Westpac has surpassed $274 million of its $500 million funding initiative to support Australian women in business, benefiting 726 female entrepreneurs. Launched last year, the initiative addresses funding challenges faced by women, with 70% of female business leaders believing it’s harder for women to secure capital compared to men.
Tamara Bryden, Westpac’s managing director of business lending, emphasized the program’s dual goals of empowering female entrepreneurs and boosting economic growth. “We want to back aspiring female business owners to achieve their goals and help them turn their business dreams into reality,” she stated.
While the number of women managing their own businesses has grown by 20% over the last decade—double the rate of men—disparities persist. Women-owned businesses account for only 35% of small businesses, with flexibility (48%) and autonomy (40%) cited as the primary motivators for entrepreneurship. Westpac’s initiative aims to close these gaps and foster innovation by continuing its support for female-led enterprises.
