A province-wide study estimates Saskatchewan could see an economic boost of $17.6 billion per year if more women were encouraged to start, run and grow their own businesses.
Women Entrepreneurs of Saskatchewan (WESK) received funding from the Government of Saskatchewan’s Status of Women Office to explore avenues of scaling up women-owned businesses. With the funding, WESK assembled an Advisory Committee to identify recommendations that support the growth of women-owned businesses in Saskatchewan.
The Advisory Committee created a report titled Enabling Scale in Saskatchewan. Recommendations include new financial and mentoring supports for women entrepreneurs and developing scale-enabling policy. The report also identifies that the success of women entrepreneurs in Saskatchewan has a direct and positive impact on our economy, including job creation.
“I am pleased to hear this news and I am interested in following WESK and what comes out of this as I am a member,” said Alicia Simoneau owner/operator, the Pumphouse Athletic Club.
“As a woman entrepreneur for many years, it hasn’t been anything short of frustrating when it comes to securing capital to grow my business. Traditional funding is not easy to get, even after years of proven business track record you can’t just walk into the bank and they’ll help you.
“When it comes to growth and scaling - the banks aren’t on your side. Not even a little.
“I have personally had experience with feeling as though because I am a woman I am treated a little differently in some situations, not just with funding but other aspects of business as well, especially in an industry like mine that is typically male territory.
“I am happy to learn that access to needed capital and even focusing on female investors is something WESK is working on. This is great news for all the business women in Saskatchewan.”
According to the report, women entrepreneurs contributed $23.1 billion to the Saskatchewan economy in 2019 and were responsible for 191,836 jobs. However, more than 80 per cent of the province’s women-owned businesses have fewer than 10 employees.
“Saskatchewan has one of the highest rates of female entrepreneurship among all provinces, with one in every eight women employed running her own business,” Minister Responsible for the Status of Women Office Tina Beaudry-Mellor said. “We can build on this and be one of the best places in Canada for female entrepreneurs.”
Locally, women are an important part of business, offered Juanita Polegi, Executive Director of the Yorkton Chamber of Commerce.
“Yorkton is fortunate to have a number of women entrepreneurs running highly successful businesses,” she said. “While individually they employ only a few people, collectively, they employ a high proportion of the workforce. And they generously contribute to the community.”
The Enabling Scale in Saskatchewan report makes a number of recommendations to build on including:
• Enhancing access to capital;
• Developing scale-enabling policies;
• Streamlining access to data, programs and networks; and
• Enhancing awareness and support.
“Supporting women entrepreneurs is important to the success of Saskatchewan’s Growth Plan and our province’s future,” Beaudry-Mellor said. “I applaud Women Entrepreneurs of Saskatchewan and its Advisory Committee for their work and look forward to continuing to collaborate, adding jobs and opportunities in the process.”
Sarah Kowalchuk, Chair of Marketing with the local Chamber said the report is a positive step.
“Seeing reports like this makes me proud to be a business woman in Saskatchewan,” she told Yorkton This Week.
“Saskatchewan business woman are innovative, motivated and hardworking. But as business people we can also be stubborn and not always seek out or ask of advice or support. The initiative of WESK at enhancing access to capital will go a long way in insuring woman business owners grow.
“I can personally attest to how being a part of the local women's entrepreneur group, Everyday Heroes, has helped me expand my business skills with like-minded peers.”
Jessica Richards at The Scrub Hub in Yorkton noted that being a woman in business ultimately should not define her involvement in the sector.
“I have never thought because I am a woman I need any special treatment when it comes to business,” she said. “If there is a will there is a way.... but that was before I started to see the business world.”
Richards has come to appreciate being connected to others facing similar challenges that the new report may also help address.
“I decided to join Women Entrepreneurs as a member because I recalled my Mother being quite involved with the organization when I was young,” she said. “My eyes were opened at my first meeting with them where I learned the shocking differences between being a business person and being a woman in business. There is a shocking and drastic drop in women who have access to capital compared to men.
“I've heard in the short two-years that I have been in business, companies’ mention they don't want to make things more beneficial for women compared to men but they strive to make it equal. If several businesses are saying this, it tells me people are seeing that discrepancy and we know we still have a long ways to go to make it equal.
“I see women entrepreneurs all around me and that tells me the ball is rolling but we have only touched the tip of the ice berg. I can easily get on board with this movement.”
As well as supporting the efforts made by WESK and the Advisory Committee, the Status of Women Office is focused on increasing Saskatchewan women’s participation and prosperity. Currently, the Office is conducting a study to identity educational and entrepreneurial pathways for women in the science, technology, engineering and math fields.
Read the full report Enabling Scale in Saskatchewan online at https://wesk.ca/sk-advisory-committee/in-the-news/.
