The federal government has announced investments of more than $10 million to help women entrepreneurs in Quebec access the resources they need to affirm their presence and ensure the sustainable growth of their businesses.
The funding, part of the government’s commitment to supporting diversity in Canadian business, is expected to boost 38 promising projects that will enable businesses to grow, innovate, develop and create jobs.
Advancing women’s role in economy can boost GDP
Statistics show that only 16% of Canadian small- and medium-sized businesses are owned by women. Yet studies indicate that Canada can add up to $150 billion in GDP by advancing women's participation in the economy.
"We are more determined than ever to prove that economic growth comes through equal opportunities for both sexes,” said Melanie Joly, minister of Economic Development. “Our government has set itself the mission to boost the growth of Canadian businesses and the economic diversification of communities, and this can only be done with the key support of our women entrepreneurs."
Among the projects supported are seven associations and organizations currently benefiting from the Women Entrepreneurship Strategy (WES) Ecosystem Fund which will receive additional assistance totalling $3,146,000 to help women entrepreneurs throughout the COVID-19 pandemic.