Crowdfunding breaks down financial barriers for businesswomen
Women are more successful at crowdfunding startup and growth capital than they are at securing traditional forms of financial support.
We can also reveal that women are better than men at raising the money they need from the crowd.
According to our statistics 40% of female-led projects are successful compared to 34% of male generated projects.
Bloom founder and CEO Amanda Boyle explained: “It’s widely recognised that women are not as successful as men at securing financial support from traditional sources for their businesses. But crowdfunding has changed that for the better – and forever.
“Crowdfunding is democratising finance and making it possible for anyone, anywhere in the world, to start a business or fund a community or social project. Women, who are naturally better communicators – and supporters – are finding this new model suits them perfectly.
“These statistics from our community are exciting – and they bode well for the future of female entrepreneurs, whether business or social.”
We have also discovered that women are more likely to back a project than a man, and that there are more “serial” female backers than male.
“This is particularly interesting when you consider that there is a dearth of female investors in the UK,” said Amanda. “Only round 5% of angel investors in the UK are female, but it’s clear to us that women do like to back businesses and community projects when given the chance to do so.”
We’re really proud of our female crowdfunders – here are just a few of our success stories, which highlight the impact crowdfunding is having:
Polly Quigley – Polly crowdfunded £1300 to create a packaging prototype that would allow her to distribute her cupcake bouquets nationally. She now has an effective box that will be available in approximately 6 weeks. This will allow her to send nationally via her website as well as supply to online retailers and roll out the service to 18,000 florists in the UK. She also has a distribution deal with Interflora.
Mhairi Mackenzie – Mhairi makes acrylic jewellery but needed £7.5k to buy her own laser cutter in order to increase production and grow her business. Since her successful crowdfund she has moved the manufacturing of the business back to her hometown on the Isle of Bute in Scotland. She now works full time on the business, has employed two staff and has a team of 5 piece workers all based on the island. She's receiving lots of exciting requests from magazines and celebrities (her custom pieces are worn by celebrities such as Llana del Rey and Olly Murs - Usain Bolt was photographed wearing her custom knuckledusters) and is now able to turn them around on time to meet next day deadlines. She has featured on BBC Breakfast and has even attracted a private investor.
Elke Barber – Elke is a young mum whose husband died suddenly and she struggled to explain death to her 3-year-old son and 1-year-old daughter. Discovering a lack of resources available to help her, she decided to write a book based on her son’s questions. But having saved £8k to publish the book she was diagnosed with breast cancer and her savings were needed for day-to-day living expenses. “Is Daddy Coming Back in a Minute?” was hugely successful on Bloom. Elke asked for £8k and raised more than £11k during the project with thousands more flooding in after the project closed.