Facebook launches initiative to help women start businesses

Facebook has launched an entrepreneurship initiative for women after research showed that more female businesswomen would help to boost the UK’s economy by £10.01 billion.

The social networking website has launched SheMeansBusiness to help more women set up their own company.

Barriers

The initiative comes after research highlighted barriers that prevent women from starting up their own business, with a lack of self-belief being the main reason.

Three quarters of survey respondents said that they had not started their own business as a result of not having a female role model who is running a business similar to the type of company they wish to set up.

The research also showed what type of help and support would enable more women to set up their own business, with 52 per cent saying that financial advice and support would help. Over 40 per cent said that skills workshops would enable them to start up their own business, whilst 39 per cent said they wanted more advice on how to get new customers.

Effective

According to Facebook Vice President for Europe, the Middle East and Africa Nicola Mendelsohn, women make “effective business leaders” and “unbelievable entrepreneurs.”

She stated that it is “shocking” that more women are not part of today’s small business community in the UK.

If successful, Facebook’s initiative is estimated to create 340,000 new businesses and over 425,000 jobs by 2020 by getting more women to set up their own business.