The Taskforce for Women’s Business Growth has released a report calling for governments at all levels to do more to support Canadian women entrepreneurs.
Women-led businesses in Canada represent a huge economic opportunity for our country. Majority women-owned small and medium-sized enterprises represent over $117 billion per annum of economic activity in Canada. Yet, majority women-owned firms fail to grow as quickly as firms led by men. These differences are reflected in Canadian productivity and competitiveness.
Describing it as an essential strategy for sustained economic growth for the country, the report projects that a 20 percent increase in total revenues among majority female-owned enterprises will contribute an additional $2 billion per annum to the Canadian economy.
The report outlines the need for a concerted effort to mobilize this underdeveloped segment of the Canadian economy through a five-point strategy.
- Create a national women-focused economic development strategy.
- Create business stimulation programs to develop foreign trade.
- Create and implement measureable supplier diversity procurement objectives for all federal agencies and departments.
- Enhance women’s financial literacy and awareness of gender influences in firm capitalization through training and other incentives.
- 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 or download the Taskforce report, we invite you to visit: http://sites.telfer.uOttawa.ca/womensenterprise/
(cliquez ici pour obtenir des informations en français)
Chair, Taskforce for Women’s Business Growth
Deloitte Professor in the Management of Growth Enterprise
University of Ottawa Telfer School of Management