TORONTO, Nov. 21, 2014 /CNW/ - Today, the Honourable Dr. K. Kellie Leitch, Minister of Labour and Minister of Status of Women, highlighted Government of Canada actions to support women-led businesses in Canada during an event in Toronto with AMWAY Canada.
The Minister noted that women led businesses are a powerful economic force in Canada, yet have even greater potential. Fulfilling a commitment made in Economic Action Plan 2014, Minister Leitch highlighted the fact that she is now actively consulting Canadians on how best to increase the number of women entering into and succeeding in business.
The Government of Canada has also established an Expert Panel on Championing and Mentorship for Women Entrepreneurs that has been meeting with a cross-section of Canadian business leaders. The Expert Panel will advise the Minister on the innovative best practices for mentorship and championing women-led businesses that have been shown to work.
An Advisory Council on Women Entrepreneurs and Business Leaders was established by the federal government in September 2014. The Advisory Council will advise the Government of Canada on challenges women-led businesses can face such as: financing and how to access it, and some of the best practices for supporting the growth of their businesses. The work of the Expert Panel and Advisory Council will inform the Government of Canada's efforts to support women entrepreneurs.
- Economic Action Plan 2014 outlined the Government's commitment to increasing mentorship among women entrepreneurs.
- RBC Economics reports that as of 2011, the contribution of majority-owned women's businesses to the Canadian economy was an estimated $148 billion.
- RBC estimates that a 10% increase in the number of majority-owned women's businesses over 10 years would bring the total economic contribution to $198 billion – a net annual gain of $15 billion after inflation.
- On June 26, 2014, the report of the Government of Canada's Advisory Council for Promoting Women on Boards was released. It recommends that the public and private sectors in Canada aspire to seeing women attain 30% of all board positions over the next five years. It also outlines a roadmap for making this happen.
- The Government of Canada has provided over $146 million in funding through Status of Women Canada to support more than 720 projects since 2007. This includes more than $54 million invested in projects that promote women's economic security and prosperity. Of this amount, over $9 million has been for projects which address women's entrepreneurship.
"Our Government's top priority remains the economy. We support the success of women-led businesses that help create jobs and growth across Canada because when women succeed, Canada succeeds."
The Honourable Dr. K. Kellie Leitch
Minister of Labour and Minister of Status of Women
For news releases and information on Status of Women Canada, go to women.gc.ca.
SOURCE: Status of Women Canada
For further information: For media inquiries only: Andrew McGrath, Director of Communications, Office of the Hon. Dr. K. Kellie Leitch, P.C., O.Ont, M.P., Minister of Labour and Minister of Status of Women, Tel: 819-953-5646, [email protected]; For all other inquiries: Nanci-Jean Waugh, Director General, Communications and Public Affairs, Status of Women Canada, Tel: 819-420-6810