Money

RBS partners with Crowdfunder to support female entrepreneurs



A new initiative supporting female entrepreneurs across Scotland has been launched by Royal Bank of Scotland.

The Back Her Business programme has been developed in partnership with Crowdfunder and is part of the bank’s ambition to reduce the entrepreneurial gender gap and inspire and support a further 400,000 female-led businesses across the UK by 2025.

Crowdfunder will provide access to its network of partners and entrepreneurs with the bank acting as a connector and enabler. Though most of the funding will come from ‘the crowd’, the bank will provide a top-up of £1 million a year across the UK and will be offering up to 50% of an individual’s fundraising target, capped at £5,000, for certain successful projects.

The initiative will not be equity crowdfunding, it will be donation and reward based – i.e. funders will be given a discount towards products or services in return for their donation in some instances.

Malcolm Buchanan, chair of Royal Bank of Scotland’s Scotland Board, said: “Providing support to all businesses throughout Scotland is a key priority for us at Royal Bank of Scotland.

“I know from the work we do with entrepreneurs in our Scottish Entrepreneur Accelerator Hubs in Glasgow and Edinburgh and through our female business leaders and supporters, that there is a wealth of female entrepreneurs and business owners who are really driving ambition and change in Scotland.

“I see women with drive, passion and courage to go it alone and start their own business. The time couldn’t be more apt for us to really mobilise this energy and make some meaningful changes. I am delighted that today we officially launch the Royal Bank of Scotland’s Back Her Business programme which will help make some of that change happen.”

Back Her Business will offer financial support to help businesses get off the ground but by using the bank’s Entrepreneur Accelerator programme, its Women in Business proposition and its industry experts, the initiative will offer training and coaching, networking opportunities and local events to help concepts reach the market and grow.

Rob Love, CEO of Crowdfunder, said: “This is a brilliant opportunity for more women across the UK to turn their ideas into reality.

“Crowdfunding has been proven to help women validate their ideas, build confidence and raise the funds they need to make their ideas happen – more than half of our crowdfunding community is female.

“So we look forward to providing the inspiration and support, alongside Royal Bank of Scotland, needed to help more female entrepreneurs get their business ideas backed.”



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