In business and on boards – Newfoundland and Labrador needs more women leaders.
Together, let's take action.
"Women are the largest reservoir of untapped talent in the world." - Hilary Clinton
Women hold extraordinary potential in impacting the business community. The Canadian Taskforce for Women’s Business Growth found that “a 20 percent increase in total revenues among majority female-owned enterprises will contribute an additional $2 billion per annual to the Canadian economy.”
Women in leadership will have a significant impact on the growth of our economy. According to the Catalyst Bottom Line study, companies with more women board directors outperform those with the fewest by 66% return on invested capital, 53% return on equity, and 42% return on sales.
Clearly, it is economically imperative to support the advancement of women in business and leadership roles.
We have yet to witness the full economic power of women.
The World Economic Forum has identified women as the fastest-growing economic force in the world today. However:
In business, Canadian women are starting businesses at twice the rate of men, and continue to face challenges in accessing growth capital and resources to scale up their businesses. They are also under-represented in procurement contracts, comprising less than 5% of all domestic and international suppliers to corporation and government.
On boards, women hold only 15.9% of board seats in corporate Canada according to the 2013 Catalyst Census: Financial Post 500 Women Board Directors. In fact, almost 40% of all FP500 companies have no women on their boards.