Forget the gender pay gap, a report in Fortune Magazine earlier this year revealed an even more alarming and substantial gap between men and women in business when it comes to raising capital.
Quoting data from M&A, private equity, and VC database PitchBook, the report shows that of all funds raised last year, all-women teams received just 2.2% of the US$85-billion pie.
And that’s not only because there were fewer women who received funding, but also because the size of their deals was considerably smaller. In fact, when comparing the 10 biggest deals made by male versus female founders last year, the lowest deal for male founders – $500 million – totally eclipses the highest deal for a female founder at just $165 million.
Inspiring Rare Birds was founded by Jo Burston in 2014 to address this and many other obstacles faced by women entrepreneurs. She says that financial acumen is often not a priority for women in business, with outsourcing being a common thing. She encourages women to take back the reins and learn how to run their own affairs, checking P&L daily and staying on top of cash flow. One of her favourite mantras is: Cash is king. With annual revenue of close to $40 million, she clearly knows what she’s talking about.
She and fellow serial entrepreneur Phil Hayes-St Clair will be in Canberra for a special event onAugust 16 titled Finding Funding: How to fuel your growth. The talk is part of the Rolfe Classic BMW Business Ignition Series aimed at giving women in ACT a valuable business boost. Jo and Phil will share their insights on raising capital: where to look, how to prepare, what to avoid and most importantly, how to succeed.
Another boost, announced on the night, will come in the form of three $1500 mentoring scholarships sponsored by Rolfe Classic BMW that will provide ACT women with a high calibre mentor from the Rare Birds community for 12 months to really help their businesses to grow.
Rolfe Classic BMW General Manager, Anthony ‘Marty’ Martin, says: “Peer-to-peer platforms such as Inspiring Rare Birds are essential when encouraging women entrepreneurship. It gives people an opportunity to not only learn from each other but to network with peers. Quite often business can be cutthroat and extremely competitive, so to find a forum where people are genuinely interested in seeing you succeed is a valuable resource.
“The Rolfe Classic Business Ignition Scholarships will allow three women entrepreneurs to set goals, share knowledge, gain exposure and learn based on the experiences of others, which in turn has a positive impact on the functioning on their business. These programs allow women entrepreneurs to work with mentors, share concerns and issues about work life balance, financial & organisational issues, risk mitigation and business strategy. Rolfe Classic BMW is delighted to be working with Rare Birds to support women entrepreneurs in Canberra and surrounding areas,” says Marty.
Applications to receive a scholarship are still open until August 10 to women from ACT and surrounds. Apply online at www.inspiringrarebirds.com/win
.jpg){kind=tracking}
