200 business leaders and MPs across the UK have signed a letter orchestrated by The Telegraph newspaper which urges Government to increase female entrepreneurship initiatives in Britain.
Source Marketing Direct is delighted with the movement, and are hoping it snowballs into some form of concrete action by parliament. Managing Director of Source Marketing Direct, Hector Montalvo, addressed the matter on his personal Twitter account, claiming the entire situation to be ‘a long-standing stain on the country’s record as a hub for innovation’.
Aptly published on International Women’s Day on the 8th of March, the open letter features signatures from Samantha Cameron, Mary Portas, Alexa Chung and Karren Brady. The letter’s demands centre around the availability of funding for female founders.
“Of course it’s largely about rightfully ensuring women are given a level playing field with men, but the proposed initiatives would also help boost the UK economy at a time where we’re staring down a barrel of uncertainty in the form of Brexit,” stated Montalvo.
The letter posted on The Telegraph’s website explains how female entrepreneurs in Britain are being subjected to restricted capital in comparison with their male counterparts, receiving a derisory 9% portion of the British startup kitty. While this is deeply concerning for the small-business community, it is presumed there are complicated reasons for the disparity.
However, the figures clearly show a funding gap – one that Mr Montalvo believes needs to be addressed at the highest level in entrepreneurial circles and the British government.
“When you look at the numbers, it’s pretty embarrassing,” continued Hector Montalvo. “Imagine how many brilliant ideas and businesses are being suffocated due to this allocation oversight. Deloitte reckons that addressing the situation now could give us a £100 billion boost to the economy in 10 years, so that tells you everything you need to know.”
Source Marketing Direct, who celebrate their 10th anniversary in business this year, offer business development programmes to those interested in harnessing entrepreneurship in London. While at present there is an apparent funding gap for female entrepreneurs, Source Marketing Direct remain committed to helping women of all ages start their own business in the sales and marketing industry.