Launched in 2018 by the Government of Canada, the Women Entrepreneurship Strategy (WES) aims to enhance women's economic empowerment by providing access to financing, talent, networks, and expertise for women-owned businesses.

Here are some of the highlights from the 2023 State of Women's Entrepreneurship in Canada report:

• Comprehensive Approach—The WES represents a "whole-of-government" strategy, involving nearly $7 billion in investments and commitments from nearly 20 federal departments, agencies, and Crown corporations.
• Budget 2021 Investment—In Budget 2021, the Government of Canada announced additional investments of $146.9 million over four years, starting in 2021-22, to further strengthen the WES.
• Impact of COVID-19—The COVID-19 pandemic disproportionately affected SMEs and entrepreneurs, with amplified consequences for women, Indigenous Peoples, and diverse entrepreneurs.
• Sector Concentration—Women entrepreneurs are often concentrated in the services sectors, but success stories span various industries.
• Challenging Gender Bias—The WES has increased awareness of gender bias in policies and programs, offering opportunities for #women entrepreneurs across different sectors.
• Building Momentum—To sustain progress, there is a need to apply a gender and diversity lens to every aspect of the entrepreneurial ecosystem, challenging assumptions and stereotypes.
• Reconsidering Assumptions—Fundamental reconsideration of assumptions about the impact of investments in small businesses and women entrepreneurs is necessary to align better with broader economic, innovation, environmental, social, and inclusion goals.
• Access to Financing—Efforts should focus on improving access to financing through loans, venture capital, or angel investing, with the development of innovative models tailored to women's needs, increasing accountability and transparency.
• Global Markets & Procurement—Continued efforts to enhance access to global markets and procurement opportunities are essential.
• Addressing Systemic Bias—There is a call to systematically examine and eliminate bias and barriers within the entrepreneurial ecosystem, involving government agencies, financial institutions, incubators, accelerators, educational institutions, and intermediaries.
• Evaluation of Support Programs—While various training and support programs for women entrepreneurs exist, there is a need for more evaluation to determine effectiveness for different individuals.
• Importance of Data—The collection and analysis of disaggregated data on entrepreneurs, based on gender and other characteristics, are crucial for understanding barriers, enablers, and progress in women's entrepreneurship.

You can download the full report here: WEKH_State_of_Womens_Entrepreneurship_in_Canada_2023-X.pdf

In line with the commitment to fostering diversity and inclusion, merchants.ca proudly supports women entrepreneurs across Canada. By providing a comprehensive range of industrial paper and cleaning supplies, we aim to empower women-led businesses with the tools they need to thrive. Our dedication to supporting women entrepreneurs aligns with the broader vision of creating an inclusive and vibrant business landscape, where every entrepreneur has the opportunity to succeed. 

At merchants.ca, we believe in the power of diversity, and we are honored to play a role in supporting the growth and success of women in business.

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