Advice for women entrepreneurs from women entrepreneurs

Hello and welcome back to The Small Business Update Presented by Mastercard! Recently, Mastercard sponsored a virtual panel in partnership with The Globe and Mail on the top tactics for business success for women entrepreneurs. 

The panel of accomplished business leaders and women entrepreneurs included Joanna Griffiths, Founder and President at Knix and Kt by Knix, Althea Johnson, Founder & Kbeauty Expert at Proprlifestyle, and Sarabeth Holden, Owner at Red Tape Brewery. The session was moderated by Chris Hannay, Independent Business Reporter at The Globe and Mail. The discussion centred around navigating the unique challenges faced by women entrepreneurs, including the lack of access to capital, mentors and a support network. Stories were shared, advice was given and strategies to start, grow and scale your business were explored. 

There’s no doubt the discussion helped attendees feel both inspired and better equipped to take on their own entrepreneurship journeys or better navigate an existing one. The discussion included: 

• Obstacles women business owners face when trying to gain financing in Canada 

• Challenges small business owners face that people may not know about 

• How large corporations can play a role in helping small businesses succeed 

• Support Canada could offer small business owners to increase their chances of successfully launching and growing a business 

There’s no lack of passion or drive to succeed for women entrepreneurs, but the unique barriers faced by this group of small businesses can unfortunately hold them back. In fact, according to StatsCan, while Canada is ranked one of the top three countries globally for supporting women entrepreneurs, only 17.7% of businesses are majority owned by women. At Mastercard, we believe everyone, including large corporations, have an important role to play in helping small businesses succeed and creating a more inclusive economy that benefits everyone.   

Be sure to check out the full webinar (available HERE) to gain first-hand insights from a panel of experienced women entrepreneurs and business leaders. For more information on resources available to small businesses, check out the Mastercard business resource centre.