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Women are getting a leg up

Women across the country are being reminded that their businesses matter.
women in business
The federal government’s Women in Entrepreneurship Fund is supporting women who own their own business.

Women across the country are being reminded that their businesses matter.


In October, the Government of Canada announced the Women Entrepreneurship Fund, a grant model that focuses on advancing gender equality, women’s economic empowerment, and supports female entrepreneurs and their businesses.


“I think we’ve all heard of the glass ceiling. Women have always had to struggle to be paid equal and have equal rights, especially when it comes to business… Only 16 per cent of small to medium sized businesses are owned by women,” expressed executive director of the Bonnyville and District Chamber of Commerce Serina Parsons.


She added, although statistics show there is still a lot of work to be done, this fund is a step in the right direction.


“I think this strategy, and what the Government of Canada is coming out with, is an amazing opportunity for women to step-in and show their leadership and value,” she stressed.


The fund was created as part of the government’s Women Entrepreneurship Strategy, and is providing up to $100,000 in non-repayable contribution funding for 12 months for women-owned and led businesses. In total, the government is budgeting $20-million over the next five years.


For businesses like Krazee Klean, that funding can make a world of a difference.


“I think this initiative is fantastic. It’s a great step forward in helping women. The more women you have in the economy, the better it becomes,” owner Wanda Ackert said.


She added, “I’m glad they’re coming out with this initiative, because it’s actually called the Women’s Entrepreneurship Strategy. To me, it’s about time.”


As a woman who has been running her business in the community for 17 years, Ackert has witnessed on multiple occasions how women are treated differently in the world of business.


“I see it in my own field. These guys expand like crazy and I’m wondering how they can get the money when I can’t. That’s the part that I’ve never understood,” she emphasized, adding the fact that the funding is through the Women Entrepreneurship Strategy is saying enough.


“This is definitely another step to equality.”


Parsons said females have a lot to offer when it comes to the business world, using the Canadian Breast Cancer Foundation as an example of the difference women can make


“They have a lot of compassion, great ideas, and we’ve all seen what can happen when women come together,” expressed Parsons. “When women come together with their ideas and growth, I feel like only great things can happen, not to mention the value that will bring to encourage these women in our communities.”


She added, in a time when it’s hard enough to grow a businesses, it’s even harder for female entrepreneurs.


“I know that we’ve had a really hard economic reality, but I think that this grant program and this entrepreneurship strategy for women, can really only benefit future growth and businesses for women.”


Phyllis Maki, general manager of Community Futures Lakeland, explained how the fund differs from some of the provincially run options.


Under the Women Entrepreneurship Strategy, non-profit organizations can also apply for financial support through the Ecosystem Fund, something that isn’t currently being offered.


This branch of funding is geared towards strengthening capacity within the entrepreneurship ecosystem and aims to close gaps in service for women entrepreneurs. Over the next five years, $85-million will be distributed to eligible non-profit organizations.


“Most of the funding that has been available previously has been purely women in business,” Maki explained.


Another aspect of both funding streams Maki appreciated was the short list of ineligible costs covered by the program.


Costs that are covered include any that are necessary to perform the work under the project which are directly related to achieving the applicant’s objectives.


In order to be eligible for the Women Entrepreneurship Fund, a business must be women-owned or led, be a for-profit organization, have less than 499 employees, and have been in operation for a minimum of two years.


Priority applicants, such as diverse women, businesses with products and/or services related to one of the Economic Strategy Table sectors, and projects seeking to pursue market opportunities abroad, are required to provide a minimum 10 per cent cash contribution towards the project. Other applicants must meet a minimum cost-share scenario of 20 per cent.


Maki noted anyone struggling with the application, which must be completed online, is welcome to stop by Community Futures for help.


Parsons said, “This (funding) is really allowing people to see that growth, to see their ideas, and provides a way to bring it to fruition.”


For more information on the program, visit ic.gc.ca/eic/site/128.nsf/eng/home.

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