Women founded 8,255 new companies across the South West in 2022, according to new figures.
The total is a 10.7% increase on 2021, and is more than twice as many as were created in 2018.
Data from The Rose Review Progress Report 2023 showed female founders across the UK started more firms last year than ever before, with a total of 150,000 new companies.
The report is the latest edition after the Government commissioned NatWest chief executive Dame Alison Rose to conduct the first in 2019.
Ms Rose said: "It’s a testament to the resilience and entrepreneurialism of female founders that they are creating more companies than ever before, and the Rose Review is expanding its support for their work. Across the UK our partners have provided more than 800,000 opportunities for female entrepreneurs to get the help they need to thrive.
"In the coming year we will continue to provide fresh initiatives offering mentorship, guidance and inspiration for founders, alongside securing new commitments from financial services institutions to make it easier for female-led companies to access vital capital.
“By listening closely to entrepreneurs and acting on what they tell us, we will provide backing to help them grow their networks, secure finance and achieve their goals."
Small business minister Kevin Hollinrake added: “It’s great news over 150,000 women started new businesses last year – more than ever before - and seeing the number of businesses started by 16 to 25-year-olds increase by a quarter reaffirms the UK as a place of opportunity for all.
“We’re backing entrepreneurs and innovators all the way with a range of support. Our Start Up Loans scheme recently granted its 100,000th loan with 40% of awards going to women, and our Help to Grow Management Scheme is providing business leaders with the skills they need to succeed."
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