Women entrepreneurs are a growing force in Canada. One million women in this country will own their own business by 2010, according to a CIBC report on women entrepreneurs. This same report states that women-owned businesses are growing 60% faster than those owned by men. Ontario is home to 40% of all women-owned small businesses in the country, although Western regions in Canada are experiencing tremendous increases in the number of women entrepreneurs.
What is driving this change? For a lot of women, business ownership is a lifestyle choice. Most employers have had trouble adjusting to the fact that employees, especially women, need flexibility in their work schedules in order to maintain balance in their lives. Women don't want to get home at 7:00 at night. They don't want to put their kids into before and after school programs. And they don't want to miss out on important events in their children's lives.
But it's not all about children. The fastest growing demographic in self-employed women is those 55 and older.
The trend here is obvious. Workplaces have not adapted to women's needs, so women have moved on. They are better educated than ever and have developed skills that are well suited to business ownership, so they are taking the plunge in huge numbers.
Despite the growing success of women entrepreneurs, many still face some harsh realities. Some 41% of respondents in the CIBC study reported being taken less seriously than their male counterparts. And there are income disparities. Women entrepreneurs in retail and personal services earn significantly less than the average self-employed woman, and nearly one-third less than men in the same occupations.
All individuals who start their own business face challenges, but women entrepreneurs face many that men do not. The reasons are obvious and have been well documented. Women are typically the primary caregivers for children or elderly parents. They usually do most of the housework and cooking. Finding the time to manage a new business is difficult.
Women entrepreneurs may also encounter barriers when searching for suppliers or financing, again because they are not taken as seriously as male business owners. Because many women-owned businesses are knowledge or service based, they have no collateral, which can make it difficult to obtain financing.
Luckily, governments and non-profit organizations have stepped up to the plate with a wide range of programs designed to help women entrepreneurs find the advice and support they need.
Canada Business is a federal service with a range of programs for women. It also offers a special program for aboriginal women entrepreneurs.
The Canada-Ontario Business Service Center has a guide for women in business.
Many continuing education centers run courses for women in business. Your local board of education can tell you more.
Chambers of commerce and municipal business development departments may also offer programs of interest to women.
Women's centers in Ontario provide resources for women in business, from workshops to full training programs. Consult your local women's center for more information.
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Women Entrepreneurs in Ontario - Support and Services For Business Development
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