Female entrepreneurs in the UK could be given help to grow their business, under new plans by Europe’s leading advocate of women-owned companies.
The first WeConnect Europe conference was held on October 7 at the UK’s HSBC headquarters in a bid to connect women-owned businesses with major corporations, including: IBM, Accenture and HSBC.
Speaking at the conference, Lorely Burt, Liberal Democrat MP for Solihull called for regulation to be cut for small businesses and for “the door to be pushed open for women in enterprise”.
She added: “My aspiration is to procure 25% of supply through small businesses as the majority of small businesses are run by women.”
Based on the successful US model, WEConnect Europe’s main objectives include: increasing the growth in women-owned businesses by boosting the diversity of their supply chains, encouraging women to trade internationally and considering what the government needs to do for small business.
According to the supply diversity panel discussion, the UK is at least 20 years behind the US initiative in terms of equality in supply and diversity in business.
Speaking on the panel, Denise Coley from Cisco Systems advised: “Make sure you know what the opportunities are, make connections and continue to persist. Also look at opportunities outside of the UK.
“We want supply change because this means more opportunity and brings economic vitality.”