Feds invest $4.2 million to support female-led businesses across region
Published Friday, August 9, 2019 12:38PM EDT
In a bid to support women entrepreneurs, the federal government has announced $4.2 million to support London-area entrepreneurs and the organizations that assist them.
Canada's Minister of Small Business and Export Promotion Mary Ng, said in a statement, “Our government believes that women’s economic empowerment is not just the right thing to do; it’s good for the bottom line. That’s why we launched the Women Entrepreneurship Strategy, a strategy that seeks to double the number of women-owned businesses by increasing their access to financing, networks and advice. It’s a smart investment with an economic and social return.”
Ng was in London on Friday, joined by local MPs to announce the Women Entrepreneurship Strategy (WES) investment, which is being administered through FedDev Ontario.
More than half-a-dozen businesses from Windsor to Kitchener will each receive $100,000 through the Women Entrepreneurship Fund.
Among them are Shaw's Ice Cream in St. Thomas, Borm Capital/ETBO Tool & Die in Aylmer, Stiris Research in London and A Couple of Squares, which is also London-based.
In addition, Pillar Nonprofit Network is receiving over $3.5 million to deliver the Women of Ontario Social Enterprise Network, which aims to "broaden and diversify the entrepreneurial ecosystem supporting women."
The funding will go toward supporting existing entrepreneurs, offering training and providing new capital through the Women Impact Investor Network.