UK Export Academy Holds Female Entrepreneur Focused Virtual Event

During a Department of Business and Trade (DBT) webinar on November 3, government and industry stakeholders praised the rising availability of support services and digitalization for female entrepreneurs moving into global markets.

The webinar was arranged by the DBT's UK Export Academy to help female business owners build their firms through foreign commerce. According to Irina Shmakova, an adviser at the DBT Export Academy, while progress is being made in increasing female involvement in international commerce, gender prejudice persists at both the national and international levels.

The lack of women in leadership roles was seen as a serious impediment. According to research, closing this gap could contribute £250 billion to the UK economy.

The President of the Organisation of Women in Trade UK (OWIT), Noreen Burroughes Cesaero, underlined fundamental hurdles for women in leadership roles, such as restricted access to networks and time limits owing to family responsibilities.

Digitalization was heralded as a game changer, leveling the playing field for women-led firms seeking to join foreign markets at a low cost. Burroughes Cesaero emphasized the importance of digital technologies in market research, audience comprehension, and product adaptation. The United Kingdom's Electronic Trade Documents Act was lauded for its role in recognizing digital trade paperwork on par with paper counterparts, a benefit that is especially important for women-owned small and medium-sized businesses.

DBT assistance in gaining admission to trade events was found beneficial for companies such as Treeco Commodities, which exports cashews to Europe and Asia. Barclays also stated that high street banks were striving to solve finance problems encountered by female company owners. Efforts are being made to simplify the SME support provided by the UK Export Finance (UKEF) to help smaller enterprises secure finance.

Holly Piggott, a female company owner, welcomed the present assistance available for women wishing to expand abroad and stated that it is a good moment for women to enter the business sector, with more backing and chances.