The participation of women in entrepreneurship is significant and rising globally. In the UK, the DTI stated in 2004 that if women started businesses at the same rate as men, then the UK would have another 150,000 new firms pa. This is a core business area for us.
JMP Finance recognises the visible and invisible challenges that female professionals can often face in accessing the right type of finance. Sometimes, as in the case of seeing a doctor, a female looking for finance may simply prefer to work with a female banker. We have those personal contacts and have established an excellent group of lenders with dedicated finance teams specifically geared towards supporting female business owners.
Regardless of gender, this in no way changes a bank’s assessment of a business idea in relation to the security, viability and affordability of a business proposition. However, we work with banks and lenders that have the appropriate mindset. In reality, this means them recognising that women in business often have different priorities and approach to business when compared to men.