NEL figures spotlight female funding progress

Female-led businesses in the North East are approaching lenders for growth finance at almost twice the national rate, according to new figures from NEL Fund Managers.

The Team Valley-headquartered investment firm found that one in four business plans it received during the past financial year came from female-led businesses, compared with a national average of around one in seven businesses seeking debt finance.

Between April 2025 and March 2026, female-led firms accounted for 25 per cent of all investments completed by NEL, including funding for twins Stella Laird and Jodi McSherry, founders of County Durham wedding venue Blackton Grange.

The figures contrast with the wider debate around female entrepreneurship, which has largely centred on venture capital, where female-founded businesses receive less than 2p of every £1 invested. 

NEL said the picture is more encouraging for debt finance, with national data showing female-led businesses are just as likely to secure funding as male-led firms when they apply.

The investment manager believes the challenge is encouraging more female entrepreneurs to explore debt finance as a route to growth.

Susan Snowdon, investment executive at NEL Fund Managers, said: “The statistics around female entrepreneurship are often dominated by venture capital figures, but those numbers don’t tell the whole story.

“Our experience shows that female-led businesses are successfully securing debt finance and using it to grow, create jobs and invest for the future. 

“The challenge is often ensuring founders are aware of the options available to them and feel confident engaging with the right type of funding at the right time.”

Alongside funding, NEL provides strategic guidance and business support, while initiatives such as its Female Founders Fireside series, delivered with partners including Barclays Eagle Labs and NatWest Accelerator, aim to build confidence and encourage more women to consider external investment.

The figures come as organisations including Lifted Ventures, which supports female founders and investors, and entrepreneur network The Whole Point continue to expand support for women in business across the North East.

Susan added that greater awareness of alternative funding options will help founders make informed decisions about growing their businesses.

She said: “We’re seeing strong levels of engagement from female-led businesses across our region, and there’s a real opportunity to build on that momentum through greater awareness, stronger networks and increased visibility.

“Debt finance can be a particularly attractive option for established businesses looking to invest in growth while retaining ownership and control.

“By helping founders understand the full range of funding options available, we can ensure more businesses have the information they need to access the right finance for their growth ambitions and continue building successful companies across the North East and beyond.”

Read our recent interview with NEL Fund Managers chief executive Paul Scott to find out more about the firm's growth strategy and future ambitions.

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