Government of Canada invests $1.2 million to help 13 women-led companies in Edmonton and surrounding area grow and export
EDMONTON, May 4, 2019 /CNW/ - The Government of Canada is advancing women's economic empowerment with the first-ever Women Entrepreneurship Strategy, a $2-billion investment that seeks to double the number of women-owned businesses by 2025.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, joined the Honourable Amarjeet Sohi, Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods, Randy Boissonnault, Member of Parliament for Edmonton Centre, and several local women entrepreneurs to celebrate women's entrepreneurship in Canada and share how the federal government is helping women entrepreneurs succeed.
Minister Ng announced a $1.2-million investment in 13 women-led companies in the Edmonton area through the Women Entrepreneurship Fund. The successful recipients will each receive an investment of up to $100,000 that will help them innovate, grow, and access new markets.
The Women Entrepreneurship Strategy complements the Government of Canada's efforts to advance gender equality, which include addressing pay equity, providing more affordable childcare and putting an end to gender-based violence.
"Our government believes that women's economic empowerment is not just the right thing to do; it's good for the bottom line. That's why we launched the Women Entrepreneurship Strategy, a strategy that seeks to double the number of women-owned businesses by increasing their access to financing, networks and advice. It's a smart investment with an economic and social return."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"Our government knows that Canada works best when it works for everyone. This is why, through the Women Entrepreneurship Strategy, we are investing in women entrepreneurs here in Edmonton and in communities across the country."
– The Honourable Amarjeet Sohi, Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods
"The women entrepreneurs and business leaders of Edmonton make incredible contributions to our economy and community every day. I'm proud to be part of a government that takes women's economic empowerment seriously. From tackling pay equity to modernizing parental leave, this government is taking action on gender equality, and that's good for Canada and good for Alberta because when women succeed, we all succeed."
– Randy Boissonnault, Member of Parliament for Edmonton Centre
- The Women Entrepreneurship Strategy (WES) will help women start and grow their businesses by improving access to financing, talent, networks and expertise through an investment of nearly $2 billion.
- The strategy will help our government achieve its goal of doubling the number of majority women-owned businesses by 2025.
- WES programs complement our government's broader initiatives to help women, including measures on pay equity, more flexible parental leave and more affordable childcare.
- Advancing gender equality has the potential to add $150 billion in incremental GDP to the Canadian economy by 2026.
- Fewer than 16% of SMEs in Canada are majority women-owned.
- Only 11.2% of majority women-owned SMEs export, compared to 12.2% of majority male-owned SMEs.
- The Global Entrepreneurship Monitor Canada 2015/16 Report on Women's Entrepreneurship indicated that in 2016 Canada had the highest percentage of women participating in early-stage activity (13.3%) and the fifth highest in terms of female ownership of established businesses among comparable innovation-based economies.
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- Accelerated Growth Service
- Industrial Research Assistance Program
- Innovative Solutions Canada
- Venture Capital Catalyst Initiative
- Women Entrepreneurship Strategy
- Canada-European Union Comprehensive Economic and Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Canada-United States-Mexico Agreement
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SOURCE Innovation, Science and Economic Development Canada
For further information: Corinne Havard, Press Secretary, Office of the Minister of Small Business and Export Promotion, firstname.lastname@example.org; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, email@example.com