• government responds immediately, including new Code for Investing in Women to help increase female entrepreneur numbers by 600,000

• breaking down gender barriers could add billions to value of UK economy, review finds

Plans to increase the number of female entrepreneurs in Britain by 50% have been set out on International Women’s Day (Friday 8 March), after research found women face too many barriers to setting up a business.

The independent review – commissioned by the Treasury and headed up by Alison Rose, Deputy CEO of NatWest – identifies these barriers and makes recommendations on what can be done to overcome them.

The Rose Review finds that only one in three entrepreneurs are women, a gender gap equivalent to over one million fewer female entrepreneurs in the UK. Businesses that are run by women are on average half the size of male-led firms and far less likely to scale up to a £1 million turnover. The review finds that closing this gap between women and men could add an additional £250 billion in GVA to the UK economy, equivalent to 4 years of economic growth.

Ms Rose sets out a number of recommendations to release this economic potential, including greater transparency in funding given to women-run businesses by investors, and more courses teaching entrepreneurship in schools and colleges.

The government has responded with the creation a new Code for Investing in Women that will see banks and other financial institutions publish the gender split of the investments they make, showing if businesses are either male or female-led. The move will encourage financial institutions to adopt a set of best practices that will benefit female business owners across the country.

Deputy CEO of NatWest, Alison Rose, said:

The UK has one of the most vibrant entrepreneurial communities in the world, but only one in three of our entrepreneurs is female – we need to be more ambitious and find ways to unlock the huge untapped potential.

The launch today of the Rose Review of Female Entrepreneurship provides the routes for how we, business, public sector and government, can achieve this together. It is imperative that we support female entrepreneurs and capitalise on the missed opportunity which is significant, equating to more than one million missing businesses and £250 billion for the UK economy.

I am passionate about this cause, and was proud to have been asked to lead this Review. Some of the findings are stark but by shining a spotlight on the issues and outlining the barriers and opportunities, the aim is to support the full potential of every woman who has the entrepreneurial spirit and ambition to start or scale their business. Today is just the beginning.

Prime Minister Theresa May, who hosted a reception of female entrepreneurs and business leaders in Downing Street yesterday (7 March 2019) ahead of the Review, said:

I want to build a country where all women can go as far as their talents and hard work can take them. It’s fantastic that we already have over a million women-led businesses, and the gender pay gap is at a record low, but the findings in this Review show there is much further to go.

Alison and her team set out an ambitious path to break this glass ceiling so that we can realise the full potential of female entrepreneurs and boost economic growth. I am committed to real change in this area, starting with our action today to encourage more companies to look at the gender split of who they choose to invest in.

The Exchequer Secretary to the Treasury, Robert Jenrick, said:

Today’s businesswomen face too many barriers to setting up and scaling their enterprises. This doesn’t just hold back women, but every single one of us.

That’s why we will be implementing Alison’s recommendation for a new Code for banks and investors to give businesswomen greater access to finance, as part of our ambition to increase the number of female entrepreneurs by 50 % over the next ten years.

Together we can fire up Britain’s entrepreneurial spirit for the 21st Century and ensure no one is held back from realising their full potential.

The move is part of ambitious plans to increase the number of female entrepreneurs by 50% by 2030, matching leading major economies such as France, Canada and the US for gender equality.

Lloyds, UK Finance and UK Business Angels Association have already committed in principle to the Code and will be actively looking at the commitments over the coming months.

Ms Rose and Treasury Minister Robert Jenrick will launch the review findings and government response at NatWest’s business accelerator hub in Manchester, with leading members of the female business community in attendance.

As well as establishing the Code for Investing in Women, the government today announces they will also:

• improve online advice for all aspiring entrepreneurs and businesses
• welcome industry-led initiatives to set up a female-focused investment fund
• support an industry-led task force to drive more funding to female entrepreneurs
• back efforts to increase local businesses mentors for women and promote entrepreneurship among 15-18-year-old girls in schools

Pioneering female inventors have been recognised today for innovations including responsive wheelchair seating and a new digital app for diabetes as part of the 2019 Women in Innovation Awards.

The Awards, announced on International Women’s Day by Business Secretary Greg Clark, follows a search for female innovators who are tackling some of the biggest challenges facing society as set out in the government’s modern Industrial Strategy.

The winners will receive £50,000 each and a year-long package of bespoke support, coaching and mentoring.

The winners being awarded funding include:

• Sheana Yu, who is developing a device built into wheelchairs where movement is monitored and air cells are automatically inflated and deflated ensuring better posture and comfort
• Debbie Wake, who is offering diabetes patients a digital health app so they can monitor and receive advice for treatments ‘on the go’
• Agnes Czako, who is creating a state of the art home ventilation system to help reduce a home’s heat demand, resolve damp and condensation issues and cut energy bills. It uses ‘smart tech’ airbricks that use a simple open and shut mechanism where the brick regulates airflow and ensures the right level of ventilation
• Fanya Ismail, who has developed a chemical process called ‘sol-gel’ which produces solid materials from small molecules that will make disposable coffee cups waterproof without the need to use plastic

Business Secretary Greg Clark said:

I would like to congratulate all these women on developing inspiring and pioneering innovations to tackle the grand challenges we face as a society, from a new waterproof coating to cut down single use plastic, to helping us train mechanics with simulators.

This is our modern Industrial Strategy in action, backing the innovators and businesses of all sizes across the UK to grow – and develop the products, industries and sectors of tomorrow, boosting the UK economy with the skills and inventions we will need for the next generation.

Marking the outstanding contributions to innovation, Innovate UK has commissioned and installed commemorative plaques recognising each of the award holders where their innovation journey began, to inspire young innovators and communities alike.

Innovate UK Executive Chair Dr Ian Campbell said:

Innovate UK’s Women in Innovation Awards address a key barrier for diversity in innovation – a lack of female role models. By recognising their achievement with purple plaques, we are making sure that our 9 newly crowned winners inspire the next generation of female innovators.

Whether it’s inspiring young students showing a passion for STEM, someone with the spark of an idea, or an innovative business ready to be taken to the next level, the Women in Innovation 2019 campaign aims to drive long term, far reaching positive change.

Supporting female innovators is a key commitment of Innovate UK, and registrations for funding from female innovators on existing competitions have increased by 70% since 2016.

Previous winners have gone on to become ambassadors for Prince’s Trust and develop breakthrough innovations. These include:

• Carmen Hijosa, who has created a sustainable alternative to leather using pineapple leaf fibre
• Elena Dieckmann, whose company produces novel products – such as thermal packaging – using surplus feathers from the poultry industry
• Fanzi Down, who has developed a revolutionary chocolate moulding technique by industralising the process of displacement

This announcement comes on the first day of British Science Week 2019.

Research suggests that the proportion of UK women engaging in entrepreneurial activity is around half the level of men and that if participation was increased to equal levels, women-led SMEs could potentially contribute £180 billion to the UK economy by 2025.

2019 Women in Innovation Award Holders

• Agnes Czako of AirEx Technologies (inventor of smart technology for healthier homes)
• Alex Haslehurst of Vitrue Health (innovator in digital assessment of patient health)
• Cintia Kimura of KG Protech (inventor of smart simulation tech to train car mechanics of the future)
• Daniela Paredes of Gravity Sketch (inventor of pioneering virtual reality transportation design tool)
• Debbie Wake of MyWay Digital Health (creator of digital innovation to support diabetes patients)
• Dolores Sanders of Total Control Pro (inventor of pioneering tech to improve small business manufacturing)
• Fanya Ismail of Sol-Gel Coatings & Advanced Materials (inventor of innovative paper coating to eradicate single-use plastic)
• Jessica Bruce (nee Leitch) of Walk 3D (pioneer of innovative 3D analysis that helps older people to walk pain-free)
• Sheana Yu of Aergo (inventor of air-powered seating to improve patients’ posture)

Ministers across the Department for Transport (DfT) have written to industry leaders calling on them to take action to increase the availability of opportunities across the sector to women.

This action is the culmination of weeks of activity in which ministers across the Department for Transport have reached out to raise the issue of getting more women into the transport sector.

Drawing this together, the DfT announced that it will shortly be holding a major round-table to look into the barriers preventing women from joining the sector. It will seek to drive positive change similar to that seen within DfT over the last couple of years.

Currently, just 6% of pilots and 7% of train drivers are female, and women account for just 18% of the transport sector workforce overall. At the DfT, 2 of the 5 current ministers are women, as is the Permanent Secretary.

This year International Women’s Day is being celebrated on Friday 8 March, with the theme of #BalanceforBetter to drive gender balance across the world.

Transport Secretary Chris Grayling said:

It is unacceptable that out of every 100 airline pilots, only 6 are women and that for every 100 train drivers only 7 are women.

There are some good initiatives across all transport sectors but it is clear that much more needs to be done by the industry to provide opportunities for women, as we work with them to better understand the reasons behind poor female representation across the transport workforce.

The round-table I am announcing today will help industry develop plans to bring more women into the sector and help ensure the widest possible talent from across the whole of society is engaged and able to access the great careers the transport sector offers.

Department for Transport ministers have been highlighting this issue across the industry and are asking them to work towards profound change.

Baroness Sugg visited Stansted Airport last week to meet a group of children who heard from female pilots about careers in the aerospace industry, and has written to Airlines UK, UK airlines and the Airport Operators Association. She also recently spoke at the launch of the British Airline Pilots Association’s Baby on Board campaign on maternity pay provision for pilots.

Nusrat Ghani continues to motivate the maritime industry through the Women in Maritime Charter, which challenges companies to make progress on diversity, and last week signed the Women in Maritime Pledge alongside Hutchinson Ports. She is also supporting the Women in Maritime Taskforce and has today (March 8 2019) announced £100,000 for the 1851 Trust to support 10 roadshows to get young women interested in STEM subjects and maritime careers.

On Tuesday Chris Grayling spoke at the Airport Operators Association about the under-representation of women in the aviation industry, and has ensured that gender balance in the rail sector is part of the Williams Rail Review. Today he is announcing an industry-wide round-table which will explore the barriers for women to get into the transport sector.

Andrew Jones visited Doncaster on Thursday in the latest of many visits to where he has seen the work the rail industry is doing to improve female participation in the workforce, particularly at apprentice level, he has written to the Rail Delivery Group and Rail Supply Group encouraging them to do more at all levels of the industry.

Jesse Norman has reached out to the entire logistics sector by writing to the Chartered Institute of Logistics and Transport, the Freight Transport Association, the Institute of Couriers, and the Road Haulage Association calling for greater representation of women across the sector. The department is also working with a representative group from across the logistics industry to develop a year of events and guidance to help the sector improve its gender diversity.

More young women will be encouraged to embark on a career at sea thanks to new funding announced on International Women’s Day (8 March 2019) by Maritime Minister Nusrat Ghani.

Educational charity, the 1851 Trust, has been given £100,000 by the Department for Transport, to support the promotion of maritime careers.

This funding will go towards 10 roadshows around the UK where girls, aged 11 to 14, can speak to women already working in the sector about the full breadth of careers available before they make their GCSE choices.

Maritime Minister Nusrat Ghani said:

I am determined to ensure that the great career opportunities in the maritime industry are open to everyone, no matter their gender.

This International Women’s Day, I am delighted to support the 1851 Trust in linking up 1,500 young women with female role models and inspire them to consider a life at sea or on shore.

Having seen the work the Trust does encouraging young people to consider maritime careers, I am confident this series of roadshows will inspire and provide plenty of food for thought about the breadth of possibilities available in the industry.

The 1851 Trust, based in Portsmouth and the official charity of INEOS TEAM UK, is working to challenge young people’s perceptions of STEM (Science, Technology, Engineering and Maths) subjects and encourage them to choose these subjects in their studies.

Through their close links with the British Challenger for the 36th America’s Cup led by four-time Olympic gold medallist Sir Ben Ainslie, the charity uses professional sailing to get more young people excited about STEM careers.

Sir Ben Ainslie, Patron 1851 Trust & Team Principal INEOS TEAM UK, said:

We launched the 1851 Trust in 2014 as the Official Charity of the British America’s Cup Team with the aspiration to inspire young people about the cutting edge technology and innovation behind the campaign.

The work the Trust does to showcase STEM in such an exciting and positive light, in particular with girls, is fantastic and much needed. To now be delivering a nationwide STEM programme for the Department for Transport is testament to their high quality education offering.

As a professional sports team, we truly hope to inspire not just the next generation of America’s Cup sailors, but engineers and innovators alike.

Today’s funding announcement follows the launch of Maritime 2050, which sets out the long-term vision for the future of the UK maritime sector. The department is also represented on the Women in Maritime Taskforce, a joint initiative between government and industry, to promote STEM among young women and address gender balance in the maritime sector.

Affording diplomatic protection in Nazanin’s case represents formal recognition by the British Government that her treatment fails to meet Iran’s obligations under International law and elevates it to a formal State to State issue.

The legal proceedings brought against Nazanin failed to meet international standards and during her time in prison, Nazanin has periodically been denied access to the medical care recommended by doctors.

Diplomatic protection is a rarely-used mechanism through which a state can seek protection on behalf of one of its nationals if it believes they have been wronged by another state.

Foreign Secretary Jeremy Hunt said:

Nazanin Zaghari-Ratcliffe is an innocent woman who has spent the last three years in an Iranian jail, separated from her daughter and husband. We have been working hard to secure her release but despite repeated efforts have not been successful. We have not even been able to secure her the medical treatment she urgently needs despite assurances to the contrary.

So I have today decided that the UK will take a step that is extremely unusual and exercise diplomatic protection. This represents formal recognition by the British Government that her treatment fails to meet Iran’s obligations under international law and elevates it to a formal State to State issue.

I have not taken this decision lightly. I have considered the unacceptable treatment Nazanin has received over three years, including not just lack of access to medical treatment but also lack of due process in the proceedings brought against her. My decision is an important diplomatic step which signals to Tehran that its behaviour is totally wrong. It is unlikely to be a magic wand that leads to an overnight result. But it demonstrates to the whole world that Nazanin is innocent and the UK will not stand by when one of its citizens is treated so unjustly.

Iran is one of the oldest civilisations in the world. I know there are many in Iran who understand the unjustness of this situation. No government should use innocent individuals as pawns for diplomatic leverage so I call on Iran to release this innocent woman so she can be reunited with her family.

Mr Hunt informed in advance Nazanin’s husband Richard to explain his decision. The Foreign Office continues to work to support all our dual national detainees in Iran.

Foreign Secretary statement on Nazanin

• Diplomatic protection is a mechanism under international law according to which a State may seek to secure reparation for injury to one of its nationals, on the basis that the second State has committed an internationally wrongful act against the national. It is the right of the State to raise with another State the question of treatment of one of its nationals by that other State and to call that other State to account on the international plane.

• Diplomatic protection is distinct from diplomatic immunity, which concerns the status of those accredited as diplomats in another state. It is also distinct from consular assistance where a state provides assistance to its nationals in another state;

• The general threshold conditions required in order for a State to consider whether or not to exercise diplomatic protection are generally accepted to be: (i) the commission of an internationally wrongful act; (ii) the exhaustion of local remedies; and (iii) proof of nationality, or, in the case of a dual national, predominant nationality. We assess that Mrs Zaghari-Ratcliffe meets these conditions;

• Even if the conditions for a State to consider whether or not to exercise diplomatic protection are met, there is no duty to provide it. It is an exercise of the Crown’s discretion and a decision to be taken by the Foreign Secretary, taking into account all relevant considerations in the round;

• Diplomatic protection is rare, and the UK has previously stated that it will only exceptionally exercise diplomatic protection in the case of a dual national where the respondent state is the state of second nationality.

• Diplomatic protection does not automatically dictate any particular course of action. In this case, the Government’s steps will be those which in all the circumstances are most likely to secure the objective of Mrs Zaghari-Ratcliffe’s release;

• Diplomatic protection is a rarely used tool; the UK has not used it in recent memory.