HSBC to lend US$1 billion to women-led businesses over next 12 months

Name: Afghan women take risks driving in Herat after the Taliban restricts new licences
Uploaded: 2022-05-12T12:25:10.000Z
Duration: 1 min 54 s
Description: Afghan women take risks driving in Herat after the Taliban restricts new licences

HSBC announces new Female Entrepreneur Fund to assist women-led start-ups in Hong Kong and 10 other markets

Fund is part of the bank’s ‘HSBC Roar’ initiative, which offers bespoke advisory services and other opportunities for women-owned businesses

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A HSBC branch on Pedder Street in Hong Kong’s Central business district. The fund will be open to both new and existing customers in Britain, the United States, Argentina, the Channel Islands, Egypt, Indonesia, Malaysia, Mexico, Singapore and Uruguay as well. Photo: Nora Tam

Chad Brayin London

Published: 8:25pm, 12 May 2022Updated: 10:08pm, 12 May 2022

HSBC said on Thursday that it plans to lend US$1 billion to women-owned businesses through its newly launched Female Entrepreneur Fund in Hong Kong and 10 other markets over the next 12 months.

The fund is part of the bank’s “HSBC Roar” initiative, which provides networking, masterclass and bespoke advisory services for women-led start-ups.

“As the city continues to rebuild from the impact of the pandemic, small and medium-sized businesses will continue to be the bedrock on which our economies and local communities are built, meaning we need to ensure that those led by women are given the support to fulfil their full potential,” said Christina Ong, HSBC’s head of business banking, Hong Kong.

The Female Entrepreneur Fund will be open to both new and existing customers in Hong Kong, Britain and the United States, as well as Argentina, the Channel Islands, Egypt, Indonesia, Malaysia, Mexico, Singapore and Uruguay.

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Afghan women take risks driving in Herat after the Taliban restricts new licences

More than a third of women entrepreneurs experienced gender bias when raising capital and women-led businesses secured 5 per cent less capital on average globally, according to a 2019 report by HSBC’s private bank.