Quebec strengthens its support for women’s entrepreneurship

Government entrepreneurship action plan

MONTRÉAL, May 3, 2018 – As part of the Government Entrepreneurship Action Plan (PAGE), the Quebec government will strengthen its support for women’s entrepreneurship through Femmessor by granting the organization a financial contribution that will reach $21.73 million by 2022.

Stéphane Billette, Minister for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development and Hélène David, Minister responsible for Higher Education and Minister responsible for the Status of Women, made the announcement today.

The enhanced funding announced will make it possible to:

• Increase the number of women-owned companies in Quebec;
• Implement support projects and services contributing to the success of women entrepreneurs;
• Provide them with access to various training and entrepreneurial skill reinforcement tools;
• Implement promotion and networking activities aimed at women business leaders;
• Showcase inspiring women entrepreneurs from the 17 Quebec regions.

Quotes:

I observe with great enthusiasm that more Quebec women are entering the world of business and women are increasingly interested in entrepreneurship. Last year, 51.4% of new businesses were led by women. More and more of them are contributing to job creation and wealth in all our regions. This increased financial support for Femmessor will help the organization increase its interventions with women entrepreneurs in Quebec in order to place even more value on the presence of women in this environment, fulfilling one of the goals of the Government Entrepreneurship Action Plan.

– Stéphane Billette, Minister for Small and Medium Enterprises, Regulatory Streamlining and Regional Economic Development

Women entrepreneurs are increasingly numerous in Quebec, although the challenges they face are still many. We are compelled to continue to act to help them realize their full potential. Femmessor is an important ally in our quest for gender equality in Quebec with respect to the economic empowerment of women, one of the major goals of the Government Strategy for Gender Equality Toward 2021.

– Hélène David, Minister responsible for Higher Education and Minister responsible for the Status of Women

Key points:

• From 1996 to 2016, the proportion of women among new entrepreneurs rose from 23.1% to 27.8%.
• As the main obstacle to creating or taking over a business, 28.1% of women (compared with 8.2% of men) mention the lack of self-confidence to sell their projects to others.
• Among the major obstacles, the debt accrued to complete procedures was mentioned by 18.2% of women, compared to 10.1% of men.
• Through 34 measures, PAGE is designed to achieve two ambitious and motivating goals by 2022:
  • Create 125,000 new businesses, or 2,000 more per year on average;
  • Have 3,500 high-growth companies, or about 50 more per year on average.
• Femmessor’s mission is to directly contribute to the creation, growth and acquisition of businesses headed and owned in whole or in part by women in the 17 regions of Quebec.
• Its funding offer, combined with support experience tailored to the specific needs of women entrepreneurs, will make it possible for them to build sustainable and successful businesses.
• The Government Strategy for Gender Equality Toward 2021 deals with women’s entrepreneurship in order to encourage women to deploy their entrepreneurial skills and contribute to the prosperity of Quebec.