Bridging the Gender Finance Gap: Exploring Female Entrepreneurs' Participation in Crowdfunding in the UK and Ireland

Summary

The number of women engaging in entrepreneurial activities has risen substantially in recent years. Female entrepreneurs now play a critical role in driving economic growth and development across many countries, including the United Kingdom and Ireland (GEM, 2023). However, this growth in female entrepreneurship has not been matched by a corresponding increase in access to finance. Extensive research indicates that female entrepreneurs continue to face significant gender-specific barriers to securing funding necessary for growth (Brush et al., 2017; Coleman and Robb, 2011; Cowling et al., 2020; Kwapisz and Hechavarria, 2018; Naegels et al., 2018).

Technological advancements in recent years have led to the emergence of new forms of entrepreneurial finance, with crowdfunding being a key example. While various models exist - donation-based, reward-based, lending-based and equity-based - crowdfunding in essence, enables entrepreneurs to raise funds from a large number of individuals, typically through an online platform (Mollick, 2014). It simplifies interactions between entrepreneurs and funders by shifting funding decisions from a small, homogenous group of experts to a broad, diverse pool of potential contributors (Seerwah, 2022). Consequently, crowdfunding has the potential to promote gender equality in finance by reducing the barriers and biases that female entrepreneurs often face when seeking traditional sources of funding.

Despite this potential, understanding of female participation in crowdfunding - both from demand and supply side perspectives and across different contexts - remains limited (Leitch et al., 2018; Loane et al., 2018; Serwaah, 2022). Focusing on the United Kingdom and Ireland and adopting a mixed methodology, this research will help address this critical knowledge gap by 1) assessing the awareness and use of crowdfunding among female entrepreneurs, 2) investigating key motivations, enablers and barriers influencing female participation in crowdfunding and 3) examining the experiences and outcomes/consequences of female engagement with crowdfunding.

Essential criteria

Applicants should hold, or expect to obtain, a First or Upper Second Class Honours Degree in a subject relevant to the proposed area of study.

We may also consider applications from those who hold equivalent qualifications, for example, a Lower Second Class Honours Degree plus a Master’s Degree with Distinction.

In exceptional circumstances, the University may consider a portfolio of evidence from applicants who have appropriate professional experience which is equivalent to the learning outcomes of an Honours degree in lieu of academic qualifications.

• A comprehensive and articulate personal statement
• Research proposal of 2000 words detailing aims, objectives, milestones and methodology of the project

Desirable Criteria

If the University receives a large number of applicants for the project, the following desirable criteria may be applied to shortlist applicants for interview.

• First Class Honours (1st) Degree
• Masters at 70%

Equal Opportunities

The University is an equal opportunities employer and welcomes applicants from all sections of the community, particularly from those with disabilities.

Appointment will be made on merit.

Funding and eligibility

This project is funded by:

• Department for the Economy (DfE)

These scholarships will cover tuition fees and provide a maintenance allowance of £19,237 (tbc) per annum for three years* (subject to satisfactory academic performance).  A Research Training Support Grant (RTSG) of £900 per annum is also available.

To be eligible for these scholarships, applicants must meet the following criteria:

• Be a UK National, or

• Have settled status, or

• Have pre-settled status, or

• Have indefinite leave to remain or enter, or

• be an Irish National

Applicants should also meet the residency criteria which requires that they have lived in the EEA, Switzerland, the UK or Gibraltar for at least the three years preceding the start date of the research degree programme.

Applicants who already hold a doctoral degree or who have been registered on a programme of research leading to the award of a doctoral degree on a full-time basis for more than one year (or part-time equivalent) are NOT eligible to apply for an award.

*Part time PhD scholarships may be available, based on 0.5 of the full time rate, and will require a six year registration period (individual project advertisements will note where part time options apply).

Due consideration should be given to financing your studies.