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Female entrepreneur fund 'can boost economy post-Brexit'

Published 24/10/2016

AllBright aims to support Britain's female entrepreneurs
AllBright aims to support Britain's female entrepreneurs

The co-founder of a new £10 million fund targeting Britain's female-led firms says women are key to solving the post-Brexit economic slump.

Debbie Wosskow, the chief executive and founder of home exchange platform Love Home Swap, told the Press Association that the current period of economic uncertainty was the perfect time to launch AllBright - a funding platform set to support Britain's female entrepreneurs.

"More than ever, businesses need support to weather the Brexit storm and ensure that they continue to thrive and deliver.

"And if we can fully engage women in starting those businesses, then that's great for the UK," Ms Wosskow said following the fund's launch on Monday.

She pointed to YouGov research commissioned and released by Facebook earlier this year, which showed that if every woman who was interested in running their own business was able to do so, it could inject an extra £10.1 billion into the British economy.

"It feels like it's a really important time to try and make the UK really good at this," Ms Wosskow said.

The fund - which was co-founded by Ms Wosskow and Hearst UK boss Anna Jones - aims to raise £10 million by year-end.

It already boasts backers including former Labour minister Lord Davies and Founders4Schools chair Sherry Coutu, both of which will sit on the fund's advisory board.

But Wosskow said that Allbright's angel platform stands to deploy "a lot more" than £10 million.

The angel network will be part of the fund's three-pronged support system, which will also offer a crowdfunding platform and access to "vital business resources and learning" through its AllBright Academy.

AllBright expects to fund its first batch of female-led businesses in the coming weeks.

Ms Wosskow said: "There is some exceptional female business talent in the UK just waiting to be discovered and accelerated."

Press Association

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