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

Tracey ScarlettApril 11, 2013

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?• 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 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

• 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?

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

• 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

Stage of Business

Start-Up

Pre-Start-Up

Established

Service Offerings

Transactional Supportive

Banks

Professional Advisory Services

Business Information, Workshops

$2M+ Peer GroupsExecutive

Coaching

Business Incubators

Start-up

Mentorship Programs

Gov’t Lending

programs Business Plan Competitions

SR&ED Tax credits

Innovation Programs

Accelerator Programs

Business Associations

& Affinity Groups

The Big Question:

• Are gender based initiatives still relevant?

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 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 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

Demographics in Canada

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 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!

tracey.scarlett@awebusiness.com