Small and medium-sized enterprises (SMEs) and sole proprietorships are the drivers of the Canadian economy, accounting for the vast majority of all businesses in the country.
For over two years, these businesses have been battered by the social and economic impacts of the COVID-19 pandemic. Those in the service sectors, where women-owned businesses tend to concentrate, have been hardest hit.
The Women’s Entrepreneurship Knowledge Hub (WEKH), which is led by Ryerson’s Diversity Institute’s founder, Wendy Cukier, just released its latest analysis of new and existing research from the State of Women’s Entrepreneurship in Canada 2022. The report finds that rates of women entrepreneurship remain steady, and in the face of unprecedented challenges, women entrepreneurs remain optimistic and have continued to exhibit great resilience and innovation.