Courtney Ward, Investor and Head of Origination at growth capital investment firm BGF in the North West, argues that strengthening the North’s pipeline of female leaders will take more than just encouraging women to put themselves forward, with businesses, investors and boardrooms all having a role to play.
At BGF’s recent Women in Entrepreneurship & on Boards (WEB) Forum in Manchester, female founders and non-executive directors (NEDs) came together to discuss the changes required to strengthen the pipeline of women moving into senior leadership.
Three themes were consistently raised that can move the dial: creating more routes into board roles, increasing visibility of female role models and improving access to investment.
The solution goes beyond women ‘putting themselves out there’. Businesses, investors, chairs and established leaders all have a role to play in fostering the opportunities, networks and support that allow women to progress. In the North, this is both a leadership priority and a way to harness the talent already within its business community.
Getting more women onto boards
Women remain underrepresented at board level, typically waiting decades to attain non-exec roles, despite the broad experience and perspectives they can bring to businesses. For those considering their first NED role, building networks and gaining experience early can make a significant difference. In particular, seeking advisory roles and mentorship from current board members create routes into the boardroom.
Business leaders, chairs and existing NEDs have a role to play too. Employers can help their female executives pursue board positions alongside their day jobs and are often best placed to advocate for the experience women already have. Skills across finance, operations, technology, marketing or commercial strategy can bring value at board level. At the same time, experienced board members can make introductions, share knowledge and advise what boards are looking for.
All the same, greater female representation at board level should come from the right appointments, rather than simply to increase numbers. Prospective NEDs should understand the business, its leadership and what will be expected of them, while boards should appoint women because of their expertise and experience. The strongest appointments will be based on a clear fit between the individual, the business and the board.
Improving access to investment
Access to capital is an important part of scaling a business, yet female founders continue to face a significant funding gap. According to the Invest in Women Taskforce, female-founded businesses in the UK receive around 2% of annual venture capital funding. Meanwhile, all-male founding teams attract more than 80% of global VC investment.
This goes beyond appearances. Female entrepreneurs represent an untapped economic force, with research from the UK Government estimating that closing the gender gap in entrepreneurship could add £250 billion to the UK economy.
Improving funding outcomes is therefore closely linked to productivity and growth.
To close the gap, founders need to be clear about what investment should achieve and find investors who are the right fit. Equally, investors have a responsibility to examine whether established networks or assumptions are influencing who receives backing. According to the 2026 Gender Index Report, female investors are twice as likely to back female founders, so it is critical to include more women in investment decision-making roles.
As a female investor, I wholeheartedly believe in reducing the disparity between male and female founders. At BGF, we have deployed more than £750 million of growth capital into female-led businesses, representing 35% of all investments made to date. In 2025, we also pledged at least £300 million to female-powered businesses over the following five years.
Making female role models more visible
For the next generation of female leaders, seeing women succeed in senior executive and board roles can make them feel more attainable. There was a resounding sense among the women at BGF’s WEB event that this is an exciting time for women in business, not least because routes into leadership are feeling more visible, creating confidence among the talent pipeline.
The North already has a strong community of female founders, executives, investors and NEDs, but they need more prominent platforms. Role models inspire, offering insight into the decisions, challenges and career paths that have shaped their success. Established female leaders also have an important role to play in supporting those coming behind them. Sharing experiences, making introductions and opening networks can help women build the confidence and connections they need to progress.
Progress needs action from everyone
Strengthening the female leadership pipeline cannot sit with women alone. It requires action from business leaders, investors, chairs and existing board members, whatever their gender.
The message from BGF’s WEB Forum was clear: to bolster the leadership pipeline, encouraging female aspiration isn’t enough. More proactive support is required to create the opportunities to get them there. More women on boards, greater visibility of female role models and better access to investment are practical priorities that businesses across the North can act on now.
