Federal government's Women Entrepreneurship Strategy has helped over 400,000 women entrepreneurs start and grow their businesses

TORONTO, March 5, 2025 /CNW/ - Innovation, Science and Economic Development Canada

Today, the Honourable Rechie Valdez, Minister of Small Business, highlighted the accomplishments of Canada's first-ever Women Entrepreneurship Strategy (WES). The Minister made her remarks at an event hosted by the Women Entrepreneurship Knowledge Hub to release the preliminary findings of its State of Women's Entrepreneurship in Canada 2025 report.

WES was launched in 2018 to help remove the systemic barriers women entrepreneurs face and advance women's economic empowerment. WES represents nearly $7 billion in investments and commitments across 20 government departments, agencies and Crown corporations focused on strengthening the women's entrepreneurship ecosystem.

Since its launch, WES has helped over 400,000 women access the financing, networks and mentorship they need to succeed. WES accomplishments include the following:

• A stronger entrepreneurship ecosystem – Women entrepreneurs have accessed federal ecosystem programs and events more than 181,100 times.
• Better access to financing – Federal programs have provided over 25,600 loans to diverse women entrepreneurs.
• Improved knowledge and data – The Women Entrepreneurship Knowledge Hub has co-sponsored over 4,800 events attended by more than 160,000 participants.

The Women Entrepreneurship Knowledge Hub, with federal government support, shares its expertise nationwide to help service providers, academics, government and industry better support women entrepreneurs.

Since 2015, the federal government has uplifted women and has made historic investments to support women in all aspects of their lives, ultimately reducing barriers to entering the workforce. This includes:

• the Women Entrepreneurship Strategy
• $10-a-day child care, so that women never again have to decide between caring for their children and going back to work
• paid parental leave, so that women have more support during one of the most life-changing periods of their lives
• pay equity legislation, which is helping close the gender wage gap and ensuring that the work women are doing is being valued and compensated fairly

Quotes

"Studies show that advancing gender equality and women's participation in the economy can add billions in GDP. Since creating Canada's first-ever Women Entrepreneurship Strategy, our government has helped hundreds of thousands of women start new businesses, grow their existing businesses and expand into global markets. Investing in women entrepreneurs isn't just the right thing to do; it's an economic imperative and a smart strategy for a thriving future."
– The Honourable Rechie Valdez, Minister of Small Business

"Women-owned businesses are not only driving economic growth through job creation but also bringing in higher revenues year over year, generating over $90 billion in sales revenue across Canada, and accounting for more than 865,000 jobs. There are also multiplier effects of SMEs, including those owned by women, across sectors and communities. And women are more likely to contribute to sustainable development goals. There is a surge in women-founded companies across sectors from technology and finance to health care and consumer goods, attracting significant investment and market attention. As we move into challenging times, we need to ensure women entrepreneurs are central to strategies for resilience and self-sufficiency."
– Dr. Wendy Cukier, Professor of Entrepreneurship and Strategy, Toronto Metropolitan University

Quick facts

• The Women Entrepreneurship Strategy (WES) is a nearly $7 billion initiative that includes:
  • the Women Entrepreneurship Loan Fund, which funds partner organizations to deliver loans of up to $50,000 to women business owners and entrepreneurs;
  • the WES Inclusive Women Venture Capital Initiative, which seeks to build a more inclusive venture capital environment for Canadian women;
  • the WES Ecosystem Fund, which is helping strengthen capacity within the entrepreneurship ecosystem and deliver the resources women entrepreneurs need to start or grow a business; and
  • the Women Entrepreneurship Knowledge Hub, which has brought together 10 regional hubs, over 250 organizations and thousands of women entrepreneurs to create a one-stop source of knowledge, data and best practices for women entrepreneurs.
• WES partner programs include:
  • The Business Development Bank of Canada's (BDC) Women Entrepreneurs
  • BDC's Thrive Venture Fund and Lab for Women
  • Innovation, Science and Economic Development Canada's Venture Capital Catalyst Initiative
  • Export Development Canada's (EDC) Women in Trade
  • EDC's Inclusive Trade Investments Program
  • Women and Gender Equality Canada's Women's Program
  • Farm Credit Canada's Women Entrepreneur Program
  • Public Services and Procurement Canada's Procurement Assistance Canada
  • Global Affairs Canada's (GAC) Business Women in International Trade
  • GAC's CanExport funding for exporters
  • GAC's Canada's inclusive approach to trade

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SOURCE Innovation, Science and Economic Development Canada

Contacts: Callie Franson, Senior Communications Advisor and Issues Manager, Office of the Minister of Small Business, [email protected], 613-297-5766; Media Relations, Innovation, Science and Economic Development Canada, [email protected]