The Government has launched the first-ever Women’s Prowess National Policy Centre (PNPC), which it claims will act as a one-stop shop for the latest in women’s enterprise-related research and policy.
The new policy centre is receiving more than £500,000 of funding from the Department of Business and Regulatory Reform up to March 2009, and aims to increase the number of female entrepreneurs in the UK through the promotion of best practice and by raising awareness and understanding of women’s entrepreneurship across Government, the regional development agencies (RDAs), financial institutions and multi-national corporations.
No decision has yet been made on whether future funding will be provided for 2009-2010, with the ultimate aim for the PNPC to become self-funding.
The centre is to be managed by Prowess, a UK-wide advocacy network that supports the growth of women’s business ownership through the development of a female-friendly business support infrastructure and enterprise culture.
The centre is the first of its kind in Europe, and has been established following a commitment made by the Government in its Enterprise Strategy in March to further promote and support the development of women’s enterprise.
Shriti Vadera, Minister for Competitiveness and Small Business, said there are 20% more people engaged in enterprise in the US than in Britain, with the majority of that gap made up of women.
She argued that getting more women entrepreneurs was an economic issue, not just an equality issue.
She said: “If we were to match US levels of women’s enterprise, there would be 900,000 new businesses in the UK. There is a wealth of untapped talent and economic opportunity that could substantially boost the economy.
“The Prowess National Policy Centre marks the Government’s strong commitment to support women in business.”
Stephen Timms, Financial Secretary to the Treasury, added that boosting women’s enterprise would be a big plus for the economy, which was why the Government was happy to increase its support.
He said: “The establishment of the Prowess National Policy Centre is a milestone in the development of women’s enterprise, providing a focal point for research and a centre of expertise in policy”. n
