London’s female entrepreneurs boosted by £100m of Start Up Loans
Press release
British Business Bank programme celebrates milestone as it provides more than 10,000 loans to London-based, female-owned businesses
Female entrepreneurs based in London have benefited from £100m of finance to start and grow their businesses under the British Business Bank’s Start Up Loans programme. The programme has delivered 10,853 loans in total, supporting approximately 10,000 businesses*.
London’s entrepreneurial hotspots
The top five London Parliamentary constituencies for Start Up Loans finance delivered to female entrepreneurs are:
- Hackney South and Shoreditch - £2.86m
- Lewisham East - £2.05m
- Lewisham North - £2.03m
- Tottenham - £2.02m
- Chelsea and Fulham - £2.00m
Female business owners in North London received a total of £57.5m across 6,213 loans, while female business owners across South London received a total of £43m across 4,640 loans.
58 of London's 75 Parliamentary constituencies each received a total of £1m or more in Start Up Loan funding for female entrepreneurs.
When adjusting for population size, the most entrepreneurial areas of London, based on the volume of Start Up Loans received by female entrepreneurs, are as follows:
- Hackney South and Shoreditch (266 loans per 100,000 residents)
- Lewisham North (229)
- Lewisham East (224)
- Hackney North and Stoke Newington (220)
- Tottenham (207)
Supporting underrepresented groups
Besides supporting female founders, Start Up Loans has also helped other underrepresented groups access the finance needed to start or grow an early-stage business. 48% of the Start Up Loans to London female founders have been delivered to entrepreneurs from ethnic minority groups, while 24% of recipients aged 18-24 were categorised as not in employment, education or training (NEET) before they started their business.
Start Up Loan was instrumental in founding TAGALONG Baby
Luliia Carey founded TAGALONG Baby, a London-based premium baby and toddler carrier brand, with support from a Start Up Loan.
Luliia trained as an interior designer before building her own business in the beauty industry. Becoming a mum in 2022 gave her a new perspective and inspired her to create something that could genuinely make life easier for other families.
The Start Up Loan enabled Iuliia to produce her first batch of baby carriers, turning years of product development into a real product ready for families.
It also allowed her to complete independent testing through an accredited laboratory to ensure TAGALONG Baby Sling Carriers would meet recognised European and American safety standards.
In addition, the loan covered essential compliance costs, including technical documentation, safety instructions, labels and regulatory requirements, plus design protection.
The funding also supported branding, packaging and preparing the business for launch.
Luliia commented:
The Start Up Loan didn’t just help fund a new product. It helped turn an idea into a trusted brand built on safety, quality and thoughtful design.
Becoming a mum in 2022 completely changed my perspective on life. Like many parents, my priorities shifted overnight, and I experienced first-hand both the joys and the challenges of everyday parenting.
As I started using baby carriers, I realised that although there are many great products available, I couldn’t find one that truly combined comfort, practicality, safety and timeless style.
I didn’t set out to create just another baby carrier. I set out to solve the problems I experienced as a mother.
Another London female founder to have benefited from a Start Up Loan is Yandis Ying, founder of Dot Dot Tea.
Yandis added:
The Start Up Loans programme gave us the confidence and early funding to build Dot Dot Bubble Tea into the UK's first dedicated bubble tea brewery. Today, we're stocked by retailers including Harrods, Selfridges, Costco, Planet Organic, Virgin Atlantic and the University of Cambridge. Access to finance at the right stage can make a transformational difference for ambitious founders, particularly female entrepreneurs.
Howard Dawber OBE, Deputy Mayor for Business and Growth, said:
London’s women entrepreneurs are driving growth in communities right across the capital, so it’s fantastic to see £100 million in Start Up Loans delivered to women-led businesses in London.
Access to finance can be a major barrier for entrepreneurs, particularly those from underrepresented backgrounds. That’s why programmes like Start Up Loans are so important, helping people turn ambitious ideas into successful businesses.
The Mayor is committed to supporting businesses to start, grow and succeed in every part of London. This includes Grow London Local Money, a new service helping small business owners understand and access a wider range of traditional and non-traditional funding options.
Louise McCoy, Managing Director, Start Up Loans Products at the British Business Bank commented:
It’s incredible to reach this £100m lending milestone for delivering Start Up Loans to London’s female business leaders. Entrepreneurial activity is bubbling away in every area and every community across London, and business owners like Iuliia brilliantly demonstrate the drive and determination of enterprising female Londoners to establish innovative and successful businesses.
However, we’re determined to provide even more support to London based entrepreneurs than ever before. Therefore, we’ve expanded access to Start Up Loans, so now businesses that have been trading for up to five years can apply, opening the opportunity for thousands more female-led businesses in London to start and grow with support from Start Up Loans.
*The total volume of first loans to female founders in London is 9,972, meaning it excludes second loans from the total. It is the most accurate measure for approximating how many businesses the finance has supported.
**Assigned based on which side of the Thames the majority of the constituency is located.
Further Information
If you are a journalist and have a media enquiry, please contact [email protected].
Notes to editors
Constituency-level data
| Number of Loans | Total Value of Loans | Parliamentary Constituency | North or South London** |
|---|---|---|---|
| 314 | £2,859,741.32 | Hackney South and Shoreditch | North |
| 237 | £2,050,037.99 | Lewisham East | South |
| 254 | £2,028,281.25 | Lewisham North | South |
| 251 | £2,022,446.67 | Tottenham | North |
| 214 | £2,000,495.00 | Chelsea and Fulham | South |
| 251 | £1,951,983.00 | Hackney North and Stoke Newington | North |
| 199 | £1,928,734.00 | Greenwich and Woolwich | South |
| 230 | £1,896,564.13 | Croydon West | South |
| 202 | £1,868,226.00 | Queen's Park and Maida Vale | North |
| 222 | £1,845,804.91 | Dulwich and West Norwood | South |
| 190 | £1,795,084.78 | Streatham and Croydon North | South |
| 170 | £1,792,722.16 | Kensington and Bayswater | North |
| 183 | £1,778,431.12 | Hendon | North |
| 165 | £1,769,748.00 | Poplar and Limehouse | North |
| 200 | £1,764,909.00 | West Ham and Beckton | North |
| 214 | £1,706,531.06 | Lewisham West and East Dulwich | South |
| 198 | £1,700,872.19 | Islington South and Finsbury | North |
| 162 | £1,640,885.69 | Finchley and Golders Green | North |
| 201 | £1,591,442.18 | Peckham | South |
| 171 | £1,572,713.19 | Hampstead and Highgate | North |
| 174 | £1,554,241.00 | Ealing Central and Acton | North |
| 173 | £1,539,015.47 | Bermondsey and Old Southwark | South |
| 152 | £1,513,628.00 | Hammersmith and Chiswick | North |
| 175 | £1,512,593.21 | Erith and Thamesmead | South |
| 196 | £1,505,776.00 | Enfield North | North |
| 136 | £1,495,507.00 | Putney | South |
| 167 | £1,488,822.81 | Southgate and Wood Green | North |
| 145 | £1,462,663.94 | Battersea | South |
| 164 | £1,452,084.64 | Barking | North |
| 154 | £1,414,726.00 | Beckenham and Penge | South |
| 120 | £1,392,135.00 | Wimbledon | South |
| 165 | £1,389,964.00 | Islington North | North |
| 154 | £1,380,335.00 | Walthamstow | North |
| 118 | £1,379,838.22 | Ealing North | North |
| 156 | £1,378,794.51 | Clapham and Brixton Hill | South |
| 165 | £1,367,340.00 | Stratford and Bow | North |
| 124 | £1,356,340.00 | Brentford and Isleworth | North |
| 132 | £1,342,759.00 | Cities of London and Westminster | North |
| 165 | £1,340,020.00 | Edmonton and Winchmore Hill | North |
| 127 | £1,326,239.00 | Mitcham and Morden | South |
| 127 | £1,262,330.04 | Tooting | South |
| 110 | £1,257,671.23 | Richmond Park | South |
| 157 | £1,204,851.00 | Vauxhall and Camberwell Green | South |
| 114 | £1,198,200.00 | Brent West | North |
| 122 | £1,196,268.00 | Chipping Barnet | North |
| 134 | £1,176,085.00 | Brent East | North |
| 106 | £1,175,945.03 | Twickenham | South |
| 106 | £1,150,931.01 | Kingston and Surbiton | South |
| 143 | £1,150,017.00 | Hornsey and Friern Barnet | North |
| 113 | £1,117,198.00 | Croydon South | South |
| 117 | £1,113,448.00 | Ilford North | North |
| 133 | £1,080,778.00 | Holborn and St Pancras | North |
| 119 | £1,059,985.00 | Bethnal Green and Stepney | North |
| 102 | £1,056,750.00 | Harrow West | North |
| 116 | £1,045,924.40 | East Ham | North |
| 99 | £1,041,150.00 | Bromley and Biggin Hill | South |
| 146 | £1,036,144.46 | Croydon East | South |
| 107 | £1,010,852.93 | Leyton and Wanstead | North |
| 103 | £998,902.00 | Dagenham and Rainham | North |
| 104 | £958,699.00 | Chingford and Woodford Green | North |
| 91 | £948,358.01 | Hayes and Harlington | North |
| 104 | £941,400.00 | Eltham and Chislehurst | South |
| 79 | £913,450.00 | Ruislip, Northwood and Pinner | North |
| 81 | £910,850.00 | Harrow East | North |
| 85 | £880,470.00 | Ealing Southall | North |
| 88 | £879,040.00 | Carshalton and Wallington | South |
| 85 | £834,058.26 | Ilford South | North |
| 66 | £825,045.00 | Old Bexley and Sidcup | South |
| 84 | £792,374.00 | Uxbridge and South Ruislip | North |
| 72 | £749,925.00 | Orpington | South |
| 66 | £729,709.00 | Sutton and Cheam | South |
| 87 | £722,300.00 | Romford | North |
| 61 | £681,048.00 | Bexleyheath and Crayford | South |
| 64 | £677,127.37 | Hornchurch and Upminster | North |
| 72 | £667,007.00 | Feltham and Heston | South |
**Assigned based on which side of the Thames the majority of the constituency is located.
Source: startuploans.co.uk
About Start Up Loans
The Start Up Loans programme provides personal loans for business purposes of up to £25,000 at a fixed interest rate per annum and offers free dedicated mentoring and support to each business. Eligibility for a first Start Up Loan has been extended to businesses that have been trading for up to 60 months.
The primary aim of the Start Up Loans programme is to ensure that viable start-ups and early-stage businesses have access to the finance and support they need in order to thrive. A network of Business Support Partner organisations supports applicants in all regions and industries throughout the UK. The Start Up Loans programme is not designed to generate a commercial profit. Capital payments together with the interest are recycled to help meet increasing demands for finance.
Free guides on a range of subjects related to starting a business are available on the Start Up Loans website. You can find recent media press releases here.
The funding for the Start Up Loans programme is provided by the Department for Business and Trade (DBT). The Start Up Loans programme is operated by The Start-Up Loans Company, a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at Steel City House, West Street, Sheffield, S1 2GQ. The Start-Up Loans Company is a wholly owned subsidiary of British Business Bank plc which is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk.
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