Minister Leitch Highlights Government of Canada Actions to Support Success of Women in Business

MONTRÉAL, Sept. 20, 2014 /CNW/ - Today, the Honourable Dr. K. Kellie Leitch, Minister of Labour and Minister of Status of Women, highlighted recent Government of Canada efforts to promote economic and leadership opportunities for women in Canada. While addressing Arbonne's Canadian National Training Conference in Montréal, the Minister pointed to the recent announcement of an Expert Panel on Championing and Mentorship for Women Entrepreneurs as an example of these efforts.

The Minister noted that women led businesses are a powerful economic force in Canada, yet they still have even greater potential. She added that championing and mentorship can play an important role supporting women entrepreneurs.

The mandate of the Expert Panel is to advise the Minister on: best practices for mentorship and championing to support women entrepreneurs to expand their business and access international markets; and on the financial tools required for women entrepreneurs to succeed. The panel will be meeting with a cross section of Canadian business leaders and entrepreneurs. It is expected to submit its recommendations to the Minister this fall.

Quick Facts

• Research suggests that 88% of entrepreneurs with mentors survive in business, compared with a 50% failure rate without a mentor.
• In 2011, women held majority ownership of 15.6% of small and medium-sized businesses in Canada.
• RBC Economics reports that as of 2011, the contribution of majority-owned women's businesses to the Canadian economy was an estimated $148 billion.
• RBC estimates that a 10% increase in the number of majority-owned women's businesses over 10 years would bring the total economic contribution to $198 billion – a net annual gain of $15 billion after inflation.
• According to BMO Financial Group, women-owned businesses employ over 1.5 million Canadians.  
• Economic Action Plan 2014 outlined the Government's commitment to increasing mentorship among women entrepreneurs.
• On June 26, 2014, the report of the Government of Canada's Advisory Council for Promoting Women on Boards was released. It recommends that the public and private sectors in Canada aspire to seeing women attain 30% of all board positions over the next five years. It also outlines a roadmap for making this happen.

Quote

"Our Government's top priority remains the economy. That's why we are committed to supporting the success of women-led businesses that help create jobs and growth in communities across our country. We will continue to support female entrepreneurs who are helping to create jobs and grow their local economies throughout Canada."

The Honourable Dr. K. Kellie Leitch
Minister of Labour and Minister of Status of Women

Additional Links

• Information about Status of Women Canada at women.gc.ca
• Information about Economic Action Plan 2014

SOURCE: Status of Women Canada

For media inquiries only: Andrew McGrath, A/Director of Communications, Office of the Hon. Dr. K. Kellie Leitch, P.C., O.Ont., M.P., Minister of Labour and Minister of Status of Women, Tel: [phone], [email protected]; For all other inquiries: Nanci-Jean Waugh, Director General, Communications and Public Affairs, Status of Women Canada, Tel: [phone]; Ce texte est également disponible en français. For news releases and information on Status of Women Canada, go to women.gc.ca.