Women entrepreneurs in Canada can receive $100, 000

Jenny Cameron / October 24, 2018

A brand new strategy has been released to help women grow or start their business. (Government of Canada)

The first ever Women Entrepreneurship Strategy program has launched with hopes to help women excel in Canada.

The strategy, a part of Budget 2018, will invest $2-billion dollars with the hopes to create double the amount of women-owned businesses by 2025. Within this fund, $20-million will be allocated over two years to help women-owned and women-led businesses in Canada. Up to $100, 000 can be given to successful individuals or companies.

“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. I’m thrilled that the Women Entrepreneurship Fund will help foster women entrepreneurship from coast to coast to coast.”  – The Honourable Mary Ng, Minister of Small Business and Export Promotion.

According to Government of Canada, 16% of small and medium-sized enterprises are owned by women and the Women Entrepreneurship Strategy will help women start or grow their business by improving access to financing, talent, networks and expertise.

Owner of Blossom & Vine, Michelle Hodgson, says she was confident when starting her floral company back in 2014, but had no idea how it would pan out. Although Hodgson says she doesn’t like accessing help, but has looked into funding and felt like the application process was too long and she couldn’t wait.

“Funding was difficult. I just had to work my butt off and secure any extra help I could get from friends and family and take off running…I think more communication about what those programs are and what is out there to access would be great.”- Michelle Hodgson, Owner of Blossom & Vine.

Hodgson says she has not heard about this new strategy, but says it’s something she may be interested in.

According to the Government of Canada’s website, women’s equal participation in the economy is a necessity for Canada’s competitiveness.

To find out if you are eligible for funding click here.