Finance News: Women in business targets missed as funding crisis grips

Women's enterprise organisations are facing a financial crisis and will not achieve Government targets unless firmer funding streams are established to encourage more women into business, according to social enterprise network Prowess.

A report by Prowess reveals that the 2003 Strategic Framework for Women's Enterprise, the Government scheme launched to boost the number of women in business, is not being backed by secure funding schemes.

The report showed that the Business Link network, which supports local enterprise organisations, is the only securely funded form of business support in the UK, but 80 per cent of its customers are men.

"Business start-ups, or self-employment, are acknowledged as key to productive growth, but the gap between male and female entrepreneurship is both persistent and one of the widest in the world," said Erika Watson, executive director at Prowess.

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