Corrections to this ‘C’ Document.

1. Corrections to this ‘C’ Document. Corrections, editing and comments, are found in the Notes section of this PPT presentation. Helpful Suggestion: Print off the Notes page and use it to follow along with the presentation.

2. Canadian Women Entrepreneurs

3. “women entrepreneurs are one of the fastest growing segments of the Canadian Economy” Presentation looks at: • Why or what women need in starting or running a business? • What do women want as a reason for starting or running a business? • With the considerable challenges they face, how is it that women again rise to the occasion of fighting adversity set before them?

4. Agenda 1 - Introduction • Needs • Wants • Challenges

5. Agenda 2 - Traits These are … • Highly Educated • Average Age • Professional Organization • Trade Organization • Not immigrant • One-person • BC, AB, or ON

6. Agenda 3 – Final Comments • Summary – Needs & Wants • Summary – Traits • Summary – Challenges • Recommendations • In Conclusion • References • Question Period

7. Needs Flexibility Stay-at-home – women recognize the benefits of working from home. Lifestylers 60% of lifestylers; balance work and family. Age Economic; either poor working conditions or need for $ force them into SBE. Education Later in life; huge impact on the growing trend of women in SB. Employment Note following charts…

8. Income for Canadian Women Entrepreneurs( • Domestic (Childcare, Housecleaning, Retail, Food Services) • Career Professional (Management, Healthcare Providers, Educators) • Professional (Sales, Business, Financial) • Trades (Farming, Construction, Industrial) Married Women – 40% • 70% of CBW are married. • 1/3rd have children under 12. • “Sandwich generation” – have to care for children and aging parents.

9. Income for Canadian Women Entrepreneurs ( • Domestic (Childcare, Housecleaning, Retail, Food Services) • Career Professional (Management, Healthcare Providers, Educators) • Professional (Sales, Business, Financial) • Trades (Farming, Construction, Industrial) Single Women – 32% • For single entrepreneurial women there has been a 70% increase in income. • This has been at a rate of 3 times faster then men. Reasons for differences • Domestic (less likely to want to stay at home; or they find themselves in outside career orientated jobs). • Career Professional (affected by age). • Professional (affected by age; more willing to try out options available). • Trades (affected by age; higher proportion of young women in trades).

10. Wants According to an RBC study, women are less motivated by money then men. Women admit that they would on average make more money working for others over working for themselves. 69% of women and 64% of men note that they own their own business because of love for what they do. Therefore the findings are pretty similar among the genders. Women have less of a desire to be their own boss. Women are still not taken as seriously as men in the business world. Look at next slide.

11. Income by Gender Equality of revenue between women and men. • Still does not exist. • Women make significantly lower then men for the same job or profession. • Less than $50k – “traditional trades,” small sole proprietorship. • Women continue to make only 80 cents to the male dollar. • Although findings are showing that women are closing the gap.

12. Grand Challenges These challenges come from the article, “Women Entrepreneurs and Access to International Networks,” by Susan Ward. Found on about.com website, where the Women Entrepreneurs of Canada Network exists. • Equality of $$ • Personal Debt • Capital • Lack of Access • International Experience • Inadequate business information • Inadequate business technology

13. Basic Challenges Finding clients • International experience (a challenge) • Finding clients (challenge) • Being taken seriously. Steady Workload • If you don’t have clients then you do not have a workload. Working long hours • Women on average work longer hours then men. • Women traditionally and continually have more demands of family.

14. Trait 1 – Highly Educated • Notable return of women to education since 1990. • Annual rate of 25% of SBW have a university degree, which is double the rate of men. • According to CIBC’s 2005 report, as of 2004, 1 in 4 self-employed women were university educated. • With the rise of education for women this has put in reach higher employment quality and increased income for women. • Women do not want to be treated differently; even with the disparaging findings of the continuation of women being taken less seriously in comparison to men in the same job.

15. Educational Trends of Self-Employed Women According to EmpoweredWomen.com’s findings.

16. Trait 2 – Average Age • 96% worked for others before starting business • Average age 41-years-old • Over 55 – growth rate of 4% since 1989 • “lifestylers” and “seniorpreneurs” Education • Women are getting degrees and certificates at a later stage in life. • This plays an important role in starting their businesses at an older age, in comparison to men. Life • Older women are more comfortable with themselves, as well as being self-reliant. • Life experience influences better decisions. Extenuating Circumstances • Reasons for women being influenced to start their own business are the economy and negative work conditions. • Most women would rather return to paid work over starting their own business; the aforementioned reasons influence their decision to start their own business. • Rise in post-secondary education

17. Percentage of Self-Employed Women Rises with Age According to the CIBC findings: • Older women are more likely to start their own businesses. • This trend is going to play a huge role in the future of business, as well as for women as the population ages. • “lifestylers” fit into the <35-55 age group. • “seniorpreneurs” fit into the 55+ age group. According to EmpoweredWomen.com findings: • Sharp increase at age 35-years-old. Correlation between raising children and increased desire to start own business. • Also, confidence in women with age. • Maintaining a high level of business ownership past 50-years-old due to establishment of family and lifestyle.

18. Trait 3 – Professional Organization Professional Organization • On average women as sole proprietors belong to more professional organizations than men. • 40% women sole proprietors are members • Twice the rate of men • Why? Because increased education leads to increased professional occupations leads to professional organization memberships. • Women belong because they need to increase their networking, international experience, and business experience. Flip Side 1. Unincorporated is unique to women.

19. Trait 4 – Trade Organization • 40% of women who are sole proprietors are members of a trade organization. • Double rate of men • These organizations, as with the professional ones, provide networking. This deals with the challenge women find in obtaining new clients and increasing their workload. • Business prospects – again a response to the challenges women face.

20. Self-Employment of Women in Occupation Categories • Domestic (Childcare, Housecleaning, Retail, Food Services) • Career Professional (Management, Healthcare Providers, Educators) • Professional (Sales, Business, Financial) • Trades (Farming, Construction, Industrial) • Farms are still the leading business for both women and men entrepreneurs. • Education plays a huge role in the growth rate of women in knowledge-based and new technology industries. • Notice: “traditional” occupations are being over taken by more professional occupations. This shows a direct correlation between the increase in education and occupation choices women are now making.

21. Trait 5 – Not Immigrant • 1 in 5 not born in Canada. • In comparison, men are 1 in 4. • Women are outpacing business creation by men. • 30% outpace men. • Tend to be younger/more educated. • After 5 years – 9 in10 self-employed. • Turn to self-employment after 5 years, income source dries up. • After 5 years – no different than born here. • After 5 years, there is no notable difference between those born in Canada vs. those who have emigrated here.

22. Sources of Income for Immigrant Women Less than 5 years • 30% of income comes from “home” countries, governments, and family. More than 5 years • Only 6% comes from “home” sources. • These women now become a part of the Canadian landscape.

23. Trait 6 – One-person • 62.7% unincorporated sole workers • Growth less important • Personal services & retail sales sectors • Financially better off

24. Self-Employment: Women vs. Men According to CIBC study and looking at the data from EmpoweredWomen.com, women have a tendency to respond more to the economic cycle. 1990 – Men and women self-employment very similar. 2000 – From the late 1990s as the economy fell there was an increase in women being forced to start their own businesses or to work on their own. 2001 – As the economy started to correct itself, women were forced back into working for others. 2005 – Again women are on the rise again, but this time it is primarily due to negative working conditions. 2010 – EW predicts that statistics will soon show women holding their own. Men’s statistics tend not to make drastic changes, while women gain at a fair pace. This reflects the improved working conditions that women face when starting their own businesses or working for themselves.

25. Trait 7 – BC, AB, or ON British Columbia • 6.1% annual increase in SBE women • New Canadians from Far East Alberta • 4.8% annual increase in SBE women • Booming economy Ontario • 40% of country’s women’s SBE • 30% negative working circumstances

26. Self-Employed Women by Province Primary Growth (according to CIBC study, from 1989-2004) BC – approx. 90% growth in women becoming self-employed AB – approx. 75% growth in women becoming self-employed ON – approx. 55% growth in women becoming self-employed Problems in Eastern provinces primarily due to economy; for women it is a lack of skills and experience.

27. Summary – Needs & Wants • Employment • Flexibility • Age • Education • Wealth • Love • Equality

28. Summary - Traits • Highly Educated • Average Age • Professional Organization • Trade Organization • Not immigrant • One-person • BC, AB, or ON

29. Summary - Challenges • Equality of $$ • Personal Debt • Capital • Lack of Access • International Experience • Inadequate business information • Inadequate business technology • Finding clients • Steady workload • Working long hours

30. Recommendations • Business Attitude • Networking • Thick Skin

31. Women in Business Their RecommendationsFrom “Cracking The Corporate Market Difficult for Women Entrepreneurs,” from sbinfocanada.about.com. Database (set it up) • Supplier Diversity • Recognize organizations that “have supplier diversity in place.” • Access to Suppliers • Create a list of suppliers companies could access. Institution (set it up) • Government Support • Government (all levels) to support women by providing supplier diversity programs to help women market products and services. • Federal Contracts • Federal contracts tendered toward women.

32. In Conclusion “It is clear from the latest census results that women represent the future of self-employment in Canada.”

33. Thank you