Since 1995, the number of women running small businesses
in BC has grown from 97,000 to over 137,000.
Over the next 10 years, the number will almost double to 264,000.
Snapshot of Women Entrepreneurs in Canada
Canada's economic conditions have changed dramatically over the years. One of the most exciting aspect of this trend is the way in which women entrepreneurs have moved with confidence into the new economy.
BC has almost 360, 000 small businesses, and women own or operate about 35 per cent of them - the highest rate of small businesss ownership among women in Canada. Read our "Snapshot" below, and for more indepth information, see Reports and Studies >
Women Entrepreneurs on the Move
Women own and operate 35 per cent of small businesses in B.C. or almost 137,000 businesses, which is higher than the national average of just under 34%.
The number is expected to double over the next decade. In ten years, it is estimated that 264,000 B.C. women will own and operate businesses.
There are more than 821,000 women entrepreneurs in Canada.
Women in Canada make up a larger share of the self-employed than in any other country.
Women contribute in excess of $18 billion to Canadian economy each year.
Since 1976, the average annual growth rate for self-employed women has been 5.3% compared with 2.2% for men.
One-third of self employed Canadians are women.
Women entrepreneurs hold ownership in about 45% of Canadian small and medium enterprises.
The likelihood of self-employment with women increases with age and most women are aged 35 to 54.
Well over half (58%) of the self-employed are between the ages of 35 and 54, compared to only 48% of employees. While 40% of employees are under the age of 35, only 19% of self-employed business owners fit this description. At the other end of the scales, 24% of entrepreneurs are aged 55 and over compared to only 11% of employees.
The age of those who start a business is gradually increasing (currently 33% of startups are over the age of 45).
The most rapid growth is among women around 55 years.
Average earnings for women business owners are lower than for employed women.
17% of self-employed women make more than $30,000 a year, compared with 42% of men.
Half of self-employed women work at home.
Women tend to own firms in slower growth and higher risk sectors such as retail and service, in which access to financing is relatively more challenging.
Between 1990 and 2003, the number of women entrepreneurs rose from 27% to 33%, which may indicate that women stay in business longer and their survival rates are higher.
Small business trends show high levels of growth between 100% - 140% in management services, educational services, and professional, sciences and technical services.
The number of small businesses in Western Canada per thousand population is 40% higher than in the rest of the country.
One half of the numbers of self-employed men and women in Western Canada possess either a university degree or a post-secondary diploma.
More Trends, Reports and Studies >
SOURCES:
Prime Minister's Task Force on Women Entrepreneurs, Nov. 2003
BC Stats Small Business Profile, 2003
CIBC's Look at New Entrepreneurs in Canada, June 2004
HRDC Survey of Self Employment in Canada
A Portrait of Small Business Growth and Employment in Western Canada - Western Economic Diversification
A 2006 study by Karen Hughes, "Exploring Motivation and Success Among Canadian Women Entrepreneurs," sorts women's motivations for becoming entrepreneurs into three groups:
Classic Entrepreneurs: women who desire greater independence, challenge, self-fulfillment, control and improved financial opportunity.
Work-Family Entrepreneurs: women who seek control over their work-family balance, flexible hours and often, the ability to work from home.
Forced Entrepreneurs: women who open businesses because of an involuntary layoff and lack of opportunities.
Another study by Barbara Orser, "Dimensions of Perceived Success Among Canadian Business Owners," explores how small business owners perceive success as multi-dimensional; a mix of the following criteria:
Business Excellence - includes customer relations, product or service quality (on-time delivery etc.), market acceptance (product quality, recognition, etc.) and operating performance (inventory turnover, financial ratios, etc.)
Professional Achievements - includes maintaining professional autonomy (control over your career), pursuing intellectual activities (acquiring new knowledge, etc.), community relations and community recognition.
Financial Achievements - includes generating income (salary. financial security, etc.), organizational profitability (return on capital, net profit, etc.) and financial independence.
Personal Satisfaction - includes maintaining relationships with friends, family and partner, managing work/life demands, and ability to acquire personal goods (e.g. house, car, travel).
Read more about women's motivations and measures of SUCCESS here >
