Mortgage and Finance Association of Australia's (MFAA) She Means Business program kicks off with a bang.
Launched in June 2025, the 12-month pilot is designed to help female small business owners in Australia's mortgage and finance broking industry strengthen their businesses, up their game.
"The opportunity is really focused around equipping business owners running a mortgage or finance business, building career pathways, and attracting talent and more women into the industry," Melanie Kafka, executive member experience and partnerships at MFAA, told Australian Broker. "So we're supporting them with skills and networks that support growth."
The She Means Business program, launched in collaboration with government grants and a consulting firm, also includes parallel tech and energy sector programs. The mortgage and finance track was a natural fit, Kafka said, with women making up just 27% of Australia's broker workforce, a figure that has remained largely unchanged since 2018, even as brokers have grown their market share to write 81% of all new residential home loans nationwide.
"And that number has increased significantly since the 2018 levels," Kafka said. "One of the things that we see and that we regularly speak about across the industry is that women remain underrepresented as brokers and as business owners.
"Running a small business is challenging for anyone," she continued. "There are challenges across the board. But we also want to have an industry that represents the consumers that we serve. So we need to continue to look at a diverse balance in terms of supporting how we support clients, as well. It's not just about diversity. It's about ensuring the profession attracts and retains the best talent. And as the profession continues to grow, we need more pathways and to encourage women to build long and successful careers because the balance [of family and career] does become challenging.
"This program complements the broader work that we're doing at the MFA supporting women in businesses. It's not a standalone initiative, just part of building a stronger, more sustainable profession," the executive added.
For the first edition of the MFAA's She Means Business program, nine small business owners in Australia's finance and mortgage broking sectors were selected.
Participants worked one-on-one with the consulting firm and the MFAA, beginning with an in-person session followed by monthly virtual check-ins to develop individualised growth plans. Topics included confidence building, media training, leadership, mentoring, capability building, and supporting work-life balance.
"Many of the participants reported back to us that they had an opportunity to build confidence," Kafka said. "It gave them the platform and the option to implement real change within their business.
"And the program provides that community feel because we know that broking is one of those professions where people love to share and love to work with each other. The program has created quite a bit of momentum in terms of the participants being able to leverage each other and build on each other," she continued. "One of the strongest outcomes we've seen is participants recognising that they're not alone in some of the challenges that they face. Because we hear business owners say that the profession can be a lonely place. So having that recognition that you're not alone and that you're facing similar challenges, I think is really key as well."
Tripti Goyal, founder, director and broker of Melbourne-based brokerage Trusted Financial Choice and one of the inaugural members, said the program helped increase her confidence.
"One of the biggest things this program gave me was the courage to step forward and be visible," Goyal explained. "Not because I have all the answers, but because my visibility might create possibilities for someone else. When women see other women leading businesses, working in finance and creating opportunities for others, it changes what they believe is possible. That's how lasting change begins."
Kafka added that: "The opportunity came together through a relationship we have with the Council of Small Business Organisations of Australia (COSBOA), as well. The pilot demonstrated what can happen when industry and government and business work together with a shared purpose."
COSBOA Chief Executive Officer Skye Cappuccio said the results of the pilot speak for themselves.
"Working alongside organisations like MFAA has allowed us to connect with businesses that are committed to building more inclusive workplaces and supporting more women to thrive," she said. "We’re excited to build on that momentum as the next round of the program begins. By expanding the program, we’ll help more businesses unlock the benefits of diverse leadership while creating new opportunities for women across Australia.”
Kafka said the MFAA is using the insights and lessons from the pilot to shape the program's next phase, which is slated to begin sometime in the spring. While details are still being finalised — including the rollout timeline and participant numbers — certain requirements have already been locked in: applicants must be MFAA members and small business owners.
"It's really continuing to underpin how we help more women build successful businesses, grow leadership capability and contribute to a stronger mortgage and finance broking profession that's reflective of the community that we serve," she explained."
