Press Release
Bibby urges UK business community to support female entrepreneurs
With recent research to mark National Women’s Enterprise Day*, suggesting
that female entrepreneurs need to overcome a lack of confidence and
financial concerns when it comes to starting their own business, Bibby
Financial Services is urging women in business to face the ‘fear factor’
and reap the rewards owning your own business can bring.
“Unfortunately, many would-be entrepreneurs fail to get their ideas of the
ground. However, it seems that females need larger incentives to take the
plunge and ‘go it alone’ than their male counterparts, hindering the number
of women entering the business arena and putting their skills to the test.
And when it comes to supporting women in business, many industry leaders
concur the government is not doing enough to help encourage female’s keen
to start their own business,” said David Robertson, chief executive of
Bibby Financial Services.
In order to help budding female entrepreneurs get ahead in the business
arena, Bibby Financial Services has developed the following tips:
-
The Big Idea – start by exploring your dreams and
passions in life. If you start a business in an area you’re interested
in, you’re more likely to make a success of it.
-
Women’s intuition – make sure the demand for your
product or service exists before investing time and money in your new
venture. Once you know the market you’re entering, you are armed with
the vital knowledge you need to make informed business decisions
-
Get stuck in - running your own business involves hard
work and particularly in the early stages, may require burning the
candle at both ends to get off to a good start. Make sure you have the
full support of your partner and family, if you have additional
commitments such as childcare to factor in to the equation
-
Face up to finance – Explore all types of financing
available to you, there are many alternatives now available such as
invoice finance that provide a flexible, cost effective cash flow
solution, instead of relying on the traditional bank loan or overdraft
facility
-
Strut your stuff – networking is an excellent way to
meet like-minded businesswomen, customers and potential business
partners. To get started, check out your local Business Link and
advisory groups for networking events in your area
-
Nurture talent – build an enthusiastic team that share
both your vision and commitment to the business.
-
Create loyal customers – to gain a better
understanding of your customers and the issues they face, phone key
customers regularly and employ feedback mechanisms such as a customer
hotline or online feedback form
-
Go the extra mile – always strive to exceed your
customers’ expectations such as promising delivery within five working
days, but actually delivering in three. However, a word of caution,
never promise what you can’t deliver
-
Be ambitious – don’t be afraid to take risks now and
then. Being too cautious means you may miss out on excellent
opportunities and the chance to grow your business
David Roberston, chief executive of Bibby Financial Services, said: “It’s
disappointing that women are still not feeling adequately supported by the
government and the business community when it comes to setting up on their
own. Like their male counterparts, women can bring many valuable skills to
the table and it’s the responsibility of those involved in the funding,
support and longevity of new businesses to encourage the next generation of
entrepreneurs, male and female.”
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