The federal government has announced a $2 million investment to support over 375 women entrepreneurs across Canada through training programs, personalized coaching, and networking opportunities.
The Minister of Small Business, Rechie Valdez, revealed the funding initiative, which will be delivered by Coralus, a non-profit organization supporting ventures led by women and non-binary individuals.
This project will provide training to over 375 women-owned businesses, covering topics such as fundraising, accessing capital, bootstrapping, and e-commerce. Coralus will also work to expand its reach by partnering with organizations that support diverse groups, including Indigenous entrepreneurs, newcomers, people with disabilities, 2SLGBTQI+ individuals, and those in rural communities. Personalized coaching and networking events are also integral parts of the initiative, aiming to create opportunities for women entrepreneurs nationwide.
The initiative complements the federal government’s ongoing Women Entrepreneurship Strategy (WES), launched in 2018 to address service gaps for women in the entrepreneurship ecosystem. According to the federal government, WES has provided thousands of women with the tools and resources to start or grow their businesses.
“The announcement is great news for women entrepreneurs across Canada and demonstrates our government's commitment to ensuring the full and equal participation of women entrepreneurs in our economy,” said Minister Valdez in a statement. “Together with partners like Coralus, we're helping level the playing field so that everyone who has a dream of opening their own small business is able to receive the support they need to succeed.”
Coralus founder Vicki Saunders highlighted the program’s impact on economic development. "Creating pathways for entrepreneurs to connect with one another and with influencers who are open to using their power to create change builds a stronger economy,” Saunders said.
The announcement builds on several investments the federal government has made to support women, including $10-a-day childcare, pay equity legislation, and pandemic funding for women entrepreneurs.
Member of Parliament Julie Dzerowicz emphasized the significance of empowering women in business. "Women entrepreneurs are vital to our economy, driving innovation, creating jobs and strengthening communities across Canada. This investment empowers women to access the resources, networks and support they need to thrive in business,” Dzerowicz said.