The Impact of COVID-19 on Women Entrepreneurs
The Women Entrepreneurship Knowledge Hub (WEKH) has been sharing information with its network on the new programs launched by the Government of Canada and collecting feedback on what is working and what could be improved to meet the needs of diverse women entrepreneurs.
This report reflects the feedback from more than 200 organizations in the ecosystem supporting entrepreneurs as well as over 100 individual entrepreneurs. The principal issues are:
- The focus on SMEs with employees excludes many women entrepreneurs who are more likely to be solo entrepreneurs or self-employed without employees but often with subcontractors;
- The focus on loans is challenging given women entrepreneurs’ attitudes and experience of debt;
- The focus on technological innovation excludes the majority of women-led businesses;
- Women need different forms of support and advice, and more intensive one-on-one supports
- With some adaptations, current programs, investments in the Women Entrepreneurship Strategy (WES) and innovations across the ecosystem, can be leveraged, replicated and scaled to better meet the needs of women entrepreneurs.
- Ensure gender and diversity analysis is applied to data being collected and shared on COVID 19, programs being developed, their uptake and impact. Continue to advance
Gender and Diversity playbook, training and transparency for funding agencies.
We have also compiled a list of resources to help support women entrepreneurs amid COVID-19. Find it here.