Women-led businesses consistently outperform those led by men. Fact! Reports show that women bring in 20% more revenue even when their start-ups attract 50% less in investment. The story becomes even more depressing when you hear that only 6.2% of all small and medium-sized enterprises (SMEs) are BAME-led. Hatch Enterprise aims to change this narrative with the launch of a new incubator programme specifically targeting fearless founders of colour.
Hatch’s Female Founders Accelerator programme kicked off earlier this autumn, with support from Natwest and eBay and it is one of the UK’s only small business support networks for BAME women (women in the UK who have non-white backgrounds including black, Asian or minority ethnic). For a number of years, they have supported ambitious women entrepreneurs, now armed with insight from these interactions, they have launched this, their newest venture.
The group will have five months of intensive support including two months of workshops focussing on business growth
So, what is the programme all about? A group of female entrepreneurs from a wide range of industries have been selected to join the programme, giving them time and space to work intensively on their business ideas at Google’s dedicated learning space, Academy London. The group will have five months of intensive support including two months of workshops focussing on business growth (e.g. business modelling, marketing, financial management, public relations and more), business coaching and dedicated networking sessions; followed by three months of expert mentoring for each individual.
Hatch Enterprise Programme Manager, Bayo Adelaja, said: “Without support, nine out of 10 entrepreneurs will fail over any given three-year time period. For the BAME community, 19 out of 20 female founders will fail over the same time period. With our Female Founders (BAME) Accelerator, we want to reduce failure rates by 70%, enabling at least 14 of the 20 female founders to build a sustainable business that survives beyond its third birthday.”
NatWest Managing Director of Personal Banking in London, Rachel Blackamore, said: “It’s through initiatives like the Female Founders BAME Accelerator that we are able to support people who might not have accessed business training independently, encouraging the different ideas and ways of thinking that are essential to the sustainable economic and social development of a thriving and diverse society.”
So, who are the faces behind this year’s Female Founders Accelerator? Check out the list below, but don’t forget, before they become household names, you heard about them here first!
Hatch Enterprise Fearless Female Founders
Yasmine Boudiaf (Serious Datum) www.seriousdatum.com
Elizabeth Akanbi-Ogabi (For Working Ladies) www.forworkingladies.com
Jenine Baptiste (Baptiste) www.baptiste.co.uk
Joy Montgomery (On Screen JM London) www.jm-london.com
Bami Kuteyi (Bam Bam Boogie) www.bambamboogie.com
Saidat Giwa-Osagie (Adorli) www.adorli.com
Jennifer McCall (BeLifted) www.beliftednow.com
Namrata Kamdar (Plenaire) www.plenaire.co
Gaia Beck (Cocktails & Conversation) www.cocktailsandconversations.co.uk
Yana Binaev (Yana Binaev) www.yanabinaev.com
Joy Zou (Solocal Travel) www.solocaltravel
Sahra Mohamed (Skin Mama) www.skinmama.co.uk
Caroline Zimba (Zimbayoga Ltd) www.zimbayoga.com
Eni Adeyemo (Barbell Brunch Club) www.barbellbrunchclub.com
Hema Selvaraj (Hep Audrey Ltd) www.hepaudrey.com