UK Chancellor Supports Fund for Women Entrepreneurs

Rachel Reeves, the first female Chancellor of the Exchequer, is leveraging her position to enhance opportunities for women in business. She has announced government support for the Invest in Women Taskforce, which aims to create a funding pool exceeding £250 million specifically for female entrepreneurs, addressing the stark disparity in private equity investments where only 1.8% went to female founders this year. Reeves emphasized the importance of closing the gender pay gap, strengthening workplace rights, and investing in childcare as part of her strategy to improve women's lives across the UK. The initiative follows findings that matching female entrepreneurship levels seen in other countries could contribute an additional £200 billion to the British economy. Entrepreneurs and co-chairs of the taskforce expressed optimism, highlighting the economic rationale behind increasing support for female-led businesses. Reeves stated her commitment to utilizing her role to foster equality and support women in achieving their ambitions.