All-female founded businesses in Northern Ireland received just 2% of total equity funding in 2024

New data commissioned by the Invest in Women Taskforce reveals that all-female founded businesses in Northern Ireland received just £2.5 million (2%) of the nation’s total equity funding in 2024. In comparison, all male teams secured £93.7 million (79%).

This data marks a decline from 2023, when all-female teams received 4% of equity funding. Yet this drop comes in sharp contrast to Northern Ireland’s performance in producing high-growth female-led businesses. Women make up 13.3% of high growth founders in Northern Ireland – nearly double the UK average proportion.

While entrepreneurial activity overall is lower in the nation, it is punching above its weight when it comes to the proportion of women-led firms – underscoring the strength and potential of the region’s female entrepreneurial pipeline. Despite this, Northern Ireland as a whole attracted just 0.8% of the UK’s £15.5 billion total equity investment in 2024, pointing to continued regional disparities.

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The data formed the basis of a roundtable supported by the Department for the Economy at Stormont on 16th June, bringing together representatives from across government, the British Business Bank, Financial Services, investment and business to discuss workable solutions. The Taskforce Co-Chairs, multi-exit entrepreneur Debbie Wosskow and Head of Business Banking at Barclays, Hannah Bernard, spoke at the event alongside the Minister for the Economy.

Dr Caoimhe Archibald MLA, Minister for the Economy, said: “Inclusion is central to our economic success. By working together to support female founders, we can unlock untapped potential, break down systemic barriers to finance, and ensure women entrepreneurs have equal access to the capital they need to thrive.”

Debbie Wosskow, Co-Chair of the Invest in Women Taskforce, said: “While I’m thrilled to see such a strong pipeline of incredible female talent seeking investment in Northern Ireland, it’s unacceptable that this isn’t matched by the reality of funding. A 2% figure is paltry, and it’s compounded by the fact that our investment ecosystem is still far too London-centric. The system has to change. These sobering figures prove that we need far more local funding that can be invested in what is clearly a promising entrepreneurial landscape, deployed by female investors – that’s the only way we’re going to reverse this trend.”

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Hannah Bernard, Co-Chair of the Invest in Women Taskforce and Head of Business Banking at Barclays added: "Wherever we look, the figures underscore the vast challenge we have ahead. There’s still a significant unrealised economic opportunity offered by female founders. If women were to start and scale businesses at the same rate as men, it could add £250 bn to the UK economy. There is a female entrepreneurial sector in Northern Ireland primed to be developed, and we are missing a trick if that is not leveraged.”