Real Life Lessons: Engaging Communities, Stakeholders, and Rights Holders Women as Entrepreneurs:...
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Transcript of Real Life Lessons: Engaging Communities, Stakeholders, and Rights Holders Women as Entrepreneurs:...
Real Life Lessons:
Engaging Communities, Stakeholders, and Rights Holders
Women as Entrepreneurs:
Transforming Economies
Tracey Scarlett
April 11, 2013
What is Entrepreneurship?
• Entrepreneur: one who organizes, manages, and assumes the risks of a business or enterprise
• Business based on an idea, vision, goal, or invention
One of the most significant predictors of a thriving economy is a strong entrepreneurial ecosystem!
Did You Know?• 98% of Canada’s GDP comes from SMEs
• All net new jobs in the US between 1977 and 2010 (Kauffman Foundation) came from small business creation and growth
• 96% of all businesses in Alberta are defined as small business
• 36% of private sector employment in Alberta comes from small business
Did You Know?
• 35% of all businesses in Canada are majority owned by women and nearly 50% have female ownership
• There are approximately 1 Million female entrepreneurs in Canada; 110,000 reside in Alberta
• Women open businesses at more than double the rate of men
• Female led businesses employ 1.5M Canadians
• $117B annual economic impact
Alberta Women Entrepreneurs
• Our Vision is to ensure:
Women Entrepreneurs
are successful contributors
to the Alberta economy
Build the Person, Build the Business,
Build the Community
Why become an entrepreneur?
Women we see state the following factors:
• Money • Different lifestyle / often accompanies a
significant life change event• Control over your future• Build something your way• Work according to your schedule
18 Years of Impact in Alberta
• Loans: Over $16M; leveraged 2.2:1
• Estimated economic impact: $450M
• Jobs created: 200-250 annually
• Clients in business after 5 years: 75%
• Average additional revenue per client over 5 years: $1.9M
The Landscape: Services for Entrepreneurs
Stage of Business
Start-Up
Pre-Start-Up
Established
Service Offerings
Transactional Supportive
Banks
Professional Advisory Services
Business Information, Workshops
$2M+ Peer GroupsExecutive
Coaching
Business Incubators
Start-up
Mentorship Programs
Gov’t Lending
programs
Business Plan Competitions
SR&ED Tax credits
Innovation Programs
Accelerator Programs
Business Associations
& Affinity Groups
The Big Question:
• Are gender based initiatives still relevant?
Food for Thought
• Women have ownership in nearly half of all small businesses in Canada
– Yet majority female owned firms are half the size of male owned firms
• Industry Canada reports that growth aspirations are the same for majority male and female owned firms
– Yet women do not access the same level of financing for growth (controlled for sector)
Food for Thought• Young women comprise more than 50% of many
bachelor degree and advanced degree programs
• The wage gap remains with women earning 89 cents for each dollar earned by men (bachelors degree new grads)
– Equal earnings in government, education, social sectors
– 86 cent dollars in management professions
– 72 cent dollars in sales and professional services
• Interestingly the wage gap disappears when women own their own businesses (UK study - Barclays, 2013)
Food for Thought
• In fields such as accounting and law, women represent the majority of new graduates
– Yet very few women reach senior manager or partner level
• Canada’s productivity gap continues to grow
– Yet we have a large pool of highly educated professional women sitting on the sidelines
Demographics in Canada
AWE: Helping Businesses Realize Success• Connecting to Contracts Program
– Supplier Diversity Certification
– Trade Missions
• Building on Success Workshops
• Annual Leadership Summit
• Celebration of Achievement
• Excelerator Program
• Next Step to Success for Aboriginal Women
The Big Question
How will you develop the economic potential of your entire population?
Opportunities for community economic development:• Mentorship• Leadership development• Communities of support (peer groups)• Entrepreneurship support for expanding
businesses• Supplier diversity initiatives
Thank you!