The federal government says women entrepreneurs are essential to starting businesses, creating jobs and strengthening communities across Canada.
Minister of Women and Gender Equality Rechie Valdez announced the federal government’s investment of $173.7 million to help businesswomen access financial resources, training and mentorship.
The announcement took place at Cafe Noir, a woman-owned coffee and pastry shop in downtown Lethbridge.
“It’s a big deal. I think women in business have been struggling to get capital and funding for a long time,” said Amber Morrow, owner of Cafe Noir.
Get daily National news
Morrow says many entrepreneurs face challenges when they dive head first into opening their own business.
She says having this funding and support specifically targeted for women is “huge.”
Minister Rechie Valdez says this investment builds on what’s already underway.
“This strategy, it started in 2018, and this is funding that will help continue the momentum from our first initiation,” said Valdez.
- Vancouver working to avoid ‘the great sigh’ following FIFA World Cup excitement
- Port of Vancouver expansion project referred to Canada’s Major Projects Office
- Close to 800,000 have applied for $100 rebate, payments coming: Alberta’s Smith
- Canfor closing Prince George pulp mill, hundreds of jobs lost
According to the federal government, the strategy has supported more than 500,000 women entrepreneurs since its launch.
This latest investment includes funding for organizations that operate the Women’s Entrepreneurship Loan Fund, which offers loans of up to $50,000 across Canada.
More than 1,600 loans have already been delivered through the program.
The funding also supports the WES Ecosystem Fund, which helps organizations provide business training, advisory services and mentorship programs.
The federal government says the intention is to lift up women entrepreneurs, so they can start, grow and scale their business while contributing to economic growth across Canada.
Sad to see that my government thinks my daughters are second class citizens who require a handout to compete
As a woman (a real one). Our men deserve to be celebrated, was it not just Fathers Day. Why doesn’t the government do something for them. Oh yeah, cause DEI. Anyways, THANK YOU HARD WORKING MEN. You are the backbone of this country, you deserve better.