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 in10 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 ONBritish Columbia

o 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 - Challenges1. 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