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

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 Holders Women as Entrepreneurs: Transforming Economies

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  1. Real Life Lessons:Engaging Communities, Stakeholders, and Rights HoldersWomen as Entrepreneurs:Transforming Economies Tracey Scarlett April 11, 2013

  2. 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!

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. The Big Question: • Are gender based initiatives still relevant?

  10. 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)

  11. 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)

  12. 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

  13. Demographics in Canada

  14. 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

  15. 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

  16. Thank you! tracey.scarlett@awebusiness.com

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