Investing In Women Code

The Landscape: Women Entrepreneurs & Debt Finance

The 2025 Investing in Women Code annual report highlights a persistent challenge: women-led businesses remain underrepresented in debt finance markets, despite demonstrating high levels of resilience and creditworthiness.

Key data from the 2025 report:

• Only 14.2% of women-led businesses accessed secured debt in 2024, compared to 61.1% of men-led businesses.

• The average loan amount for women-led firms was two-thirds that of male-led firms, and just one-third that of mixed-gender teams.

• Loan approval rates were broadly similar across genders.

• Women-led firms were more likely to choose slower growth over borrowing.

The Problem: Too Few Lenders Are Engaged

Out of 290 Investing in Women Code signatories in 2025, only 17 are banks or non-bank lenders. This limited participation is affecting the quality and completeness of debt finance data. 

Without sufficient transparency, we can’t accurately measure where financial exclusion occurs or fix it. The system risks reinforcing barriers and unconscious bias, rather than removing them.

Why It Matters

Women-led businesses generate up to 35% higher returns.

Equal access to finance could unlock billions in GDP, strengthen supply chains, and boost employment across the UK.

Lenders that join the Code show leadership, build trust, and enhance their impact and ESG profiles.

How Lenders Can Join the Code

We’re calling on all UK banks, fintechs, CDFIs and alternative lenders to:

Sign up to the Investing in Women Code

Collect and report gender-disaggregated data annually

Design better, fairer finance products for women entrepreneurs

To start the sign-up process or learn more, email:

📧 investinginwomencode@businessandtrade.gov.uk

Help Us Close the Gap

Women-led businesses are not just worthy of investment, they are essential to the UK’s economic future. Let’s ensure our finance systems reflect that reality.

👉 Join the Code Today