Scottish Government aims to unlock women-led business export potential

In Scotland, the Scottish Government has initiated efforts to develop the export potential of women-owned businesses. This initiative comes in light of research that has shown that Scotland's trade could increase by between £3.4 billion and £10.3 billion over the next two years if women-led firms export at the same rate as their male counterparts. Business Minister Richard Lochhead highlighted the importance of this endeavor during a visit to Raven Botanicals, a business founded by sisters Arabella and Charlotte Harvey. Their company is an example of the opportunities and challenges faced by women entrepreneurs in the trade sector. The Gender Export Gap report revealed significant barriers to exporting for women-led businesses. Notably, these firms tend to be smaller and predominantly operate within the services sector, factors which contribute to the discrepancies in exporting rates when compared to businesses owned by men. A critical observation in the report was the need for tailored support to help female entrepreneurs navigate the exporting landscape, as access to financial resources remains a significant obstacle. Minister Lochhead affirmed that the Scottish Government plans to specifically target more women entrepreneurs for participation in trade missions and export training programs. He stressed that this is only the beginning of broader efforts to bridge the gender export gap. By collaborating with organizations such as Scottish Development International and the Scottish Chamber of Commerce, the government aims to understand the unique export needs of women-led businesses and offer relevant support. Arabella Harvey, representing women's voices in business, spoke about the challenges that early-stage growth companies like Raven Botanicals encounter in accessing export support, despite evident interest from international markets. Her perspective highlighted the potential for substantial economic growth through the empowerment of female entrepreneurs, which would not only benefit individual businesses but also enhance Scotland's international reputation in trade. Lockhead's visit and the ongoing initiatives signify a broader recognition of the economic potential that lies within the untapped resource of women-led businesses in Scotland.