Women entrepreneurs speed economic recovery: Ernst & Young

Nominate a deserving candidate for Entrepreneur Of The Year(R) - Deadline is April 30

TORONTO, April 13 /CNW/ - Canadian companies have the power to drive the world's economic recovery by propelling women into leadership positions and investing in female entrepreneurs, according to Ernst & Young's report, Scaling up: why women-owned businesses can recharge the global economy.

"Women own and operate up to one-third of all private companies around the world and are the fastest-growing segment of the small-business sector," says Colleen McMorrow, National Director of the Ernst & Young Entrepreneur Of The Year Awards. "This is strong evidence that women are becoming increasingly instrumental in creating new jobs and jump-starting the economy."

Scaling up brings together compelling research suggesting that investing in women entrepreneurs can play a pivotal role in accelerating economic recovery:

    -   The number of self-employed women in Canada has surged 50% since the
        early 1990s - to about 800,000 currently.

    -   The number of women-owned businesses is growing 60% faster than those
        run by men, according to CIBC World Markets Inc.

    -   Women in Canada make up a larger share of the self-employed than in
        any other country, according to data from the Organisation for
        Economic Co-Operation and Development.

    -   Women in Canada own and/or operate 30% of all firms, according to the
        Bank of Montreal's Institute for Small Business.

McMorrow says that Canada has made significant progress in narrowing the gender gap and efforts continue in support of women's in equality in education, wages, political empowerment and economic participation. As the journey towards equality continues, there are many immediate opportunities for women to be supported and recognized for their entrepreneurial efforts and economic contributions.

Nominate a deserving candidate for the 17th annual Ernst & Young Entrepreneur Of The Year Awards, the world's most prestigious business award for entrepreneurs. The firm is seeking nominations of driven, innovative candidates running successful businesses.

"Entrepreneurs set out to realize dreams and don't stop until they reach their potential, or even beyond," says McMorrow. "From being a beacon of hope during tough times, to guiding us on the road to prosperity, entrepreneurs make revolutionary and lasting changes in many aspects of our lives."

There is no fee to nominate. Completed application forms must be received by April 30, 2010.

To be eligible for consideration, the nominee must be an owner/manager of a private or public organization who is primarily responsible for the company's recent performance and an active member of top management. The nominee's organization must be at least three years old.

This year's national program sponsors are Global Television Network, National Post, La Presse and RDI.

For more information, FAQs and key dates - and to submit a nomination online - visit ey.com/ca/eoy.

For the full Scaling up report, visit ey.com/scalingup.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

For more information, please visit ey.com/ca.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

The Ernst & Young organization is divided into five geographic areas and firms may be members of the following entities: Ernst & Young Americas LLC, Ernst & Young EMEIA Limited, Ernst & Young Far East Area Limited and Ernst & Young Oceania Limited. These entities do not provide services to clients.

SOURCE EY (Ernst & Young)

For further information: For further information: contact a representative in your area: Marie-Eve Graniero, marie-eve.graniero@ca.ey.com, (514) 874-4313; Brooke Morris, brooke.morris@ca.ey.com, (604) 899-3597; Samantha Goldsilver, samantha.goldsiver@ca.ey.com, (416) 943-3458

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