International Women’s Day is a moment to reflect on the remarkable achievements of women across all sectors, and here at Asset Finance Solutions UK Ltd and Synergy Commercial Finance Ltd, we’re incredibly proud to champion the success of the women within our business and wider network. The number of women in the industry has undergone substantial transformation over the past two decades. Currently, major banks proudly report a gender distribution of 45-60%, reflecting more equitable representation of both men and women in their workforce.
As more women choose a career in finance and specifically broking, we’ve seen firsthand the impressive drive, resilience and expertise that female brokers bring.
So, why are women thriving in the world of finance broking? Let’s delve into some key drivers:
An Underserved Market Opportunity
Surveys with SMEs as late as 2020, reported that female business owners felt uncomfortable discussing their company finances with their bank. Many reported turning to friends and family for advice rather than seeking out professional help. Statistics in these surveys also reflected a higher loan decline rate for female business owners. The situation was acerbated by a lack of awareness of alternative finance options. As more female brokers have entered the industry often with a strong personal brand and high social visibility options for female business owners and the brokers that serve them, have become more apparent.
A Change in Perception
It is shocking to learn that in one 1946 public poll, only 35% of those surveyed thought men and women were equally intelligent, and of those who believed there was a difference, more thought men were the more competent sex. Today such outdated opinions are impossible to comprehend. Furthermore, solid data has been gathered that evidences female employees have excellent interpersonal skills that lead to positive workplace transformation, increased fairness and more productive teamwork.
Industry and Governmental Support
Initiatives such as the Women in Finance Charter and 30% Club which aim to promote a balanced workforce and focus on preparing mid-tier employees for senior roles have gained widespread commitment. Many firms are finding that having a more balanced senior team has delivered distinct advantages which have provided benefits for their customers, profitability and culture.
Positive Role Models
Alongside the market opportunity and the focus on producing companies that are as diverse as the customers they serve there have been many pioneering female executives and importantly supporting allies that have demonstrated that finance can be a rewarding career for all genders. Examples, of such role models in our industry include:
- Tara Waite, CEO of Premium Credit.
- Danielle Soto, Managing Director, Business Finance and Savings, Aldermore
- Astrid Michael – Head of Sales, Asset Finance, United Trust Bank
- Nova Everidge, Director, Metro Bank Asset Finance
- Yvonne Wiseman, Head of Broker, Propel Finance
Rewarding Opportunities
The rewards of a career in finance broking can be significant. The earning potential is directly tied to your effort and success. It’s an opportunity to build a sustainable business, where your hard work translates directly into financial gains and a sense of accomplishment.
At AFS and Synergy, we are committed to creating an inclusive environment where all brokers, regardless of gender, can reach their full potential. If you are interested in building a successful business within a supportive network, we encourage you to reach out and learn more.
