Women-owned and jointly-owned businesses on the rise in Sask.

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Based on a just lately launched Stats Canada report, between 2005 and 2013, Saskatchewan led the nation in progress of companies owned or jointly-owned by girls.

Whereas women-owned companies have gotten extra frequent, they nonetheless make up a small fraction in comparison with males.

However based on Prabha Mitchell, CEO of Ladies Entrepreneurs Saskatchewan, the report doesn’t paint the whole image.

“For those who take a look at majority-owned feminine enterprises and majority female-owned enterprises solely, Saskatchewan lags behind the nationwide common,” Mitchell stated. “Ladies-owned companies account for 13.7 per cent in Saskatchewan [compared to] 15 per cent nationally and is highest in B.C. and Ontario at 17 per cent.”

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Mitchell added, girls proceed to face a number of limitations together with entry to capital, networking and discovering a work-life steadiness.

“A male-owned enterprise is three.5 instances extra more likely to hit a million than a female-owned enterprise is,” Mitchell stated. “The majority [of] female-owned enterprises are predominately within the service sector, when you discover that predominately male-owned enterprises and equally owned enterprises span varied sectors whether or not it’s manufacturing, agriculture, mining, oil and fuel.”

Lynn Armstrong is a Saskatchewan-based entrepreneur who left her profession in 2011 to begin a technique and communications enterprise. From there, she purchased Sky journal and in 2016 her personal retail retailer Zoe.

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“Actually what I needed to be taught was how one can be an entrepreneur and how one can perceive unbiased enterprise,” Armstrong stated. “Within the company world there’s much more sources and within the unbiased enterprise world you might be your useful resource.”

For Armstrong, she stated it comes right down to discovering the correct individuals, creating marketing strategy, together with a nicely thought out imaginative and prescient.

“You actually have to search out your tribe, you’re individuals, the those that join with you,” Armstrong stated. “The recommendation that I give to girls who need to begin there personal enterprise is to start with, for my part, if in your marketing strategy your danger evaluation doesn’t terrify you actually haven’t dug deep sufficient.”

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Between 2005 and 2013, female-owned companies grew from 233,000 to 309,000 throughout the nation.


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