HSBC UK calls for support for women entrepreneurs to boost financial skills

The bank asked 1,057 female founders what skills women need to be successful business owners and how they rate themselves against those characteristics.

While 53% of respondents said financial knowledge was one of the top must-haves, just 8% said they were very confident in this area, with over half (56%) saying they had either ‘moderate’ or ‘poor’ financial knowledge.

Communication and emotional intelligence were voted the most important attributes in a leader, with 35% and 33% respectively saying they were highly proficient in these skills.

Sara Davies, MBE, says: “It's a sad reality that many small businesses fail, not because the product’s not good, or the entrepreneur isn’t brilliant… it’s often down to financial struggles.

“As an entrepreneur, one of the most important things you must get your head around is your finances. That means really understanding the cash coming in and going out, where you’re making money, and knowing how to access finance if you need it.

“If numbers aren’t your thing, then there is lots of support out there to help you with money management. Networking and learning from other women business owners can also help boost your understanding.”

HSBC UK, who have run research on women in business for the last three years, also found women are turning to more types of funding than ever to keep their business going, including government grants/incentives and bootstrapping. Around 54% of female founders have funded their business with their own income/savings, compared to 62% in 2024.

Access to finance has also improved with 11% finding it a challenge this year compared to 25% in 2025 and 42% in 2024. But there is more work to be done, with 13% of women revealing they have used a credit card to fund their business in the last year. One in five (23%) female owners wish to expand within the UK in the next year.

Stephanie Betant, Head of Global Trade Solutions and lead sponsor for women-led business at HSBC UK, said: “Businesses led by women play a vital role in the UK economy - driving growth, inspiring innovation and creating jobs. However, only 19 per cent of businesses are owned by women, a statistic that underscores the persistent gender gap in entrepreneurship.

“Without the right funding and support, growing a business can often feel out of reach. While it’s positive that access to funding has improved in recent years there is still a knowledge gap when it comes to financial education that banks and wider industry must work to bridge.”

In response to these findings, HSBC UK is reaffirming its commitment to supporting women in business through the HSBC Women’s Business Growth Initiative (WBGI) - a dedicated initiative for women business owners and aspiring entrepreneurs, which is free to join and open to all, offering events, networking, masterclasses, and personalised funding support². Over 1,000 women have signed up to the scheme since it launched in 2024.

HSBC UK is also headline sponsor of the FFINC Forward Faster Accelerator Programme where senior colleagues work with 100 female founders over a six month period to support them on their growth journey.