The Government Of Canada Supports Female Entrepreneurs

Women entrepreneurs face unique challenges when starting their own business ventures. This is partly because of significantly lesser investor funding given to women entrepreneurs. There is also a need for more female mentors who inspire other women to make it big without feeling the need that women entrepreneurs have to act like men. Despite these challenges, women entrepreneurs continue to be gaining ground in Canada.

In order to help women entrepreneurs achieve continued growth in all sectors and remain competitive, there are a number of programs that are available across Canada that are specifically developed with the prime purpose of assisting women successfully run businesses.

RBC’s program for women entrepreneurs

In order to meet the needs of women entrepreneurs, the Royal Bank of Canada (RBC) has specifically developed services. The bank makes financing available along with additional resources and expertise. Also, women entrepreneurs can access a wide range of information that will assist them in starting and expanding a business, along with succession planning for their retirement. RBC is also planning one-on-one strategic advising for women entrepreneurs, which ensures that businesses are successful.

The RBC Canadian Women Entrepreneur Awards allows female entrepreneurs to celebrate their successes and facilitates networking. By celebrating women entrepreneurs, RBC is providing a significant profile on the importance of female entrepreneurs on the Canadian economy.

Micro-lending for Women Entrepreneurs

The government has a micro-lending program in place that supports low-income women who are actively seeking to start their own business. This program provides those women with financial literacy training along with entrepreneurial mentoring, skills development and life skills support. These skills are taught to ensure that the women succeed in starting up as well as growing their businesses.

Women who go on and become business ready as a part of these programs are eligible to receive small loans (microloans) to start their own businesses venture. The Micro-lending for Women in Ontario program has helped several low-income women receive business readiness support and financial skills training, which have empowered them to become successful entrepreneurs.

Small Business Networks for Women Entrepreneurs

A number of Canadian provinces like Saskatchewan, Alberta and British Columbia have Women Entrepreneurs or Women Enterprise Centres. The aim of such organisations is to provide women with a start and help them grow their small businesses with the right support, services and resources. These organisations are there to ensure that women are successful. The teams of such organisations are trained to understand and relate to the unique circumstances of women business owners. These organisations also include mentoring from women entrepreneurs who have been through the experience of starting their own business.

With women entrepreneurs breaking into the market, the Canadian economy is surely going to get a boost out of it. At Prowse Chowne, we are more than happy to provide women entrepreneurs with the required legal counsel along with explaining to them the various government schemes that can be used for their benefit.