A bank director has spoken out about the need for more female entrepreneurs.

Jenny Francis, local director at Southampton Metro Bank, highlighted the significant economic potential of women-led businesses.

According to the Rose Review, £250 billion could be added to the UK's economy if women matched men in starting and scaling businesses.

Jenny said: "Women-owned businesses are a significant and growing force in the economy, with women entrepreneurs leading a diverse range of industries and contributing to innovation and economic growth."

However, she noted that women entrepreneurs face several challenges, particularly in securing funding.

According to her, this "funding gap" persists at every stage of a business's journey, with women often more reluctant than men to take on debt to start up their own businesses.

The Rose Review identified four key areas where women reported needing more support to be successful in business: mentoring, access to funding, networking, and childcare.

There are specific organisations available to help women starting out.

These include Women in Business, a leading network in the UK, and various chambers of commerce with women in business groups focused on local meetings.

The Women’s Business Network also hosts online meetings every fortnight.

In terms of start-up funding, there are options like the Female Founders Fund, Innovate UK, and the Enterprise Hub, although grants will be subject to certain criteria.

Jenny added: "My role is all about relationship banking which is central to the customer service we offer at Metro Bank.

"We have local business managers and local directors like me in each of our stores just to support the local businesses in our communities.

"We are active in our local communities and offer a unique perspective, working with key business influencers to help our business customers access what they need to grow and succeed."

In Southampton, women business owners have been successful in sectors such as healthcare, education, law firms, and personal services.

Metro Bank regularly holds networking events in its stores for local business owners, encouraging women thinking about starting up a business to attend for advice and support.