Women founder funding advertising rules: UK compliance checklist

Start by asking what a founder will understand the communication to offer, who is meant to see it and what action follows. The route can change between a women-focused grant notice, an investment promotion and a paid comparison. Use the decision points below for copy aimed at women founders, then check the live version again before release.

If the message could invite investment activity

If a communication could invite or induce investment activity, classify its publisher, product, audience and intended response before writing further.

Editorial sign-off or a footer describing the page as information does not determine its status; assess the actual message and how it reaches readers before choosing an approval or exemption route.

Section 21 of the Financial Services and Markets Act 2000 restricts unauthorised investment communications unless an authorised person approves them or an exemption applies under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. Check a proposed approver on the Financial Services Register and assess the communication against FCA PERG 8, rather than treating its label as decisive.

Separate investment, credit, grant support and business advice from editorial information, then record any approval or exemption relied on. Apply the wider advertising rules to the actual message as well; a general grant-advertising check does not settle whether financial-promotion controls apply.

• Rule of thumb: decide the communication's status before selecting its audience or wording.

If a grant is described as women-focused

If a grant is described as women-only or women-focused, state the programme's own eligibility test and the lawful basis for the restriction. Include geography, business stage, sector and closing date, and reflect any published rule on mixed teams rather than implying that gender alone decides eligibility.

Sex is a protected characteristic under the Equality Act 2010, and Part 3 prohibits sex discrimination in providing services. A women-only programme therefore needs a lawful basis, which may include proportionate positive action under sections 158 and 159, the charity exception in section 193, or another specific exception; the Equality and Human Rights Commission publishes guidance on these provisions.

For example, an advert for Innovate UK's Women in Innovation competition should reproduce its published founder, ownership or leadership test and closing date, not promise guaranteed funding or imply that being a woman causes approval. Check the eligibility and timing checks against the official scheme record.

• Rule of thumb: describe the scheme's stated test, not an assumption about its applicants.

If the wording relies on a factual claim

If the copy states an amount, outcome, deadline, rate, fee or eligibility condition, connect that exact statement to current first-party evidence and the scheme's published claim process. Keep support for the particular claim, rather than relying on a broad description of the provider or programme.

For general substantiation, distinguish applications, approvals, contracted sums and cash received, define any success-rate period and denominator, avoid guaranteed-funding wording, check R&D tax credit and Employment Allowance statements against HMRC guidance, and retain the first-party evidence that supports each statement.

The CAP Code treats misleading advertising and unsupported objective claims as a compliance risk, including under rule 3.7 on evidence and clear qualifications; a disclaimer should not undo the headline. Use the CAP Code rules when drafting, and keep that check tied to the wording actually published.

• Rule of thumb: if the evidence does not support the exact claim, remove it or qualify it.

If readers are asked to compare funding types

If a page sets grants beside credit or investment, explain the material obligations and risks for each rather than presenting them as interchangeable. Keep unlike cost units separate, and include the conditions that affect what a reader may receive or have to repay.

When mentioning a government-backed Start Up Loan, say that it is personal. Explain interest, fees, security or guarantees for debt; ownership, rights, dilution and capital risk for equity; and contribution, eligible use, claims and delivery duties for a grant.

For SEIS or EIS, explain that shares are investments and tax relief depends on statutory conditions and the investor's circumstances; any best-case from rate needs eligibility and pricing context. Review the ASA financial-products section and, for authorised firms, FCA COBS 4, including its fair, clear and not misleading rule.

• Rule of thumb: explain the product, its cost and its conditions before inviting comparison.

If payment affects a recommendation or review

If a provider pays for promotion, sponsorship, placement or an affiliate relationship, disclose that influence where readers first encounter the affected comparison. Identify the provider universe and material exclusions, keep editorial order independent of payment, and say when the service receives money.

Testimonials should reflect genuine experiences, be used with permission and relate to a service the person used; disclose incentives and material relationships, and do not suppress a review solely because it is negative. Date reviews where terms may change, and check whether the relevant consumer-law scope applies to the audience and transaction.

The Consumer Protection from Unfair Trading Regulations 2008 prohibit misleading actions and omissions as unfair commercial practices; the Digital Markets, Competition and Consumers Act 2024 introduces a replacement regime with specific bans, including fake reviews and drip pricing. The CMA's unfair commercial practices guidance addresses these issues.

• Rule of thumb: put disclosure beside the recommendation or review it affects.

If the next click collects data or payment

If an advert leads to another page or action, follow the whole journey on the device and channel a founder is likely to use.

Continue through each link to the point where personal data or payment is requested, checking that a qualification has not disappeared, the product has not changed and a new fee has not appeared.

Check that labels and risks remain visible in screen-reader order and on small screens. Review targeting against the approval route and eligibility, preserve campaign settings, and exclude groups where required; a compliant page can still be sent to an audience outside its approved controls.

Keep the copy, landing page, audience, source pack, approvals, publication date and next review date together. Recheck volatile claims on release day, pause live adverts when rates, deadlines, provider status or schemes change, and log complaints or corrections against the precise version; obtain qualified financial-promotions and advertising review before publication.

• Rule of thumb: follow each route to the data or payment point, then verify the live claims again.