It is with great delight that I hear today that Jeremy Corbyn is bringing in policies for the equality of women. In a society dominated by widespread banking corruption at the heart of the city and dominated by patriarchy, Corbyn recognises that if you empower women you empower a nation.
I suspect that Corbyn will bring in massive change in the banking system and will attempt to dismantle the “old boys network”. It would be ideal if part of this reform takes into account the fact that lack of access to finance and punitive banking loans are currently strangling female entrepreneurship.
ACCESS TO FINANCE
As part of this reform, it would be amazing if it is recognized that the access to finance is currently one of the main barriers to female entrepreneurship. It is already widely accepted that female entrepreneurship is an economic issue but no-one is really was doing anything to enable it.
The combination of free childcare and micro-credit would revolutionise the lives of women. For the first time, women would be enabled to become financially independent. This is a huge change and at it’s heart, it is an economic change. Corbyn realises that if you empower women, you empower a nation. Microcredit banking through a new National Investment Bank would release microcredit loans to SME’s owned by women to encourage business start-ups and growth.
We have business accelerator programs that are no more than glorified car salesmen acting solely as salesmen for the banks. Obviously, this is corrupt and useless. I hope that Corbyn flushes these out by his measures for reform for the equality for women.
VC FUNDING FOR WOMEN-OWNED BUSINESSES
Another issue that is very important is VC funding. We have dreadful statistics, as shown above. Why can’t some of these measures include match funding to help women start up their own VC firms to invest in women? We need more VC’s that are NOT part of the Old Boys Network. I would like to see a vision of the future where I set up my own venture capital firm to invest in women. Maybe under Corbyn’s reforms, this might be possible.
Corbyn’s investment in women can help to create and grow some of the world’s most incredible entrepreneurs as well as contributing hugely to social projects internationally. I just hope that he realises that women’s equality extends to female entrepreneurship too.