The State of Women’s Entrepreneurship in Canada - 2023 Research Preview

The SOWE 2021 report and by enhancing our understanding of the barriers and SOWE 2022 report each examined the devastating impact drivers of women entrepreneurship, documenting the of the COVID-19 pandemic, as well as the innovation it entrepreneurial ecosystem and what works for whom, fostered. [...] > While there are challenges using data from different sources, we believe there is cause to be optimistic and that women-owned > The number of self- businesses are a growing employed women in Canada proportion of businesses decreased during the height in spite of the devastating of the COVID-19 pandemic impacts of the COVID-19 before rising to 988,400 pandemic. [...] 14 Conclusion and recommendations > The devastating effects of the > To continue to build momentum, COVID-19 pandemic on SMEs and we need to apply a gender and entrepreneurs and the amplified diversity lens to every dimension of impact on women, Indigenous the ecosystem. [...] to reconsider assumptions about the impact of investments in small > The WES “whole of government” businesses generally and women approach has heightened awareness entrepreneur in particular to align of gender bias in policies and better with Canada’s economic, programs, and created opportunities innovation, environmental, social for women entrepreneurs across and inclusion goals. [...] 15 > In addition to challenging bias > We know certain skills, supports and providing better access to and competencies are important financing, whether it be in the to the success of diverse women form of loans, venture capital entrepreneurs and that training or angel investing, we need to and support programs have develop innovative models that proliferated, but we need more meet the needs of wo.