In Spring 2022, WEOC launched the Loans, Capital and Women Entrepreneurs Survey. Today, in celebration Global Women’s Entrepreneurship Day (Nov.19), WEOC is sharing the results of this survey: Bootstrap or Borrow? Improving Equity and Access to Financing for Women and Non-Binary Entrepreneurs in Canada.
Through a combination of online surveys, focus groups, and individual interviews, more than 1,000 women and non-binary entrepreneurs shared their attitudes towards financing; their experiences of accessing or attempting to access capital; and their insights into how to improve the lending/granting process.
"We have consistently heard from our members and ecosystem partners that an inability to access capital is stopping women from starting and scaling their businesses. This project allowed us to hear directly from entrepreneurs about their lived experiences. Thanks to their openness and insights this report outlines key issues within the current lending system and offers ways forward that address and eliminate those issues."
Alison Kirkland, CEO, Women’s Enterprise Organizations of Canada