HSBC has today launched a Female Entrepreneur Fund (“Fund”), which will provide USD1 billion in lending to female-owned businesses in 11 markets including Malaysia over the next 12 months.
This comes alongside the introduction of the HSBC Roar initiative, which enables female entrepreneurs, as well as successful Fund applicants, to access; a series of masterclasses hosted by experienced business leaders; Tailored networking sessions with major companies in markets where the Fund operates, Insights from the investor community and the opportunity to pitch to angel investors and Bespoke advisory for female entrepreneurs from experienced HSBC bankers
It is said that the initiatives launched today aim to break down the barriers faced by female entrepreneurs and provide the infrastructure and support to help them scale and grow their businesses.
Access to funding remains one of the biggest hurdles for female business leaders worldwide. Female-owned businesses received just 3% of start-up funding in 2019, while venture capital for female-founded enterprises hit a five-year low of 2% in 2021. . Boston Consulting Group estimates closing the gender gap for women-led businesses could boost global GDP by US$5 trillion
Andrew Sill, Country Head of Commercial Banking, HSBC Malaysia, said: “We are delighted to launch the Female Entrepreneur Fund and the HSBC Roar programme in Malaysia today to help address the challenges and bias that female leaders face.
As the Malaysian economy continues to rebuild from the impact of the pandemic, small and medium-sized businesses will continue to be the bedrock on which our economies and local communities are built, meaning we need to ensure that those led by women are given the support to fulfil their full potential.”
