According to a report released by the Taskforce for Women’s Business Growth, women owned 47% of Canada’s 1.6 million small and medium-sized enterprises in 2007. This translates to over $117 billion per year of activity in our country’s economy.
The Taskforce for Women’s Business Growth – a “non-partisan consortium of prominent women business owners, SME service agencies, academics, and industry associations” – has created a strategy to help support the growth of women-owned businesses. Their recommendations include:
- Create a national women-focused economic development strategy. This includes creating small business education targeted to women and holding an economic summit where female entrepreneurs can network and share economic best practices.
- Create programs to develop and increase involvement in foreign trade.
- Implement programs for female business owners to leverage supplier diversity.
- Support women entrepreneurs’ financial literacy and increase access to capital.
- Increase the adoption of technology in women-led firms through training and other incentives.
To learn more about the Taskforce for Women’s Business Growth and download the roundtable report, visit their website.