Women Leading the Charge:Canadian Entrepreneurship
Gus Trotter
“women entrepreneurs are one of the fastest growing segments of the Canadian
Economy”(Ward, ‘Statistics,’ n.d.)
Agenda 1 - Introduction
1. Needs
2. Wants
3. Challenges
Agenda 2 - Traits
1. Highly Educated2. Average Age3. Professional Organization4. Trade Organization5. Not immigrant6. One-person7. BC, AB, or ON
Agenda 3 – Final Comments
1. Summary – Needs & Wants2. Summary – Traits3. Summary – Challenges4. Recommendations5. In Conclusion6. References7. Question Period
Needs
• Flexibilityo stay-at-home; lifestyle
• Ageo economic
• Educationo later in life
• Employmento single vs. married
Income for Canadian Women Entrepreneurs(EmpoweredWomen.com, 2010, p. 34)
Wants
• WealthoMen vs. Women
• LoveoOf what they do
• EqualityoPayment for services
Income by Gender(EmpoweredWomen.com, 2010, p. 36)
Grand Challenges
1. Equality of $$2. Personal Debt3. Capital4. Lack of Access5. International Experience6. Inadequate business information7. Inadequate business technology
Basic Challenges
1. Finding clients
2. Steady workload
3. Working long hours
Trait 1 – Highly Educated
• Increase in education amongst women
• 1 in 4 self-employed = university educated
• 1 in 2 = above average $$
• Increase in employment quality
Education Trends of Self-Employed Women(EmpoweredWomen.com, 2010, p. 8)
Trait 2 – Average Age
• Rise in post-secondary education• 96% worked for others before starting
business• Average age 41-years-old• Over 55 – growth rate of 4% since 1989• “Lifestylers” and “Seniorpreneurs”
Percentage of Self-Employed Women Rises with Age(EmpoweredWomen.com, 2010, p. 12)
Trait 3 – Professional Organization
• 40% women sole proprietors are members
• Twice the rate of men
• Flip Side: Unincorporated
Trait 4 – Trade Organization
• 40% sole proprietors
• Double rate of men
• Networking options
• Business prospects
Self-Employment of Women in Occupation Categories(Adapted from EmpoweredWomen.com, 2010, p. 25)
Trait 5 – Not Immigrant• 1 in 5 not born in Canada
• 30% outpace men
• Tend to be younger/more educated
• After 5 years – 9 in 10 self-employed
• After 5 years – no different than born here
Sources of Revenue for Immigrant Women
Less than 5 years in Canada– 30% of income supplied by home
– Country– Government– Family
More than 5 years in Canada– 6% of income supplied by home
Trait 6 – One-person
• 62.7% unincorporated sole workers
• Growth less important
• Personal services & retail sales sectors
• Financially better off
Self-Employment: Women vs. Men(EmpoweredWomen.com, 2010, p. 42 )
Trait 7 – BC, AB, or ON
British Columbiao 6.1% annual increase in SBE womeno New Canadians
Albertao 4.8% annual increase in SBE womeno Economy
Ontarioo 40% of country’s women’s SBEo 30% negative circumstances
Self-Employed Women by Province(Adapted from EmpoweredWomen.com, 2010, p. 40)
Summary – Needs & Wants
1. Employment2. Flexibility3. Age4. Education5. Wealth6. Love7. Equality
Summary - Traits
1. Highly Educated2. Average Age3. Professional Organization4. Trade Organization5. Not immigrant6. One-person7. BC, AB, or ON
Summary - Challenges
1. Equality of $$2. Personal Debt3. Capital4. Lack of Access5. International Experience6. Inadequate business information7. Inadequate business technology8. Finding clients9. Steady workload10. Working long hours
Recommendations
• Business Attitude
• Networking
• Thick Skin
Women in Business Their Recommendations
Database
• Supplier Diversity
• Access to Suppliers
Institution
• Government Support
• Federal Contracts
In Conclusion
“It is clear from the latest census results that women represent the future of self-employment in Canada.”
(Ward, ‘Statistics,’ n.d.)
References
CIBC World Markets. (2005). Women Entrepreneurs: Leading the Charge. Retrieved from http://www.cibc.com/ca/pdf/women-entretreneurs-en.pdf
EmpoweredWomen.com. (2010). A Report on Women in Business in Canada, with Statistics. Retrieved from http://www.empoweredwomen.com
Ward, S. (n.d.). The Face of Canadian Business Women, Parts 1-4. Women in Business. Retrieved from http://sbinfocanada.about.com/od/womeninbusiness/a/bizwomengrow.htm
Ward, S. (n.d.). Small Business Statistics on Canadian Women in Business. Women in Business. Retrieved from http://sbinfocanada.about.com/od/canadianstats/a/bizwomenstats.htm
References Ward, S. (2003, March 7). Statistics. The Business Research Newsletter. Retrieved from
http://sbinfocanada.about.com/gi/o.htm?zi=1/XJ&zTi=1&sdn=sbinfocanada&cdn=money&tm=9&f=21&su=p284.9.336.ip_p649.3.336.ip_&tt=2&bt=1&bts=0&st=23&zu=http%3A//www.royalbank.com/sme/women/statistics.html
Ward, S. (n.d.). Women Entrepreneurs of Canada. Women in Business. Retrieved from http://sbinfocanada.about.com/cs/womeninbusiness/a/womenissues1.htm
Ward, S. (n.d.). Women in Business a Growing Wave: CIBC Report Profiles Astonishing
Growth in Women-Owned Business. Women in Business. Retrieved from http://sbinfocanada.about.com/od/womeninbusiness/a/bizwomengrow.htm
Wolfe, L. (n.d.). Do You Have What it Takes to Become a Successful Woman Entrepreneur? Women in Business. Retrieved from http://womeninbusiness.about.com/od/startingasmallbusiness/a/3traitsofentrep_3.htm
Thank you