Monday, October 2, 2023

Women entrepreneurs demand fair

Women entrepreneurs lament the lack of financing involved in the development of their businesses. They also criticize the fact that women-owned businesses mainly benefit from investments in the form of mentoring while their male peers have easy access to development funds. business.

Karima-Catherine Goundiam, founder and CEO of Toronto-based Red Dot Digital, wants to see a change in attitude. Stop being a mentee. We know how to do thingshe criticized.

He deplores this approach, because according to him, it allows governments to avoid taking responsibility. Women’s entrepreneurship investments are often small and embryonic. They don’t let you do anything important.

Karima-Catherine Goundiam.

Karima-Catherine Goundiam founded two companies, the networking platform B2BeeMatch and the digital strategy firm Red Dot Digital.

Governments are looking for organizations to teach women what to do, but better give more money to create real opportunities and grow businesses.

Ms. continued. Goundiam it is necessary change the small amounts that people receive because there is not much to do with it.

When teaching is no longer enough

Tania Saba is a full professor at the School of Industrial Relations at the University of Montreal. He believes that teaching is not enough. It should go beyond showing how to do it. This requires supply and financing policie she said.

Ms. Saba participated in the federal Women in Entrepreneurship Knowledge Portal project led by the Diversity Institute of the Metropolitan University of Toronto.

Teaching is good, but it is not enough. It will not give you funding. It will get you into networks, but if you continue to be marginalized, you won’t get many contracts.

Small and medium-sized businesses lack funding

Likewise, the Ontario Economic Corporation (SÉO) recognizes the lack of financing faced by women entrepreneurs.

This provincial agency is an incubator of programs that support women entrepreneurs, including those from visible minorities. It is certain that women have many challenges, but the problem of financing affects all small and medium enterprises. said Monique Hébert-Bérubé, economic development manager of SÉO.

Recent data from Statistics Canada reveals that businesses that are mostly owned by women suffered a decrease in profits in the first quarter of this year.

Business expectations

Businesses predominantly owned by women All businesses in the private sector

Increased operating costs 53.6 % 50.8%
Decrease in operating income 25,5 % 21.4%
Decrease in sales 19.7 % 15,9 %
Decrease in profits 40.2% 36.6 %

Canadian Business Conditions Survey, first quarter 2023.

Source: Statistics Canada

The pulse of financial institutions

For Caisse Desjardins, it is a question of perception than availability growth funds intended for female entrepreneurs.

Women entrepreneurs tend to ask for less (investment) and are less likely to come forward for support explains the general director of sustainable financing for business services, Nancy Goudreau.

Quoted by Ms. Goudreau is the program Entrepreneurial journey whose goal is to seek knowledge, get support, communicate with peers, have access to experts.

Nancy Goudreau Has Curly Hair.  He Was Wearing A Pair Of Glasses, A Jacket And A Tank Top.  He Smiled For The Photo.

Ms. Goudreau has over 20 years of experience in developing small and medium businesses.

She makes sure that women entrepreneurs at Desjardins are treated on an equal footing with men.

They don’t leave with less points or more difficulties.

In a written statement, the Royal Bank of Canada said it offers a wide range of programs to support female entrepreneurship. Mentoring is one of them.

It is important to empower and enable women entrepreneurs to realize their full potential through various means, including access to mentoring, financing, networking and training programs that create opportunities for growth. and development we read in this statement.

Bad practice for funding female entrepreneurship

Tania Saba and Karima-Catherine Goundiam also criticize the traditional factors considered in funding decision-making processes, historical patterns that disadvantage women.

It is very complicated administratively. We can’t be trusted like we trust men. comment of Ms. Goundiam. While in a man, we look at the potential, in a woman, we ask (her past results)he explained.

ICI Ontario Newsletter

Ms.  The Camera Lens Is Loud, Smiling.  He Was Wearing A Jacket And A Gold Chain.

Also founded by Ms. The BMO Research Chair in Diversity and Governance is busy.

Ms. Saba added in his part that although the financing programs are increasing, there is a concern on the part of the donors.

Businesses led by women perform better in terms of environmental, social and governance impact, he said. The business model of male-owned businesses doesn’t always achieve these goals, Saba said.

If we want to support female entrepreneurship, we need to change many concepts in society that go beyond business.added her part Ms. Goundiam.

Nation World News Desk
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