Helping women in business beat the barriers
"CWRT were refreshingly different, open minded and positively encouraging with their support."
To mark International Women’s Day in March, Coventry & Warwickshire Reinvestment Trust (CWRT) celebrated women entrepreneurs who succeed in the world of business despite the ongoing hurdles that women-led businesses still face, whether it’s securing funding, accessing the right support or overcoming outdated biases that persist.
Women-led businesses contribute billions to the UK economy yet, according to British Business Bank, in 2023 women-led businesses raised only 8.2% investment, significantly less than their male counterparts. If women in business received the same investment as male-led businesses, £250 billion of new value could be added to the UK economy according to The Rose Review in 2022.
The team at CWRT is determined to close this gap. As a specialist finance provider, CWRT can offer a person-centred approach to accessing finance, making sure that underserved communities like women-led businesses are included, feel empowered and remain informed. Throughout recent years CWRT is proud to have supported multiple women-led businesses across diverse industries and sectors and continue to work to do more.
Carmen Walker of Carmen Walker Hair, a specialist hairdressing salon, recently highlighted some of the struggles she came across as an ethnic minority woman in business when trying to relocate her services.
“The journey of building a business as a woman is filled with unique challenges from balancing responsibilities, securing funding, and demonstrating the true value of your vision," she said. "Traditional lenders can be hesitant when it comes to backing hair and beauty businesses, but CWRT saw the potential in mine.
“Their support wasn’t just financial; it was a vote of confidence that allowed me to bring Carmen Walker to life in Leamington Spa. At Carmen Walker, growth is at the heart of everything we do, whether it’s helping our clients grow in confidence through expert hair care or continuously honing our skills to deliver the best results. With CWRT’s backing, I was able to create more than just a salon. Carmen Walker is a space where every individual is celebrated, no matter their hair type or texture. A place where personal style is nurtured, and self-care is a priority.
Women-led businesses aren’t just viable, they’re essential. I’m grateful to CWRT for recognising that and for helping me build a space where people can feel their best, inside and out.”
Sally Rees owner of Wicked Cookies, a company that offers speciality cookies for diverse dietary requirements praised CWRT’s funding solutions that allowed her business to grow and solved her cashflow issues, allowing her to expand her product range.
“Starting and growing a business as a woman with a family is most certainly a challenge,” she said. “Traditional lenders today are really making it difficult for small businesses that do not tick all their boxes to grow and progress. I exhausted most options and was starting to wonder if we were doing the right thing in looking forward with a rather unique and somewhat unorthodox plan! CWRT however, were refreshingly different, open minded and positively encouraging with their support and sharing our magical vision of what Wicked Cookies is growing into as a family business that was started as a dream to go to Disneyland.
“Their funding has been critical in enabling us to implement our expansion plans for the coming year and we have such exciting times ahead! Women-led businesses are viable and often creative endeavours that are not only vital for the economy, but for a world that needs something more than the expected and mundane.”
This is a story that CWRT hears often as many women struggle to access the finance solutions they need to launch, sustain and grow their business. Mainstream and High Street lenders often apply rigid criteria that fails to acknowledge the additional barriers faced by women entrepreneurs. That’s where CWRT are proud to be different, ensuring that talented, innovative women have the financial backing they deserve, supported by a process that breaks down barriers, is transparent and provides support and information throughout the journey.
CWRT’s CEO Sheridan Sulskis added: “The impact of funding solutions and support to the underserved women-led businesses is clear. Many of the businesses we’ve helped have gone on to create jobs, drive local economic growth, and inspire the next generation of women entrepreneurs. CWRT’s goal is simple, to ensure that every business has the opportunities, resources, and backing they need to thrive.”
CWRT encourages anyone struggling to access business funding for whatever reason to contact our friendly team and start the conversation that could make the difference you have been waiting for.