How the Government (and Pocketed) are Helping Women Entrepreneurs Thrive
Did you know that of all the small businesses in Canada, only 16 % are women-owned?
That, combined with the fact that, over 100,000 eligible working women have left the workforce since the pandemic, means a loss of a whole lot of economic power.
How the Government is Helping Women Entrepreneurs
Last week at the Forum Pitch Finals, we heard from the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, about the Government’s first ever Women Entrepreneurship Strategy that aims to get 55 billion dollars into the hands of women entrepreneurs across Canada. That’s a lot of money in the Pocket for women-led start-ups, small businesses, and side-hustles!
What exactly is the Women Entrepreneurship Strategy?
Access to funding, especially in smaller, more attainable, amounts, continues to be a huge barrier for women looking to grow and start their businesses. The Women Entrepreneurship Strategy (WES) helps ease the burden of financial barriers by supporting increased lending to women entrepreneurs. The initiative officially launched in March, and funding initiatives have already kicked off! The project is designed to support and empower the equal participation of women in the workforce.
The WES Inclusive Women Venture Capital Initiative
One of the initiatives currently underway is the WES Inclusive Women Venture Capital Initiative. It’s a 3-year non-repayable program that totals 15 million dollars in non-dilutive funding. It’s just one of the many grants you’ll find on our Pocketed Platform!
The WES Inclusive Women Venture Capital initiative is all about helping strengthen and build a more inclusive venture capital environment for women in Canada. Now that’s something we can get behind!
Projects currently being funded include initiatives that increase the representation and number of women in the venture capital industry. The West Capital Initiative, for example, is currently offering funding to women in the non-profit sector.
Sound confusing? We’ve got you covered! Register for your FREE Pocketed account and get instant access to grants like WES in under 5 minutes.
The Women’s Entrepreneur Loan Fund
Here’s a grant we’re excited to see launch! The Women Entrepreneur Loan Fund is the second stage of a two-step program that’s set to launch in the next few months. The first stage is complete and focused on securing funding for non-profit organizations.
Under the second stage, women across all sectors can apply for up to $50,000 in funding to support their business. That’s a lot of money for digital marketing, product development, technology — the solutions you need to grow your business!
How Pocketed Helps Women Entrepreneurs
Starting a business is hard. Money continues to be one of the biggest barriers to innovation and entrepreneurship, especially for women and equity-seeking groups. At Pocketed, we get it. Our women-led team have lived this pain as experienced founders themselves. That’s why they both decided it was time to build a better, simpler way for businesses to get the money they need to grow.
There are billions of dollars in free government money available every year in Canada with grants — and a lot of it goes unused. The funds under the Women’s Entrepreneurship Strategy are just two of the many examples.
Download your list of the Top 5 Grants for Women Entrepreneurs to take advantage of grants under the Women’s Entrepreneurship Strategy, and so many others, today.