1.2 Women Entrepreneurship in Canada
1 MIN READ
Women represent a largely untapped source of potential entrepreneurs for the Canadian economy. They have made remarkable progress in recent decades — the number of women entrepreneurs has grown three times faster than the number of men entrepreneurs over the past 40 years.1 In 2018, the gap between the number of women and men entrepreneurs was as small as it has ever been.2 However, there is still a lot of work to be done since this gap is expected to remain until 2030.3How Many Canadian Companies are Owned by Women?
In Canada, approximately 114,000 companies are majority women-owned — meaning women have at least 51% ownership of the business.4 In 2018, there were about 241,000 women entrepreneurs nation-wide.5
Ownership percentages for Canadian companies:6
15.6%: majority women-owned
21.0%: equal ownership (men/women)
63.5%: majority men-owned
Pathway to Entrepreneurship
Canada is home to more than one million self-employed women, accounting for 37% of all self-employed workers.7
In fact, research shows that women who are unemployed or self-employed are more likely to become entrepreneurs.
Self-employment is an important pathway to entrepreneurship — opening the door for encouraging more women to take the entrepreneurial plunge.
Surprising Facts About Women Entrepreneurship in Canada
- Over the last 20 years, the proportion of women entrepreneurs in Canada has risen to one of the highest in the world.8
- Majority women-owned businesses contribute approximately $150 billion to the Canadian economy.9 This would climb to $198 billion if the proportion of majority women-owned businesses went up by approximately 10%.10
- Women-owned businesses employ more than 1.5 million Canadians.11
Our toolkit includes data taken from the 2017 Survey on financing and growth of small and medium enterprises. The 2022 Survey is available at the following link: https://www150.statcan.gc.ca/n1/daily-quotidien/220302/dq220302b-cansim-eng.htm
However, please note that the data included in this most recent survey is greatly influenced by the recent worldwide pandemic, making it difficult to compare it to the stats included in our toolkit which are based on a pre-pandemic period survey.
Download & Print Tool
References
1Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 10.
2Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 11.
3Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 2.
4ISED (2018). Survey on financing and growth of small and medium enterprises (SFGSME), 2017, Innovation,
Science, and Economic Development Canada, Government of Canada, https://www.ic.gc.ca/eic/site/061.nsf/vwapj/SFGSME-EFCPME_2017_eng_public.pdf/$file/SFGSME-EFCPME_2017_eng_public.pdf (page consulted September 17th 2020).
5Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 10.
6ISED (2018). Survey on financing and growth of small and medium enterprises (SFGSME), 2017, Innovation,
Science, and Economic Development Canada, Government of Canada, https://www.ic.gc.ca/eic/site/061.nsf/vwapj/SFGSME-EFCPME_2017_eng_public.pdf/$file/SFGSME-EFCPME_2017_eng_public.pdf (page consulted September 17th 2020).
7Lahouaria Yssaad and Vincent Ferrao (2019). Self-employed Canadians: Who and Why?, Statistics Canada, https://www150.statcan.gc.ca/n1/pub/71-222-x/71-222-x2019002-eng.htm (page consulted September 29th 2020).
8Lesley Young (2017). Canadians are most active women entrepreneurs in the world, University of Alberta, https://www.ualberta.ca/arts/faculty-news/2017/december/canadians-are-most-active-women-entrepreneurs-in-the-world.html (page consulted October 15th 2020).
9Global Affairs Canada (2019). Trade and gender connection, Government of Canada, https://www.international.gc.ca/trade-commerce/gender_equality-egalite_genres/trade_gender-commerce_genre.aspx?lang=eng (page consulted October 14th 2020).
10 Laura Cooper (2013). Canadian Women Grabbing the Baton, RBC Economics Research, http://www.rbc.com/economics/economic-reports/pdf/other-reports/canadianwomengrabbingthebaton.pdf (page consulted October 8th 2020).
11Global Affairs Canada (2019). Trade and gender connection, Government of Canada, https://www.international.gc.ca/trade-commerce/gender_equality-egalite_genres/trade_gender-commerce_genre.aspx?lang=eng (page consulted October 14th 2020).
2Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 11.
3Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 2.
4ISED (2018). Survey on financing and growth of small and medium enterprises (SFGSME), 2017, Innovation,
Science, and Economic Development Canada, Government of Canada, https://www.ic.gc.ca/eic/site/061.nsf/vwapj/SFGSME-EFCPME_2017_eng_public.pdf/$file/SFGSME-EFCPME_2017_eng_public.pdf (page consulted September 17th 2020).
5Business Development Bank of Canada (2019). A Nation of Entrepreneurs: The Changing Face of Canadian Entrepreneurship, p. 10.
6ISED (2018). Survey on financing and growth of small and medium enterprises (SFGSME), 2017, Innovation,
Science, and Economic Development Canada, Government of Canada, https://www.ic.gc.ca/eic/site/061.nsf/vwapj/SFGSME-EFCPME_2017_eng_public.pdf/$file/SFGSME-EFCPME_2017_eng_public.pdf (page consulted September 17th 2020).
7Lahouaria Yssaad and Vincent Ferrao (2019). Self-employed Canadians: Who and Why?, Statistics Canada, https://www150.statcan.gc.ca/n1/pub/71-222-x/71-222-x2019002-eng.htm (page consulted September 29th 2020).
8Lesley Young (2017). Canadians are most active women entrepreneurs in the world, University of Alberta, https://www.ualberta.ca/arts/faculty-news/2017/december/canadians-are-most-active-women-entrepreneurs-in-the-world.html (page consulted October 15th 2020).
9Global Affairs Canada (2019). Trade and gender connection, Government of Canada, https://www.international.gc.ca/trade-commerce/gender_equality-egalite_genres/trade_gender-commerce_genre.aspx?lang=eng (page consulted October 14th 2020).
10 Laura Cooper (2013). Canadian Women Grabbing the Baton, RBC Economics Research, http://www.rbc.com/economics/economic-reports/pdf/other-reports/canadianwomengrabbingthebaton.pdf (page consulted October 8th 2020).
11Global Affairs Canada (2019). Trade and gender connection, Government of Canada, https://www.international.gc.ca/trade-commerce/gender_equality-egalite_genres/trade_gender-commerce_genre.aspx?lang=eng (page consulted October 14th 2020).
Disclaimer
All documents prepared for the LEADING LENDERS project were developed in line with the most appropriate and recent terminology. However, we recognize that terminology is subject to change over time. To the best of our ability, we have attempted to use terminology that respects the dignity and rights of all individuals.
All documents prepared for the LEADING LENDERS project were developed in line with the most appropriate and recent terminology. However, we recognize that terminology is subject to change over time. To the best of our ability, we have attempted to use terminology that respects the dignity and rights of all individuals.
Share:
