Supporting Female Entrepreneurs – Back Her Business from Nat West07-Feb-2020
NatWest continues its work on an initiative that supports females across the UK planning to start a new business or enterprise.
Launched nearly a year ago, Back Her Business is a the crowdfunding programme developed in partnership with established provider Crowdfunder, and forms part of the bank’s goal to reduce the gender gap when it comes to entrepreneurship.
Back Her Business enables women to register for the programme and prepare their business idea for crowdfunding.
Crowdfunder says they will provide the infrastructure and access to its wider network of partners and entrepreneurs, with the bank acting as a connector and enabler.
It is expected that most of the funding will come from ‘the crowd’, however the bank will provide a top-up in funding of £1m per annum 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 based on equity, instead it would be donation and reward based (e.g. for some cases, funders may be given a discount towards products or services in return for their donation).