The Back Her Business initiative has been designed to help more female entrepreneurs launch their own business. The UK-wide campaign is part of NatWest’s pledge to inspire 400,000 female-led business by 2025.
The initiative works by giving participants a crowdfunding platform to raise the money they need to launch a commercial enterprise, as well as free coaching, mentoring and opportunities to meet like-minded women.
The bank is providing a top-up fund of £1 million per annum and will be offering a grants to qualifying businesses. Applicants are required to set up a crowdfunding project with a minimum target of £1,000. Successful applicants will receive match funding of up to 50% towards their target, up to a maximum of £5,000.
This programme is open to UK-based, female-led start-up businesses and those with a new trading activity.
Cheryl Gourlay, NatWest National Women in Business Manager, said:
"Women start businesses with 53% less capital on average than men, are often less aware of funding options, and less likely to take on debt. We want to see that change because there is a wealth of untapped talent out there.
"Back Her Business provides an accessible funding platform as well as peer-to-peer support and mentoring."
Applications may be submitted at any time further details here.