowdfunder we have learnt over the last 6 years that…
Women make great crowdfunders!
In the last 12 months (up to June 2019) 52% of successful Crowdfunder project owners were female. Take into account the bias we see in business where men outweigh women as entrepreneurs by 66%, we can safely say that women make great crowdfunders. Why?
- Female-led campaigns tend to pitch for less money, placing more emphasis on work-life balance and reaching a realistic target that will sustain them holistically.
- Women are more collaborative and happier to ask for help. The Brain Magazine debated an analysis of the flight vs flight response, concluding that women have a third response, the ‘seek assistance response’, which stems from evolution and women’s need to protect their offspring. Gathering strength in numbers was often their safest protection. Research also shows that women are much more effective in their social relationships.
- Women learn more efficiently from other successful projects. They put their egos to one side, gather information, listen and learn from others, adopting the tools they need to bring their idea to life. They value and utilise the community support that crowdfunding offers.
- Crowdfunder doesn’t choose what the projects are that people want to fundraise for, the crowd decides by backing the idea. Gender biases are massively reduced. The crowd is in effect ‘the client’.
Back Her Business
This is why we launched Back Her Business. The first-ever female-focused crowdfunding platform. Successfully crowdfunded projects could receive 50% of their fundraising target (max £5,000) in grants from NatWest, Royal Bank and Ulster Bank (regionally dependent). Our aim is to bring thousands of female-focused businesses to life in the UK. Back Her Business also, most importantly, offers events, mentoring and coaching support to break down that gender gap and help women realise their dreams.
Author and speaker Brene Brown summarises it succinctly. “We don’t have to do all of it alone. We were never meant to.”
Make a small step, get a giant landing.
Find out how Back her Business can help you https://www.crowdfunder.co.uk/back-her-business
Rob Love, CEO and Founder crowdfunder.co.uk