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Female Entrepreneurs Remain a Relatively Untapped Resource for Economic Growth

Report by RBC Economics, 17 October 2013

Recognizing the high contributions of small and medium sized businesses to economic activity in Canada, RBC Economics assessed trends in the economic activity of small and medium sized businesses with a focus on majority women-owned firms.

The report estimated that a 10% increase in the number of female majority owned firms in the next 10 years would result in a net gain of $15 billion in economic activity.

The common characteristic of female majority-owners and businesses and potential barriers faced by female majority-owned firms were identified including maintaining sufficient cash flow, recruitment and retention, and access to growth capital.

The report suggested that addressing structural barriers through knowledge and resource sharing via female entrepreneur networks and promoting role models may catalyze expansion of women’s entrepreneurship in Canada.

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