Geraldton to host public from targeting potential/established women business owners

22/8/94

A public forum targeting potential and established women business owners will be held in Geraldton on August 30, Minister for Women's Interests Cheryl Edwardes announced today.

The forum is one of a series planned for major regional areas by the Office of Women's Interests as part of its Women and Small Business program, which also involves the Department of Training, the Small Business Development Corporation and the Department of Commerce and Trade.

"The inaugural forum was held in Albany in June and was a great success," Mrs Edwardes said.

"Because many women report a lack of available finance as the main barrier they confronted when starting a business, the forums are designed to provide participants with information on how to access finance.

"The forum will bring together women and their local banks, insurance companies and other financial institutions to encourage interaction and achieve a better understanding of local needs and issues."

Mrs Edwardes said she did not agree with the findings of a recent survey which claimed women did not have greater problems than men in accessing business finance.

"It is my understanding the survey included only successful women business proprietors and did not take into account the many women who have been refused business finance," she said.

"Anecdotal evidence gathered by the Office of Women's Interests and agencies such as  L'Entrepereneuse - the Women's Business Owners' Association, indicates that women do have greater difficulty accessing start-up finance, despite the fact that their businesses have a higher long-term success rate than those owned by men.

"This is supported by studies such as 'The Gender Finance Gap' , released earlier this year by Borzi, Smythe Pty Limited."

Mrs Edwardes said the difficulties women experience in accessing finance to start or expand their businesses were one of the reasons she initiated the Women and Small Business strategy.

She said while women were moving into the small business sector in growing numbers many financial institutions had not altered their lending criteria to accommodate this new client group.

"Studies such as 'The Gender Finance Gap' have shown that women business proprietors often start with less equity and have fewer alternative sources of funding than their male counterparts," the Minister said.

"While this does not mean they are less likely to succeed, it does reduce their access to business funding, as these factors are considered when applications for finance are assessed."

Mrs Edwardes said she was delighted that the majority of the financial institutions asked to participate in the forums had agreed enthusiastically, which she hoped was indicative of changing attitudes towards women business owners.

Information on the Geraldton forum can be obtained from Ms Jill Pyvis at the Office of Women's Interest on (09) 264 1920 or Geraldton residents can also contact Mr Brian Keeble at the  Mid-West Enterprise Agency (099) 214 714.

Media contact:   Ann Paterson 09 264 1907