Breaking Barriers: Insights from Alison Rose DBE

The 2019 Alison Rose Review has been a cornerstone of FIRST’s vision and mission. Its findings have helped us clearly communicate the need for equitable support for underrepresented founders, and highlight how unlocking this untapped potential could add billions to the UK economy. On September 25th, our founder Charlotte attended a fireside chat with Alison, 6 years after the report went live, here's what she learnt:

Alison Rose DBE, Durham University alumna and the first female CEO of a global bank, authored the review and has spent more than 30 years in financial services, investments and advisory roles. Speaking about her journey and the state of play for women founders, she shared sharp reflections and practical advice.

Barriers remain real

• More than half of the UK population (57%) say they want to start a business, yet fear of failure hold many back.
• Funding is still the biggest hurdle: less than 2% of equity investment reaches women, and men are five times more likely to build £1 million+ revenue businesses.
• Women are often labelled “risk averse” by investors. In reality, they are risk aware - a crucial distinction that can be misunderstood and undervalued.
• Care responsibilities remain a silent drag. Women, more often than men, carry the primary load at home while trying to scale careers or ventures.

Why networks and support matter

• Mentoring and clear signposting are vital, yet many women don’t know where to turn.
• Accelerator programmes show promise: across 14 tracked accelerators, 80% of participants are still trading, with women making up nearly half.
• But these networks need joining up, mapped nationally, and made easier to access.
• A roadmap of real time funding opportunities depending on where you are at in your entrepreneurial journey needs to be mapped.

The investment picture

• Women typically pitch for less than men, even when their growth potential is the same.
• Diversity in VC funding is improving, but the pipeline into private equity and later-stage finance remains thin.
• Local angel groups and regional investors need to play a bigger role in levelling this gap.

Mindsets and messages

• Don’t give yourself a hard time: set boundaries and protect energy.
• Be crystal clear on your USP and growth plan.
• Passion counts - “do something you truly care about.”
• Above all, remember: you are the product. Your credibility, clarity, and belief in yourself shape how others back you.

Evidence of progress

• At the start of introducing leadership programmes, just 4% of women were represented at the top. In the time Alison was CEO the figure climbed to 40%, with profits rising from 4% to 17% in parallel.
• The lesson: inclusive leadership isn’t just right, it delivers results.

A bigger prize
Breaking systemic barriers matters for founders and for the wider economy. Inclusive entrepreneurship creates skilled jobs, fuels higher education pathways, and drives productivity. The North East, Alison argued, has a chance to lead by backing women and under-represented founders with long-term, joined-up investment.