Taskforce for Women’s Business Growth to support Canada’s female entrepreneurs

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:

  1. 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.
  2. Create programs to develop and increase involvement in foreign trade.
  3. Implement programs for female business owners to leverage supplier diversity.
  4. Support women entrepreneurs’ financial literacy and increase access to capital.
  5. Increase the adoption of technology in women-led firms through training and other incentives.
A 20% increase in total revenues from women-owned businesses can translate to a $2 billion per year increase in Canadian economic activity, according to the report. It’s a corner of Canada’s business world with outstanding potential.

To learn more about the Taskforce for Women’s Business Growth and download the roundtable report, visit their website.

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