UK Female Founders Reveal That Human Connection Matters Most In Business

The Rise Report, conducted by Female Founders Rise in collaboration with Barclays, emphasizes the significance of relationships in the entrepreneurial journey of women. According to the report, 78% of respondents identified human connections as crucial, with peer networks being the top source of support at 39%, followed by mentorship and coaching at 32%.

The absence of these networks can lead to personal costs, with 14% of founders citing loneliness and isolation as their primary challenges, and 27% experiencing mental health pressures such as burnout and self-doubt.

Financial access remains a significant challenge, with 45% of respondents identifying funding issues as their main obstacle. Public funding processes are perceived negatively by 78% due to bureaucracy and complexity, while 10% reported negative investor behaviors. Similarly, 73% express unfavorable views of private finance options like business loans and venture capital.

Research indicates that less than 2% of venture capital is allocated to all-female founded teams, despite evidence of better returns from female-led businesses. The UK could potentially unlock £310 billion in economic growth if women could start and scale businesses at the same rate as men.

The report suggests that policymakers, investors, and the business community should focus on providing practical support, access to networks, and fairer funding processes. It highlights the importance of supporting women entrepreneurs to enhance their confidence and business growth.

Data from the survey involved 2,225 UK-based female founders, collectively generating £1 billion in annual turnover, making it one of the most comprehensive studies of its kind.

Based on reporting by techround.co.uk.