ST. JOHN’S, Nov. 1, 2016 –The Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE) will be hosting a series of economic forums across the province in November. These forums will engage provincial stakeholders to participate in in-depth discussions to identify barriers and potential opportunities for women to strengthen and impact the provincial economy.
The initiative, entitled Drivers of Growth, will launch on the morning of Tuesday, November 15, 2016 at Sheraton Hotel Newfoundland in St. John’s.
“Through the Drivers of Growth Women’s Economic Forum, NLOWE will seek to unlock the potential of women on our economy by creating the supports necessary to increase their leadership roles in business and on boards.” says NLOWE CEO, Paula Sheppard.
Women hold extraordinary potential in impacting the business community and driving economic growth in Newfoundland and Labrador. In fact, The Canadian Taskforce for Women’s Business Growth found that “a 20 percent increase in total revenues amoung majority female-owned enterprises will contribute an additional $2 billion per annum to the Canadian economy.” In leadership roles, women drive better financial performance. 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.
Yet, women business owners face many barriers to growth. Even though Canadian women are starting businesses at twice the rate of men, they continue to face challenges in accessing growth capital and resources to scale up their business. Women business owners are also under-represented in procurement contracts and in leadership roles in business and on boards.
Drivers of Growth will explore both the challenges and successes of women advancing in business and leadership roles, as well as the conditions that are key in supporting women’s leadership.
These discussions will result in actionable recommendations for government, businesses, and individuals to increase the economic growth and impact of women. The results will be detailed in an action plan to be released in early 2017.
Following the November 15th launch, four additional economic forums will be held across the province.
- November 15 — Sheraton Hotel Newfoundland, St. John’s
- November 16 — The Stone Jug, Carbonear
- November 17 — Hotel Gander, Gander
- November 22 — Hotel North 2, Happy Valley-Goose Bay
- November 24 — Greenwood Inn & Suites, Corner Brook
Federal, provincial, and community leaders, influencers, and individuals interested in shaping the future of our economy are encouraged to register for a Drivers of Growth event in their area by visiting www.nlowe.org/driversofgrowth.
NLOWE is the only provincial organization that is dedicated exclusively to the support of women in business. NLOWE provides valuable and relevant training through a large network of services, resources and opportunities to help women develop and grow their businesses. NLOWE offers services to women in business thanks to the Atlantic Canada Opportunities Agency (ACOA) and the Government of Newfoundland and Labrador.