Canada invests $2 Billion to advance Women’s Economic Empowerment

The Government of Canada is investing $2-billion to advance women’s economic empowerment with the first ever Women Entrepreneurship Strategy that seeks to double the number of women-owned businesses by 2025.

This week, the Honourable Mary Ng, Canada’s Minister of Small Business and Export Promotion, participated in the Women Deliver 2019 Conference in Vancouver and met with women entrepreneurs in Vancouver and Richmond to share how the Government of Canada is supporting them in starting up, scaling up, and accessing new markets.

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Minister Ng addressed the audience at the Women Deliver 2019 Conference, speaking about how businesses can build workplaces that are more inclusive. Later, she delivered remarks on the importance of getting more women into politics. Minister Ng then met with women entrepreneurs at the Richmond Chamber of Commerce to discuss how the Government’s Women Entrepreneurship Strategy can support their success.

Minister of Small Business and Export Promotion, the Honourable Mary Ng said, “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.”

Member of Parliament for Vancouver Centre, the Honourable Hedy Fry said, “The Government of Canada is committed to ensuring the full and equal participation of women in our economy and society. This is why we created the first-ever Women Entrepreneurship Strategy, which seeks to double the number of women-owned businesses in Canada in the next six years. These investments will help women-led businesses across British Columbia innovate, grow and export to new markets.”

Minister Ng also announced an investment of nearly $1.5 million in 15 women-led companies in the Vancouver area through the Women Entrepreneurship Fund (WEF).

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The successful recipients are each receiving an investment of up to $100,000, which will help them innovate, grow, and access new markets. Minister Ng also announced an investment of up to $4.6 million through the Women Entrepreneurship Strategy Ecosystem Fund to help Groundswell Education Society, S.U.C.C.E.S.S., and Women’s Enterprise Centre close existing gaps in the women entrepreneurship ecosystem.

In response to the high volume of WEF applicants, Minister Ng announced the Government’s commitment to investing an additional $10 million to bolster the Fund, which will bring the total to $30 million and support approximately 100 more projects from among the impressive proposals received during the competitive process that took place in fall 2018. Of that investment, $2.5 million will be dedicated to project proposals submitted by Indigenous women.

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