In 2024, WeBC partnered with research and evaluation consultancy AND Implementation to listen deeply and learn from diverse entrepreneurs about what they need to feel supported in their business journeys, and how we can respond with programs and services that reflect their realities.

We share this report at a time when many organizations are being asked to scale back social justice efforts. Instead, WeBC offers this case study as an invitation to resist the pressure to back off of equity work: use it to spark conversation, promote co-learning, and explore what DEI could look like in your own organization. This is not a prescriptive toolkit, and we caution against replicating our approach without listening to your community and reflecting internally.

DEI work is complex, imperfect, and deeply personal to each organization, but it is necessary. We hope this report helps illuminate the resources required, especially the courage and humility it takes to change. We hope it inspires others to take action and encourages collective responsibility for change.

This DEI Case Study Report was created to share what we learned about the realities of advancing equity for women, non-binary, and gender diverse entrepreneurs across British Columbia, including limits we encountered along the way and work that still needs to be done.

Our process was shaped by the voices of entrepreneurs from priority groups—including Indigenous, immigrant, disabled, rural, and gender-diverse individuals—whose experiences and insights guided our recommendations and commitments.

The study was made possible through funding from Innovation, Science and Economic Development Canada (ISED) as part of the Government of Canada’s Women Entrepreneurship Strategy. Thanks to our funder for enabling us to dedicate resources to meaningful research, facilitated planning, and collective learning.

Cliquez ici pour télécharger ce rapport en français.

The post WeBC DEI Case Study Report: Building Belonging in BC’s Entrepreneurial Ecosystem appeared first on WeBC.

WEP recognizes the unique needs of women entrepreneurs, and supports financial inclusion by taking a holistic approach. The program includes financing from Vancity with wrap-around support services from WeBC, which include complimentary online education and resources on financial management, as well as professional business support and mentorship with a community of other women business owners throughout BC.

Leadership commitment to progress

When the program launched in 2020, it was not initially effective in increasing access to capital for women, as many barriers still existed in the application and approval process.

These barriers included a complicated application form, traditional definitions of risk, and a limited classification of years in business. Despite significant interest in the program, very few women were completing the application process and being approved for funding.

In response, the Vancity team showed leadership and commitment in recognizing the unique needs of women entrepreneurs and created new policies to address the gaps, including:

• Offering two types of financial products: an auto-approved line of credit up to $25k and a term loan up to $250k;
• Lowering the minimum credit score needed to qualify;
• Changing the definition of ‘new business’ to six months in operation vs. 12 months; and
• Educating the team on the support needed to guide women along the application process.

Advancing lending policies to be more inclusive

This is the first example of an internal policy shift that contributed to a more sustained systemic change to better serve the different growth pathways of women entrepreneurs. Vancity has led by example to show how financial institutions can implement new policies to recognize the needs of diverse women entrepreneurs in Canada.

WEP is a strong example of a values-driven initiative that has promoted genuine change in how women interact with financial institutions. It goes beyond a marketing initiative and considers how women create value with their businesses, define success, and need to be supported. This report shares the incredible impact of the program since its relaunch in 2021.

The post Vancity Women Entrepreneurs Program: Impact Report 2021 to 2025 appeared first on WeBC.

For 30 years, WeBC has been a vital resource for women entrepreneurs across British Columbia, offering financing, training, and mentorship to help businesses thrive. Recognizing the need to measure its impact, WeBC conducted this Impact Study to assess its effectiveness during the 5-year period from 2019 to 2024, and identify opportunities for growth.

This five-year impact report reveals a powerful truth: empowering women entrepreneurs isn’t just a
mission—it’s a movement that can redefine Canada’s economic future.

In the next 5 years, Canadian women will control early $4 trillion in assets (CIBC Capital Markets Report), igniting a historic wealth transfer that demands bold action. With women making up 38 percent of B.C.’s self-employed individuals, there’s an untapped economic opportunity waiting to be unlocked—potential that can reshape Canada’s economy, fuel job growth, and strengthen communities across the province.

Despite their immense economic potential, women entrepreneurs continue to face systemic barriers of access to capital and resources. WeBC exists to change that.

This report shows that women entrepreneurs who access WeBC programs consistently outperform national averages for small business survival, revenue growth, and job creation, thanks to the support we provide. The $8.5 million that WeBC has distributed in loans over the past five years has generated roughly $223 million in incremental revenue, over $131 million in economic impact, and 3,700 incremental person years of employment.

Every dollar lent by WeBC creates $15.44 in economic impact. And every dollar invested in WeBC’s support programs generates a 26x return.

If you read just one section of this report, start with the Executive Summary—three pages that capture our top insights, findings, and recommendations from the past five years.

The post WeBC Impact Report: 2019 to 2024 appeared first on WeBC.

The COVID-19 pandemic significantly affected small and new businesses across the U.S., particularly those owned by women, people of color, and entrepreneurs in historically under-resourced communities. The Kauffman Foundation’s report, “COVID-19 and Entrepreneurial Firms: Seeding an Inclusive and Equitable Recovery”, offers critical insights for designing more effective, inclusive, and equitable relief and recovery policies.

Key Insights from the Report

1. Aligning Equity with Economic Growth
   Relief programs that integrate equity and inclusion goals can support long-term economic resilience. Engaging diverse entrepreneurs in program development leads to more effective design and ensures initiatives meet the needs of all business owners.
2. Guidance on Reporting Metrics
   Government agencies must provide clear guidance on how to create and use standardized reporting metrics. These metrics are vital for assessing program impact and ensuring accountability in meeting equity objectives.
3. Purposeful Design with Feedback Loops
   Tracking inclusion metrics is only the first step—programs should also include built-in feedback loops to adapt and improve based on real-time data and stakeholder input.

By incorporating these recommendations, policymakers can design recovery initiatives that not only support economic growth but also build a more equitable and inclusive entrepreneurial ecosystem.

The post COVID-19 and Entrepreneurial Firms: Seeding an Inclusive and Equitable Recovery appeared first on WeBC.

Strong financial skills are key to running a successful business—yet many entrepreneurs feel uncertain when it comes to their numbers. This article from BDC highlights why improving your financial literacy can lead to better decisions, greater confidence, and long-term growth.

In this article, you’ll discover:

• The importance of financial literacy for Canadian business owners
• Common financial challenges entrepreneurs face
• Tips and tools to build your financial knowledge
• How understanding your finances supports smarter business decisions

Whether you’re just starting out or looking to strengthen your financial foundation, this article is a valuable read.

The post Entrepreneurs and Financial Literacy: The Situation in Canada appeared first on WeBC.

Are you a woman entrepreneur in Canada looking to grow your business? While the business landscape is always evolving, understanding past trends can offer valuable context. This page provides insights from a 2010 report analyzing the financing activities, challenges, and growth patterns of women-owned businesses in Canada. Please note that this report is 15 years old, and current conditions may differ.

Key Findings

• Significant Presence: Even in 2010, women-owned SMEs represented a substantial portion of the Canadian business landscape.
• Unique Characteristics: The report highlighted that women entrepreneurs often bring different experiences and operate in diverse sectors.
• Financing Access: The 2010 data indicated that while women-owned firms were as likely to seek financing, they might have faced challenges in securing approval, particularly for short-term debt.
• Growth Potential: The report suggested that firms with growth ambitions, regardless of gender, demonstrated stronger performance.

Recommendations

• Address Financing Barriers: The 2010 recommendations included initiatives to mitigate challenges women faced in accessing financing, such as credit history or collateral requirements.
• Focus on Growth Intentions: The report emphasized the importance of understanding the specific needs of women entrepreneurs based on their growth goals.

Access the full report for a detailed analysis of the 2010 landscape.

The post SME Financing Data Initiative October (2010) appeared first on WeBC.

Understanding the entrepreneurial ecosystem is crucial, as it highlights the connections of business service providers and their role in supporting entrepreneurs. By embracing our network and working together, we can collaborate, address service gaps, and leverage the unique strengths of each organization to support more women-owned businesses across BC.

The post 2023 BC Entrepreneurial Ecosystem Survey appeared first on WeBC.

The State of Women’s Entrepreneurship (SOWE) annual report is a go-to resource for the most complete picture of research on women’s entrepreneurship in Canada. It spans sectors and regions across the country.

Some of the top findings from the 2023 SOWE report?

• In 2022, 988,400 women in Canada were self-employed.
• The number of women-owned businesses is growing—despite the crushing impacts of the COVID-19 pandemic.
• By our estimates, 18% of all businesses are majority owned by women in Canada—with more than 99% of these small and medium-sized enterprises (SMEs).
• Women-owned businesses focus more on innovation and are much more likely than men-owned businesses to put in place marketing innovations.

While these show women entrepreneurs are making progress, they continue to face challenges. Women have a hard time getting credit through financial institutions. They may not qualify for a loan, because their businesses tend to be smaller, have fewer employees and be in industries hit hard by the COVID-19 pandemic, like retail and hospitality. They also get less funding: the average amount of financing for men-owned businesses is about 150% higher than that for women-owned businesses.

The challenges are even greater for women with intersecting identities.

• Indigenous women face barriers when accessing western financial services due to systemic exclusion that prevents them from meeting basic approval criteria.
• Financing and borrowing costs for Black women entrepreneurs remain challenging; and they, like Indigenous women, must grapple with systemic racism, along with a lack of networking opportunities, mentorship and training.
• Less than 1% of Canadian SMEs are owned by people living with a disability; the data is lacking on how many of these are women entrepreneurs.
• There are more than 100,000 businesses in Canada owned by people who identify as 2SLGBTQ+, contributing more than $22 billion in economic activity. Yet these entrepreneurs face identity-related challenges, including discrimination, difficulty obtaining funding and government assistance, and harsh public evaluation.

Want to learn more about the barriers, enablers and progress in women’s entrepreneurship? Read the full report and stay tuned for sector- and region-specific insights and proposed solutions.

Additional WEKH Reports:

• The State of Women’s Entrepreneurship in Canada 2020
• The State of Women’s Entrepreneurship in Canada 2021
• The State of Women’s Entrepreneurship in Canada 2022

The post State of Women’s Entrepreneurship in Canada 2023 appeared first on WeBC.

Dive into Startup Canada’s 2022 report, offering a detailed snapshot of the entrepreneurial landscape across the country. This report highlights the ongoing challenges, emerging opportunities, and critical trends that define Canada’s entrepreneurial ecosystem.

Key Takeaways from 2022:

• Post-Pandemic Recovery: Insights into how entrepreneurs adapted to economic shifts and challenges post-COVID-19.
• Barriers to Growth: Explore persistent challenges like funding accessibility, scaling businesses, and navigating market competition.
• Support Systems: The role of mentorship, government programs, and community networks in supporting entrepreneurial resilience.
• Driving Inclusion: A focus on the experiences of underrepresented groups in entrepreneurship and pathways to greater equity.

Though published in 2022, the findings remain relevant for understanding the entrepreneurial ecosystem and guiding efforts to support business innovation and growth.

The post StartUp Canada: The State of Entrepreneurship in Canada (2022) appeared first on WeBC.

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.

Diverse women entrepreneurs, including Black women and other racialized women, Indigenous Peoples, persons with disabilities, and 2SLGBTQ+ individuals, have been among those most affected.

Despite the array of challenges, women entrepreneurs have demonstrated an incredible resilience, ingenuity, and ability to innovate amid uncertainty.

This report provides an update on the state of women’s entrepreneurship in Canada based on a synthesis of existing research and the results of new research.

It begins with an overview of the characteristics of women’s entrepreneurship in Canada, before delving into the impacts of the COVID-19 pandemic on women entrepreneurs, the profiles and experiences of diverse women entrepreneurs, and the enablers and barriers in the women’s entrepreneurship ecosystem at the societal (macro), organizational (meso), and individual (micro) levels.

Additional WEKH Reports:

• The State of Women’s Entrepreneurship in Canada 2020
• The State of Women’s Entrepreneurship in Canada 2021
• The State of Women’s Entrepreneurship in Canada 2023

The post State of Women’s Entrepreneurship in Canada 2022 appeared first on WeBC.

The BC Small Business Profile is an interactive online tool that provides comprehensive data on small businesses in British Columbia. Users can explore various metrics, including the number of small businesses, employment statistics, and industry-specific information.

The platform offers customizable visualizations, such as charts and graphs, to facilitate data analysis and comparison across different regions and sectors within the province.

This resource is invaluable for entrepreneurs, researchers, and policymakers seeking to understand the small business landscape in British Columbia.

The post Small Business Profile – BC Stats appeared first on WeBC.

On September 8, 2022, we hosted Aleha McCauley and Kim Buschert from UBC Library to learn about the typical questions secondary market research can answer, sources to find high quality data and how libraries can help you access the information you need to help make your business competitive at any stage.

In this session, we talked about:

• How to find industry reports, statistics and data
• Tips so you can make the best use of your research time
• What business resources UBC library can offer the public

Learn tips and tricks to doing efficient secondary research that can bolster your business plan!

Facilitator: Neta Raz, Project Manager, WeBC

Panelists:

• Aleha McCauley, Community Engagement Librarian, UBC Vancouver
• Kim Buschert, Faculty of Management Librarian, UBC Okanagan

The post Secondary Research for Businesses: Tips for Small Business Owners appeared first on WeBC.