Today, 11 years later, there's a $1.7 trillion global funding gap for women entrepreneurs, and it shows no - or very slow - sign of closing. While attitudes toward women in business have somewhat improved, and overt biases have lessened – I would be remiss to say they have disappeared entirely, the reality is that women-founded ventures still face significant hurdles compared to those led by men, especially when it comes to securing fair funding terms.

The funding gap isn't due to a single, simple cause, and it does the problem a disservice to make it as black and white as many would wish. This is a systemic and nuanced issue, and addressing it requires more than a surface-level understanding; an issue of this magnitude demands thought, attention and solutions. The World Economic Forum estimates that it will take over 152 years to achieve gender parity in the global economy. I don’t know about you, but I don’t have the time to wait that long! So, how do we speed this up? 

The reality is, not only is providing women with equal access to funding about fairness - it is also smart business. In the movement for this, there's a common misconception that efforts to fund women are simply about gender, and this is simply not the case. We need to fund women, bring them to the table, and let their voices be heard as doing so unlocks enormous innovation and value creation. 

Women are different from men – it isn’t an insult to either party to state as much, and that diversity is valuable. Women spot different problems, solve them differently, and consequently they have different contributions to the business landscape. Acknowledging as much has great potential - research has shown that funding women entrepreneurs could significantly boost the global economy. According to the McKinsey Global Institute, investing in women entrepreneurs could add up to $28 trillion to the global economy, which translates to a 26% increase in global GDP by 2025. As we look to close this gap, highlighting the value and unique insights that women-led businesses bring to society and to the economy in equal measure is critical. 

Women-founders can’t do this on their own – it takes a village, and creating a network that supports this is vital. Community plays a crucial role in bridging this gap – in fact, I believe that community is capital. A strong community provides women entrepreneurs with mentorship, resources, and access to networks that can open doors to funding and opportunities. By building a community of support, we create an environment where women entrepreneurs can thrive, learn from each other, and navigate the challenges of securing capital together. The journey can seem less daunting when you have people by your side! 

Community also plays a critical role in challenging the status quo and advocating for equal opportunities. Collective action, shared knowledge, and support can serve as key drivers of change. By coming together – investors, entrepreneurs, policymakers, and partners – we can build an inclusive ecosystem that values and, more importantly, actively invests in the potential of women-founded businesses. The bottom line is this mission is about recognising the untapped potential that women entrepreneurs bring to the table. On this Women Equality Day, remember that this fight is not just about creating a fairer world – it is about creating a more prosperous one for everyone.