FROM HACKNEY TO LEWISHAM: £100M IN START UP LOANS FUELS LONDON’S FEMALE ENTREPRENEURS
FEMALE ENTREPRENEURS SECURE £100M AS LONDON START UP LOANS HIT MAJOR FUNDING MILESTONE
Female entrepreneurs across London have received £100 million in finance through the British Business Bank’s Start Up Loans programme, with more than 10,800 loans supporting businesses across the capital and Hackney and Lewisham emerging among its strongest entrepreneurial hotspots.
The British Business Bank’s Start Up Loans programme has reached a major milestone after delivering £100 million in finance to female entrepreneurs based in London.
A total of 10,853 loans have been issued, supporting approximately 10,000 businesses and providing early-stage entrepreneurs with finance to establish and expand their companies.
The figures also reveal how widely the funding has been distributed across the capital, with 58 of London’s 75 Parliamentary constituencies receiving at least £1 million in Start Up Loans finance for female entrepreneurs.
HACKNEY AND LEWISHAM LEAD LONDON’S FUNDING HOTSPOTS
Hackney South and Shoreditch ranks as the leading London constituency for finance delivered to female entrepreneurs through the programme, receiving £2.86 million.
Lewisham East follows with £2.05 million, ahead of Lewisham North at £2.03 million, Tottenham at £2.02 million and Chelsea and Fulham at £2 million.
When adjusted for population, Hackney South and Shoreditch also emerges as the capital’s leading entrepreneurial hotspot, recording 266 loans to female entrepreneurs per 100,000 residents.
Lewisham North recorded 229 loans per 100,000 residents, followed by Lewisham East with 224, Hackney North and Stoke Newington with 220 and Tottenham with 207.
Across North London, female business owners received £57.5 million through 6,213 loans, compared with £43 million across 4,640 loans in South London.
FINANCE REACHES UNDERREPRESENTED ENTREPRENEURS
The figures also highlight the programme’s role in widening access to business finance.
Almost half — 48% — of Start Up Loans issued to female founders in London went to entrepreneurs from ethnic minority groups.
Among recipients aged between 18 and 24, 24% were categorised as not in employment, education or training before starting their businesses.
The British Business Bank has now expanded eligibility for Start Up Loans to businesses that have been trading for up to five years, potentially opening the programme to thousands more entrepreneurs.
FROM START UP LOAN TO NEW CONSUMER BRAND
Among the founders supported is Iuliia Carey, who established London-based premium baby and toddler carrier brand TAGALONG Baby.
Carey, who became a mother in 2022 after previously working as an interior designer and building a business in the beauty sector, used a Start Up Loan to finance the first production run of her baby carriers.
The finance also supported independent laboratory testing against recognised European and American safety standards, technical documentation, regulatory requirements, design protection, branding and packaging.
“The Start Up Loan didn’t just help fund a new product. It helped turn an idea into a trusted brand built on safety, quality and thoughtful design,” Carey said.
“Becoming a mum in 2022 completely changed my perspective on life. Like many parents, my priorities shifted overnight, and I experienced first-hand both the joys and the challenges of everyday parenting.
“As I started using baby carriers, I realised that although there are many great products available, I couldn’t find one that truly combined comfort, practicality, safety and timeless style.
“I didn’t set out to create just another baby carrier. I set out to solve the problems I experienced as a mother.”
EARLY FINANCE CAN BE TRANSFORMATIONAL
Yandis Ying, founder of Dot Dot Tea, also received support through the programme and has subsequently built the company’s retail distribution.
“The Start Up Loans programme gave us the confidence and early funding to build Dot Dot Bubble Tea into the UK’s first dedicated bubble tea brewery,” Ying said.
“Today, we’re stocked by retailers including Harrods, Selfridges, Costco, Planet Organic, Virgin Atlantic and the University of Cambridge. Access to finance at the right stage can make a transformational difference for ambitious founders, particularly female entrepreneurs.”
BRITISH BUSINESS BANK TARGETS FURTHER GROWTH
Louise McCoy, Managing Director, Start Up Loans Products at the British Business Bank, said the £100 million milestone demonstrated the breadth of entrepreneurial activity across London.
“It’s incredible to reach this £100m lending milestone for delivering Start Up Loans to London’s female business leaders,” she said.
“Entrepreneurial activity is bubbling away in every area and every community across London, and business owners like Iuliia brilliantly demonstrate the drive and determination of enterprising female Londoners to establish innovative and successful businesses.
“However, we’re determined to provide even more support to London based entrepreneurs than ever before. Therefore, we’ve expanded access to Start Up Loans, so now businesses that have been trading for up to five years can apply, opening the opportunity for thousands more female-led businesses in London to start and grow with support from Start Up Loans.”
