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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

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Real Life Lessons:Engaging Communities, Stakeholders, and Rights HoldersWomen as Entrepreneurs:Transforming Economies

Tracey Scarlett

April 11, 2013

what is entrepreneurship
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
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 know1
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
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
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
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
The Landscape: Services for Entrepreneurs

Professional Advisory Services

Banks

$2M+ Peer Groups

Executive Coaching

Established

SR&ED Tax credits

Innovation Programs

Business Associations & Affinity Groups

Accelerator Programs

Stage of Business

Gov’t Lending programs

Business Incubators

Start-Up

Pre-Start-Up

Start-up Mentorship Programs

Business Information, Workshops

Business Plan Competitions

Transactional

Supportive

Service Offerings

the big question
The Big Question:
  • Are gender based initiatives still relevant?
food for thought
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 thought1
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 thought2
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
awe helping businesses realize success
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 question1
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

Thank you!

tracey.scarlett@awebusiness.com