Initially, the founder and CEO of This is Silk, a company specializing in silk skin, hair, and sleep solutions, doubted her ability to succeed as a 'mum entrepreneur.' Concerns about the impact on her family and finances also weighed on her mind after spending 15 years in criminal defense work and dealing with a rare skin condition.
To overcome these challenges, she joined the British Association of Women Entrepreneurs (BAWE), which significantly expanded her network. The practical advice and shared experiences within the association played a crucial role in her entrepreneurial journey.
Despite facing hurdles, her perseverance paid off, and This Is Silk is now the leading silk skincare company in the UK, earning her recognition as one of the 'Top 100 Female Entrepreneurs to Watch' in 2022.
The 2023 Alison Rose Review of Female Entrepreneurship indicates progress with an increased cash flow for business growth, with 43% reporting insufficient cash flow compared to 29% of male business owners, according to Bibby Financial Services’ SME Confidence Tracker in April 2023.
Gender bias remains prevalent, especially in the tech sector, where 87% of venture capital funding in Europe is secured by men-only founding teams. The funding raised by women-only teams has dwindled from 3% to 1% since 2018.
As businesses reach the three-year mark, the critical juncture for seeking capital approaches. Building solid connections and presenting a compelling business plan becomes essential, as these factors significantly influence funding opportunities.
Initiatives such as the Investing in Women Code have seen an increase in signatories, with 190 financial organizations supporting the cause. Angel investors and venture capital firms are avenues women entrepreneurs can explore, with campaigns like Women Backing Women engaging new angel investors and unlocking funding sources.
Organizations like BAWE, Buy Women Built, Female Founders Rise, and Focused for Business provide valuable support. However, mum entrepreneurs face an additional challenge – balancing the demands of a startup with childcare responsibilities. Childcare costs and the lack of robust support options for self-employed women compound these challenges.
Efforts from the government, angel investors, and venture firms to address childcare needs, such as Ada Ventures' backup childcare scheme, are steps in the right direction. Yet, Keay emphasizes that funding bias persists, especially as mothers often shift away from traditional work models, impacting finance applications.
In this landscape, mutual support among women entrepreneurs emerges as a powerful resource. Networking and sharing experiences can alleviate the loneliness and challenges of entrepreneurship. As Keay attests, the camaraderie found among women in business can be transformative, offering much-needed companionship on the entrepreneurial journey.
To overcome these challenges, she joined the British Association of Women Entrepreneurs (BAWE), which significantly expanded her network. The practical advice and shared experiences within the association played a crucial role in her entrepreneurial journey.
Despite facing hurdles, her perseverance paid off, and This Is Silk is now the leading silk skincare company in the UK, earning her recognition as one of the 'Top 100 Female Entrepreneurs to Watch' in 2022.
The 2023 Alison Rose Review of Female Entrepreneurship indicates progress with an increased cash flow for business growth, with 43% reporting insufficient cash flow compared to 29% of male business owners, according to Bibby Financial Services’ SME Confidence Tracker in April 2023.
Gender bias remains prevalent, especially in the tech sector, where 87% of venture capital funding in Europe is secured by men-only founding teams. The funding raised by women-only teams has dwindled from 3% to 1% since 2018.
As businesses reach the three-year mark, the critical juncture for seeking capital approaches. Building solid connections and presenting a compelling business plan becomes essential, as these factors significantly influence funding opportunities.
Initiatives such as the Investing in Women Code have seen an increase in signatories, with 190 financial organizations supporting the cause. Angel investors and venture capital firms are avenues women entrepreneurs can explore, with campaigns like Women Backing Women engaging new angel investors and unlocking funding sources.
Organizations like BAWE, Buy Women Built, Female Founders Rise, and Focused for Business provide valuable support. However, mum entrepreneurs face an additional challenge – balancing the demands of a startup with childcare responsibilities. Childcare costs and the lack of robust support options for self-employed women compound these challenges.
Efforts from the government, angel investors, and venture firms to address childcare needs, such as Ada Ventures' backup childcare scheme, are steps in the right direction. Yet, Keay emphasizes that funding bias persists, especially as mothers often shift away from traditional work models, impacting finance applications.
In this landscape, mutual support among women entrepreneurs emerges as a powerful resource. Networking and sharing experiences can alleviate the loneliness and challenges of entrepreneurship. As Keay attests, the camaraderie found among women in business can be transformative, offering much-needed companionship on the entrepreneurial journey.
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