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esponsible Finance member, Fredericks Foundation, has been announced as a code signatory to the Investing in Women Code.
The Investing in Women Code is a commitment by financial services firms to improving female entrepreneurs’ access to tools, resources and finance. An HM Treasury announcement on 12 August 2019 revealed Fredericks Foundation and three other organisations have been approved as code signatories.
Duncan Parker, chief executive of Fredericks Foundation, said:
“Fredericks Foundation has been committed to equality since inception. In recent years though we have realised that to redress imbalances in society we need to be more proactive in our efforts. Though numbers have increased, women are still under-represented in enterprise. Moreover, women often have responsibilities that make traditional employment difficult, especially if under zero-hours contracts. In 2018 in the UK, lone parents with dependent children represented 25% of all families with dependent children, and women account for 91% of lone parents. Many women are also carers for elderly, sick or disabled family members.
“For some of these women, self-employment represents the best or only opportunity to work. That is why Fredericks Foundation has a loan fund focused specifically at female entrepreneurs so that support and capital is available for those wanting to create their own business and a life of financial independence. It was an easy decision therefore to become signatories to the Investing in Women Code as doing so is part of our DNA.”
What next?
Duncan discussed Fredericks Foundation’s Women’s Loan Fund in episode 3 of The Responsible Finance podcast in 2018. He also covered Fredericks Foundation’s work to reduce unconscious bias on lending panels, his background in international development, and a worry that excessive concern for profit in microfinance is leading some providers away from poor clients to serve better-off clients who want larger loans.
Listen to episode 3 in Apple Podcasts or click to play, below.