In the realm of business, size definitely plays a crucial role, and there is a growing call to recognize more women for their significant achievements. This perspective is at the heart of a new initiative led by two prominent entrepreneurs in collaboration with EY, the accounting firm.

Sam Smith, the founder of Finncap, and Rosaleen Blair, the founder of Alexander Mann Solutions (AMS), are joining forces to highlight women entrepreneurs who have successfully developed businesses with revenues exceeding £50 million, while also providing support to others striving to reach this milestone.

Smith, age 50, has dubbed this initiative “Superscalers.” She emphasizes the importance of achieving substantial business size, noting that it marks a stage where traditional growth facilitators, such as banks and private equity investors, begin to take genuine interest.

“Superscalers aims to amplify the number of individuals from underrepresented backgrounds who can scale their businesses beyond the £50 million threshold. Size and scale truly matter,” Smith explained. “Reaching around £50 million often indicates a readiness for an IPO, which catches the eye of private equity, and opens avenues for global expansion.”

To spotlight these accomplished women, Smith and Blair enlisted EY to help identify those who have founded or co-founded businesses surpassing the £50 million mark while maintaining female leadership. The initiative has recognized 45 women, such as Anne Boden, founder of Starling Bank, and Chrissie Rucker, founder of The White Company. “It’s a small number,” Smith noted, “but by showcasing them, we can begin to form networks for women to understand the challenges they face and learn from their experiences.”

To qualify for EY’s consideration, businesses needed to be established and led by women for a significant duration of their growth trajectory, with a female still at the helm or a predominantly female leadership team.

The identified entrepreneurs represent various sectors, with 20 involved in consumer products and services. Additionally, 26 of the businesses are located in London and the southeast of England. Collectively, their enterprises are estimated to have generated £6.9 billion in value, highlighted by Denise Coates’ Bet365, which alone contributed £3.4 billion in revenues for the fiscal year ending March 2023.

As part of the Superscalers initiative, Smith plans to invite women business owners with revenues starting at £1 million to participate in knowledge-sharing with their peers who are one step ahead.

“If we can support 100 women in growing their businesses beyond £50 million in the next six years, it would significantly impact the ecosystem. Small victories pave the way for more profound changes down the line. It inspires young girls in schools to aspire for success and encourages women to take that entrepreneurial leap,” Smith remarked.

She underscored the need for women in business to recognize that achieving £1 million in sales often presents the most formidable challenge, with progression becoming easier afterward. “The core message is this – the journey won’t ever be that difficult again,” she asserted. “Transitioning from nothing to that initial million entails numerous revenue cycles and can demand a significant time investment. Upon reaching £1 million, men are statistically five times more likely than women to scale past this threshold. Many halt their ambitions due to the difficulties faced, leaving them discouraged.”