The partnership between the network of women entrepreneurs and the bank will help female founders get their business to a new level by offering expertise and access to funding
In times like these, when inequality, sexism and the gender pay gap are constantly in the news it’s great to see some people trying to fix these issues instead of just lamenting about them. One of them is Allbright, the network supporting female founders. Now it’s had a huge win that could make it easier for women to realise their entrepreneurial aspirations.
The new partnership with HSBC aspires to make it easier for female founders to find funding, something 42% of women entrepreneurs struggle with, according to Allbright. The private bank will support the network by sitting in on its pitch days. These monthly events enable women to get advice and support from experienced angel investors, high net worth individuals and business leaders. The partnership will see HSBC provide the businesses with access to funds and investment advice. It’s part of HSBC’s bigger ambition to help more entrepreneurs realise their dreams.
This news comes after Allbright entered into a partnership with Facebook in July 2018. Just one month later the network secured a £9m investment. The money is planned to go to funding a new club in Los Angeles and a second that’s set to open in Mayfair in 2019. At the same time former Asda CEO Allan Leighton was named chairman of Allbright.
Commenting on the HSBC partnership, entrepreneurial superstar Debbie Wosskow, founder of Love Home Swap in the past and who is one of AllBright’s two co-founders, said: "We are delighted to be partnering with HSBC Private Banking. They bring a wealth of business knowledge, global connections and decades of experience to AllBright’s pitch days – helping to achieve our joint ambition of supporting female entrepreneurs”.
It’s great to see bigger trade bodies support organisations like Allbright that are backing female entrepreneurship especially as closing the gender gap in entrepreneurial Britain could add billions to the economy. If everyone has the same opportunities, everybody wins.