Small and medium-sized businesses owned by females have little or no debt and experienced a 40% rise in enquiries for business advice, according to research conducted by Prowess.

However, the survey also revealed that the reduction of the availability of bank finance, alongside reduced government funding has had a significant impact on their firms.

"Women are showing incredible fighting spirit and are at their most entrepreneurial in times of economic change. They have led the diversification of the rural economy over the last 20 years and they will do it again," said Erika Watson, Executive Director of Prowess.

Prowess, which supports female entrepreneurs who wish to start and growing their own businesses, is calling on the government to remove the blockage which is being caused by the banks preventing renewals of and extensions to overdrafts and loans and to design programmes of support to better reflect the female businesses affected by the the recession.