Double the number of women-owned businesses in Canada by 2025.
What success looks like
The number of women-owned businesses in Canada doubles to 340,000 by 2025.
Government's narrative on progress
The Women Entrepreneurship Strategy provides a nearly $2 billion investment across government to help reach the goal of doubling the number of women-owned businesses by 2025 by increasing their access to financing, talent, networks and expertise. Under the ISED portfolio, this includes a $20 million investment over two years to support women entrepreneurs under the Women Entrepreneurship Fund and a five-year investment of $85 million under the WES Ecosystem Fund to help non-profit, third-party organizations deliver support for women entrepreneurs and address gaps in the ecosystem. The demand for funding greatly exceeded available funds. Over 300 applications were received for the WES Ecosystem Fund. Funding decisions are expected to be announced in Spring 2019. Over 3,000 applications were received for the Women Entrepreneurship Fund. To support the government in achieving its goal, a diverse and talented Expert Panel on Women’s Entrepreneurship has been established to provide advice and identify opportunities and challenges for women entrepreneurs. In addition, across the government, the Strategy includes: providing $10 million over five years to connect women with expanded export services and opportunities through the Business Women in International Trade Program; providing $1.4 billion (up from $700 million) in financing to women-owned businesses through the Business Development Bank of Canada; and making available $250 million over three years, through Export Development Canada, to provide financing and insurance solutions, on commercial terms, for women-owned businesses that are exporting or looking to begin exporting. These collective investments are intended to support the goal of doubling the number of women entrepreneurs by 2025 (as committed to in the Innovation and Skills Plan).
Note: this is the government's own description, not an independent assessment.