My StartUp’s Mother’s Day themed month of May is the perfect time to turn our attention to a new report on entrepreneurial women and risk.
The report, a joint effort from BMO, Carleton University and the Beacon Agency, reviewed the entrepreneurial landscape in Canada for women in the context of risk, innovation, and financing.
According to A Force to Reckon With: Women, Entrepreneurship and Risk, women entrepreneurs in Canada have difficulty securing funding from financial institutions because they are mistakenly seen as risk-averse and unable to generate the same economic growth as men.
Other points of interest from the report
- The number of women entrepreneurs in Canada has increased by 15% since 2007 (more than doubled since 1996).
- Stats from Industry Canada’s 2011 Survey on Financing of Small and Medium Sized Enterprises showed no significant difference between male- and female-owned businesses in terms of economic growth.
“We know that women entrepreneurs are eager for information that can help them make sound decisions around risk,’’ said Clare Beckton, executive director of Carleton’s Centre for Women in Politics and Public Leadership, who co-authored the report. “We’ve also identified that they are unaware of some of the existing credit available to them.”
The key takeaways?
- Women entrepreneurs as risk-averse is a stereotype.
- More than two-thirds of female-owned companies report capturing a larger share of their existing market through innovation.
- Businesses with majority female ownership report the highest instance of average yearly revenue growth of 20 per cent.
Read the full report at: https://bmoforwomen.bmo.com/bmo-carleton-university-the-beacon-agency-release-report/