News

Boost for North East women entrepreneurs

(31 March 2006)

A new mentoring scheme launched by Durham Business School provides North East women entrepreneurs with a head start on the road to building successful businesses.

Mentoring Women into Business aims to support women from a variety of backgrounds and stages of business development, from pre-start to growth.

The entrepreneurs will be matched with male and female mentors and, with access to a new website, there is support available 24 hours a day for newcomers and experienced businesswomen alike.

The launch event at the Centre for Life in Newcastle on 28 March attracted 90 women entrepreneurs, some of whom had first-hand experience of running their own company.

As well as being an excellent networking opportunity, guests were introduced to an exclusive ‘virtual learning platform.’

The initiative was developed from the GLEAM (Graduate Learning of Entrepreneurship Accelerated through Mentoring) programme, which teaches the practice of business to graduates wanting to set up their own company. Dinah Bennett, programme director of Women Into the Network (WIN) and Wendy Parvin, programme director for the Enterprise Development Team at Durham Business School are leading the WIN mentoring programme, which is sponsored by One NorthEast.

A website has been developed to allow the entrepreneurs to access resources on a variety of business-related subjects, and includes a discussion forum for problem solving, support and sharing expertise.

Mentoring Women in Business has attracted such a good response from women in the region that more workshops are being set up to cope with the demand.

Currently only 12-14% of UK businesses are wholly or majority owned by women. With the government aiming for this figure to increase to 18-20% this year, the WIN mentoring programme is a very timely initiative.

“It is unclear why exactly mentoring works, but there is no doubt that it is one of the most effective ways to gain the knowledge needed to survive and thrive in business,” explained Wendy Parvin.

“One of the many advantages is that is a ‘two way street’ in which both the new entrepreneur and the experienced practitioner benefit from an exchange by passing on insights and inspirations in a trusting mentoring relationship.”

Dinah explained the benefits of the initiative: “There seems to be a generous instinct in people who have enjoyed success in business that makes them want to pass on the knowledge they have gained to the next generation of owner managers.

“In turn they are rewarded with fresh insights into their own business and benefit greatly from the energy and vibrancy of approach of newcomers.”

Wendy encouraged the women to draw on their experience by contributing their own doodles on the subject of mentoring onto a Graffiti Wall.

“WIN has been very successful at linking the women of the region so that they can share their huge wealth of enthusiasm and experience,” she explained.

“The mentoring process unlocks doors and offers the long-term survival and growth of new ventures. The Mentoring Women in Business programme will enable experienced entrepreneurs to use their expertise to boost the confidence of less experienced managers.

“I am sure that we will find the same spirit of generosity and enthusiasm from would-be mentors that characterises all WIN networking events.”