Regional leaders in the West Midlands have issued a powerful response to the Women and Equalities Select Committee’s new report into Female Entrepreneurship, released today, welcoming the call for systemic change but asserting that the region’s existing collaborative infrastructure is already proving high-impact targets are achievable.
The report’s findings, which cite a potential £250 billion prize for the UK economy if female-led businesses scale at the same rate as those led by men, coincide with the annual Birmingham Tech Week, where the spotlight is placed on the region’s innovation landscape.
Champion of female-powered enterprise, Tara Attfield-Tomes, comments: “The Committee’s report validates what The 51% Club community and Let’s Fund More Women have known all along: the time for piecemeal initiatives is over. Here in the West Midlands, we aren’t waiting for policy: through the West Midlands Female Enterprise Forum, which is powered by The 51% Club and supported by West Midlands Combined Authority through Business Growth West Midlands, we’re already uniting influential public and private sector leaders to drive the exact systemic change the report demands.
The report’s asks are strong, particularly the suggest introduction of a new Female Enterprise Investment Scheme and a national strategy for female entrepreneurship, with the introduction of a dedicated Minister and Office. The accountability within the report, especially on British Business Bank and Innovate UK – around stricter targets and reporting – would actually help us move the dial for women in business.”
As the founder of both The 51% Club, a leading community for female entrepreneurs, and the multi-award-winning visibility agency, EAST VILLAGE., Tara Attfield-Tomes sits at the centre of the UK’s female enterprise ecosystem. A key voice in policy advocacy, she co-chairs the Treasury-backed The Lifted Project and is a founding member of the influential Let’s Fund More Women movement. In recognition of her expertise and connectivity, Tara hosted a strategic roundtable that contributed direct evidence to the Women and Equalities Committee’s Female Entrepreneurship Report.
Rupert Lyle, Fund Principal at Future Planet Capital Regional, which manages the West Midlands Co-Investment Fund added: “The report is a powerful, timely call for systemic change, and we at Future Planet Capital Regional wholeheartedly welcome its ambition. We fully endorse the clear necessity for mandatory transparency from VC firms and strategic targets from the British Business Bank.
However, proposed 10% equity finance target should be the floor, not the ceiling. The West Midlands Co-Investment Fund, which I lead, is already proving what is possible, having backed a striking 50% female-led businesses so far. This demonstrates that focused, regional institutional capital and investor intent can close the gap immediately.
In my experience, female founders are often driven by purpose and passion to solve meaningful problems and will exit once they’ve achieved that goal, rather than seeking short-term capital gains. That longer-term vision delivers sustainable profit, stronger businesses and greater exit values, but over timeframes that don’t always align with current VC funding models. To bridge that gap, initiatives like our Fortuna Fellowship – in partnership with The 51% Club – are crucial regional blueprints, pairing catalytic capital with high-impact accelerator support. By combining essential top-down policy with hands-on regional delivery, the UK can quickly establish itself as a global leader in equitable venture investment.”
The Women and Equalities Committee, chaired by Labour MP Sarah Owen, has branded the upcoming Autumn Statement as a prime opportunity to unlock the £250 billion economic potential of female entrepreneurs.
Melissa Snover, Founder of Rem3dy Health – who has raised £20 million in investment – said: “It’s encouraging to see Parliament recognising that the UK can’t reach its full potential while half its entrepreneurial talent remains underfunded. As a Midlands-based founder who’s built advanced manufacturing and raised investment globally, I know innovation exists everywhere – it just needs access to thrive.
Tomorrow (Thursday 23 October), as part of Birmingham Tech Week, we’re hosting an event called: ‘Fast-Track Fundraising: Insider Insights, Strategy & 60-Second Q&As’, to share the honest realities of fundraising as a female founder from seed to Series A. We’ll cover the strategies, setbacks, and successes that shape the journey – with space for real candour and challenge; and this kind of knowledge-sharing is crucial for women looking to scale.”
Hosted by The Lifted Project, a Government-backed initiative to increase the capital deployed to high-growth women-led businesses in the region, the session brings together founders and investors from across the capital spectrum to uncover the realities of raising investment. Speakers include Melissa Snover and Rupert Lyle, alongside Maxine Laceby, CEO & Co-Founder of Absolute Collagen; Enrique Dupuy de Lôme, Director of VOI; and Serena Koivurinta, Venture Partner of Borski Fund.
The panel will provide practical insights into avoiding early-stage mistakes, building trusted investor relationships, and spotting red flags, proving that regional expertise is already generating deal flow and closing the gender gap. The session takes place on 23 October from 3.15pm at STEAMhouse, as part of the annual Scale-Up Summit.
