EXECUTIVE SUMMARY

The House of Commons Standing Committee on the Status of Women[1] (“the Committee”) undertook a study on the economic leadership and prosperity of Canadian women, where testimony was provided by 37 witnesses – 2 of whom appeared as individuals, and the remainder representing 25 organizations – over a total of 10 meetings held from April to November 2014. These meetings confirmed that women are an exciting part of the entrepreneurial movement in Canada.

In a briefing by Industry Canada, the Committee learned that in 2011, 14% of small businesses were solely owned by women, and around 18% of small businesses were owned in equal measure by both men and women.[2] Statistics Canada, in a briefing to the Committee, stated that one in eight women was self-employed, compared with one in five men.[3]

It was emphasized that women are highly educated, yet hesitate to pursue entrepreneurial opportunities. Women are more likely to pursue such an entrepreneurial path if they are involved in either formal or informal mentorship.

Ms. JudyLynn Archer, President and Chief Executive Officer at Women Building Futures, explained that women entering her organization’s trade program had an average salary increase of 127%, as compared with their previous salary, on their first day of hire.[4] Furthermore, she explained that “this industry provides incredible opportunity. It comes with no student debt, a way to earn as you learn, and a way to make an income that most women would not dream about.”[5]

In his testimony, Mr. John Gartke, a director at Foreign Affairs, Trade and Development Canada, shared information from a recent report: it predicts “a 10% increase in the number of women-owned firms over the next 10 years would lead to a $50 billion injection into the Canadian economy. This demonstrates that Canadian business women are well placed to lead the charge in strengthening our economy and creating jobs, now and well into the future.”[6]

Those who testified also discussed some of the obstacles women face while pursuing economic prosperity and leadership; these included access to education, access to child care and challenges specific to marginalized groups of women, such as Aboriginal women, immigrant and racialized women, and disabled women.

The Committee heard that financial training is valuable for immigrant women to help them succeed in finding employment or launching a business. In addition, witnesses spoke about the difficulty immigrant women face in obtaining recognition for foreign accreditation.

Ms. Hodan Nalayeh, Executive Producer of Integration TV, said that while her Somali community had “great entrepreneurial spirit,” the members of the community struggled in Canada to expand their businesses to mainstream society beyond their community.[7]

Countless witnesses recognized the vital role that women play in Canada’s economy. With the guidance and testimony from the Committee’s witnesses, the Committee developed a set of recommendations.

Through the recommendations at the end of this study, the Committee continues to show its support of women’s economic leadership and prosperity.

Examples of these recommendations include:

The Committee recommends that the Government of Canada consider developing a national mentorship campaign for female entrepreneurs to encourage support among business women.

The Committee recommends that the Government of Canada implement a “comply or explain” approach for increasing women’s representation on corporate boards, with targets, timelines and increased transparency.

The recommendations presented in this study provide a path towards improved economic leadership and prosperity of all Canadian women.