canada - weconnect international · pdf filecanada’s top exports oil aircraft, ......
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CANADA
The economy of Canada is the 10th largest in the world, measured by nominal GDP and 16th largest by purchasing
power parity (PPP). The country is classified as the 2nd most impactful business environment for women owned businesses,
one of the G-20 major economies, and 17% of Canadian businesses are Women owned businesses (WOB)
(approximately 1.1MM).
The minimum wage
ranges from $7.50 within the Federal Jurisdiction to
$13.00 in Nunavut.
Canada is home to 39 billionaires as of 2015,
making the country the 10th largest pool of
billionaires.
GDP by sector:
Agriculture: 1.6% Industry: 28.9% Services: 70.5%
Labor Force: 19.3 million people Services: 76% Manufacturing: 13% Construction: 6%
Agriculture: 2% Other: 3%
• Ranked 2nd most favorable business environment for WOBs
• Growth of funding organizations (not WOB specific) • Growth of women business connection organizations • Mentorship for WOBs by business professionals has
increased over past decade • Sponsorship support - financially, educationally,
development and growth • Connections between women B2B, sharing of best
practices, and networking • Support of social work / professional service fields by
partner corporations
Canada’s major stock exchange, the Toronto Stock Exchange, had a market capitalization of
US$2.681 trillion as of May 2016, the 9th largest in the world.
ProfessionalServicesandManufacturingaccountforjustoverhalfoftheWOBsinCanada.TherehasbeengrowthinthemanufacturingindustrywhichhashelpedclosedthegapbetweenProfessional
Servicesbeingthedominantfield.
Canada’s Top Exports
Oil Aircraft, Spacecraft
Wood Aluminum Paper
Vehicles Machines Gems, Precious Metals
Electronics Plastics
Canada’s Top Industries
Professional Services Retail Trade Manufacturing
Technology Human Resources Food and Beverage
Wholesale Trade Business Support Other
Factor Analysis
Political • There is a lack of female representation in political positions. • There is a lack of supplier diversity initiatives by government. • Canadian Federation of Independent Business thinks requiring supplier diversity
is “unfair and “opaque”.
Economic
• 17% of businesses (about 1.1MM) are women-owned businesses. • There is a lack of national economic development strategy for women. • There is a lack of a supplier diversity agenda. • Greater Toronto Area has no women-specific funding programs (excluding
Government of Canada sponsored Women’s Enterprise Initiative Program). • Small Business Association sets aside funding contracts under $5MM in
manufacturing and $3MM in all other fields. • Canada is ranked 2nd in countries supporting women’s entrepreneurship, just
after the United States.
Societal
• There is a lack of women CEO role models. • Support and networking exists including WEConnect International in Canada,
the Toronto Business and Professional Women’s Club, Women Entrepreneurs Meetup.com Group of Toronto, and the Hamilton Immigrant Women’s Centre.
• Mentorship is available. • Women business owners have a difference competitive edge than men with
different goals and ambitions.
Factor Analysis
Technology
• The majority of women-owned businesses are in social work and professional services fields.
• Women-owned businesses do not incorporate technology into their businesses early on (partially due to lack of venture capital.)
• There is a lack of involvement, education and technological resources available to women-owned businesses.
Legal • There are no legal restrictions on the basis of gender.
Canada’s Business Landscape by Industry
WEConnect International Activity in Canada
Top Industries Represented
Professional Services Manufacturing Technology Human Resources Food and Beverage Wholesale Trade Business Support Transportation Retail Trade
Telecommunications Architecture Education Healthcare, Medicine
Barriers for WOBs can include: denied access to funding and capital, denied access to business training and market,
corporations feel WOBs should not receive special treatments, and lack of business education and training of
how to start up, sustain, and grow a business.