Female entrepreneurs started two-thirds of new businesses in Canada last year.
Nearly 68 per cent of these women did not use outside capital. Was that because they didn’t need it? Maybe.
But more likely it’s because they couldn’t get it: only 4 per cent of venture capital goes to female entrepreneurs, who are notoriously under-financed.
SheEO, an organization dedicated to empowering female entrepreneurs to succeed in business, this week announced the launch of a grassroots campaign designed to transform the way women are funded.
“An Act of Radical Generosity” was launched in partnership with Toronto’s FreshBooks, cloud-accounting software designed for service-based small business owners.
The campaign is designed to provide Canadian female entrepreneurs with access to a support network of 1,000 fellow entrepreneurs across the country plus a pool of $1,000,000 to help fund 10 female-led ventures.
The deadline for applications is August 31.