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Yorkton This Week | www.YorktonThisWeek.com | Wednesday, July 11, 2018

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— Nevertheless, she persisted —

Proud Owner of

ALL BOOKKEEPING

Parkland CPAP Services Inc.

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Proud Owner of

Proud Owner of

Body Poetry Fitness Studio

Living Wellness Acupuncture

Yorkton Hearing Service

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Sheila’s Place

Proud Owner of

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Tree of Life Wellness

Proud Owner of

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Proud Owner and Registered Acupuncturist of

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Proud Owner of

LR Future Insurance & Investments

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Realtor®

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Proud Owner of

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Proud Owner of

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Financial Advisor EDWARD JONES®

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Financial Advisor

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Proud Owner of

Forever Wellness Centre

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Proud Owner and RNCP of Better

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Proud Owner of

Florissima Flowers and Plants Florissima_1x35_ R0011585153.indd Women in Business 2018 bill

Proud Owner of

Proud Owner of

Let’s Make Wine

Budget Blinds

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Women Entrepreneurs: Think Big

Women entrepreneurs are becoming a driving force in the Canadian economy.

risk to get where they are. It’s never easy for anyone to start, grow and maintain a business.

About 50 per cent of all businesses started today are started by women. However, small and medium-sized businesses owned by women earn less than half the revenue of comparable maleowned businesses, according to data from BDC client companies.

I would encourage you to take a moment and consider how far you’ve already come as entrepreneurs, business owners and role models for other women, despite the bumps in the road. Trust in yourself and your ability to create value and you will succeed.

Part of this is a function of industry vertical—many women operate specialized consulting and service-oriented businesses that can be considered boutique in size.

But you do need help. Gender is irrelevant—no entrepreneur achieves success without the support, coaching and belief of others.

But that’s not the whole story. Women tend to grow their businesses organically. They often have a higher awareness of risk which can impact their decisions to seek the capital they need to accelerate the growth of their businesses. Negative perceptions about dealing with banks and other institutions lead many to avoid looking for external sources of funding.

It’s vital to connect and build relationships with the mentors, peers, professional advisors and others who can help you build a better business and become a stronger entrepreneur.

Risk is Part of the Job But I would remind every single woman entrepreneur out there who is running a viable business that it took some measure of

Relationships are Key Develop relationships before you need them. Connect with other women entrepreneurs and find mentors who will challenge you, guide you and invest their time with you. Seek out partners, organizations and associations that can support you and your business. They’re everywhere, if you know where to look.

Build a relationship with your banker, so you know what your bank needs from you to understand your business and see value in supporting your growth. Developing the right contacts, relationships and advice are all part of a solid business strategy.

The time is Now Now is the time to invest in your future success by getting the growth capital you need to develop new services or new products, reach new markets, or to boost the productivity and profitability of your business. Canada needs all the entrepreneurs it can get. Don’t be content with the status quo. It doesn’t matter if you are a small business with a local market, or a potential exporter of goods and services, now is the time to invest in your business. For the good of our economy, this isn’t an option, it’s a necessity. Lesley Lawrence

Senior Vice President, Financing and Consulting, British Columbia & North, at Business Development Bank of Canada (BDC)


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Wednesday, July 11, 2018 | www.YorktonThisWeek.com | Yorkton This Week

— Empower the women around you —

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Proud Owner of

Tracy’s on Broadway & Tracy’s Bridal

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Vacations Yorkton

Realtor®

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Proud Owner of

Proud Owner of

Step by Step Shoes

SHOPPER’S DRUG MART

Heart and Soul Healing Centre

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Proud Owner of

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Realtor®

Proud Owner of Rangeelaa-

Proud Owner of

Extravadance Studio

The Medicine Shoppe Pharmacy

Century 21 Broadway Park Realty

Bohemian Women’s Clothing and Home Decor

LH Accounting Services

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Proud Owner of

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Realtor®

Dance Innovations

Century 21 Broadway Park Realty

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Proud Owner of

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Proud Owner of

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Canadian Women are creating startups at the Highest rate among Women in the G20 Countries, a New Report shows.

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Canadian women are starting businesses at a higher rate than their counterparts in all other G20 countries, according to a new global report published.

considering some of the barriers they face in traditional employment.

How women are Contributing to the Economy

“Entrepreneurship is another avenue for women who have talent and ability and who want to take care of their own security and families.”

“Canada has seen a surge of entrepreneurship in our economy over the last 20 years, and women have been at the forefront, launching businesses at rates that often outpace men,” said Karen Hughes, a professor at the University of Alberta’s Alberta School of Business and Department of Sociology, and author of the 2015/16 biennial Global Entrepreneurship Monitor (GEM) Canada Report on Women’s Entrepreneurship.

Why women are Driven to go Solo

Women’s firms are also creating more jobs. “The majority of female entrepreneurs are employers (both in early-stage and established businesses), but there’s still a big group who are going it solo.”

“Now they’ve moved to first place from third, internationally, in terms of starting up and running businesses that are younger than 3.5 years. That’s 13.3 per cent of women in Canada compared with 10 per cent in 2014.”

“Only 15 per cent said their business was started out of necessity. So it’s not driven primarily by poor economic conditions, though this is an issue for some women. But most women are recognizing and identifying opportunities,” Hughes pointed out.

Hughes said that the increase, though not a dramatic jump, aligns with the high participation of women in the labour force. “It’s clear that women in Canada have a lot of interest in entrepreneurship, and this was shown in the attitudes measured in the report, as well.”

Women are more confident than ever, too, according to the GEM Canada study.

Gaining insight into women entrepreneurship is important for fully understanding women’s economic and leadership contributions, especially

There is also no gender gap in fearing failure in this year’s report, whereas in 2014, men reported greater confidence than women.

When asked what motivated women to be entrepreneurs—defined as any attempt at a new business or business venture, which could include being self-employed or expansion of an existing business—opportunity was cited the most.

“Four out of five women said they felt well prepared and capable of running a business,” she said.

The data also indicate that although job growth is expected in the future for established female entrepreneurs, early-stage female owners expect less job growth than men—a trend that is true for Canadian female entrepreneurs as well as those in other countries. “Those modest expectations for job growth do need to be considered,” she said. There is debate over how much Canada’s startup culture contributes to the economy, added Hughes. “My view is that women entrepreneurs have a lot of diversity, and they need to be supported and mentored to grow. Some women are seeking very high growth, some are running productive businesses contributing to local economies, and others are balancing work and family. These are all different ways of contributing to the economy and important parts of the picture,” she said. The full report is available online at gemcanada.org.

Profile for Yorkton This Week

Women In Business 2018-07-11  

Women In Business 2018-07-11  

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