Over 50% of Canada is female. The diversity and resilience of the world’s many cultures is reflected in our population. At Ownr, we feel it’s important to advance the dreams and aspirations of our diverse people. Business solutions must be designed to level the playing field for both genders, and every community. We believe a gender-balanced economy fosters innovation that’s responsive to all needs.
While we have been focused on making it easy for any entrepreneur to start a business, Ownr is also committed to eliminating the many barriers that stall the entrepreneurial ambitions of women. In fact, the headlining conversation this International Women’s Day is pushing for gender balance in the workplace and in business.
With the impetus gained from the #MeToo and #TimesUp movements, the world now expects balance. And that’s why, this year, the call for action is to #BalanceforBetter. The global campaign makes a compelling argument – Balance is not a women’s issue. Balance is a business issue.
Every March 8th, we celebrate the social, economic, cultural and political achievements of women. It’s a day to re-energize our efforts for gender parity. Successful economies and thriving communities are built by both genders.
Women with access to education and resources, who don’t face bias at work, and enjoy equal representation in places of power, become instruments of change. When women do better, everybody does better. That’s the essence behind this year’s #BalanceforBetter focus.
Entrepreneurship for women in Canada
We’re seeing greater visibility of women in the C-suite and in politics, and legislative rights are more equitable. However, women entrepreneurs continue to be under-represented in the Canadian economy. About 16% of Small and Medium Enterprises (SMEs) in the country are owned by women, compared to almost 65% of SMEs being male-owned.
Access to funding can be a barrier for women entrepreneurs who want to launch a business or take it to the next level. Women entrepreneurs find it challenging to get investment. According to research, two-thirds of Canada’s venture-capital dollars are controlled by investment teams with no women in senior leadership positions. It’s hard to know if promising women-led businesses lose out because of the lack of gender-diversity in venture capital firms, but it’s something to scrutinize.
Canadian women entrepreneurs continue to flourish despite these gender gaps. Recent reports show that female-owned businesses in Canada have been growing at a faster rate than male-owned enterprises. In fact, a 2016 study confirmed that Canada had the highest percentage of women participating in early-stage business activity, when compared to similar innovation-based economies.
Gender-balance for a better working world
To support this growing interest in business ownership, and to tackle challenges women entrepreneurs face, the Government of Canada has put in place its first Women Entrepreneurship Strategy (WES). The goal is to double the number of women-owned businesses by 2025.
“Our government believes that women’s economic empowerment is not just the right thing to do; it’s good for the bottom line.”
Honourable Mary Ng, Minister of Small Business and Export Promotion at the launch of WES in October 2018.
A $2 billion investment has been set aside as part of WES to support women entrepreneurs start and grow world-class businesses that compete on the world stage, stimulate economic growth and create middle-class jobs. This fund will invest in programs and initiatives that increase access to financing, talent, networks and expertise for women.
Start your own entrepreneurship journey
Business ownership is a spark for innovation. An environment where women are empowered to participate without barriers creates stronger and sustainable economic growth. While the government is doing its part to improve the experience for female business owners, at Ownr we’re also here to help you take the first step towards business ownership and make it official.
With Ownr, it’s easier than ever to start your business. You can register or incorporate within minutes, at a fraction of the cost.
Registering your business name or incorporating your company is critical to your success, because it provides you legal protection and tax advantages. And with Ownr’s exclusive partner benefits, you have access to essential business products and services that will save you money when starting out .
Join 60,000+ businesses who used Ownr to get started, and make your business official today.
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