The Northwestern Ontario Innovation Centre (NOIC), a business development agency which serves businesses across northwestern Ontario, recently shared its findings from four roundtable discussions and 32 entrepreneur spotlights that were conducted earlier this year in partnership with NACO.
One of the most striking revelations was the sheer number of women who own businesses in our region. Their stories reiterated similarities of starting with just a small loan, facing numerous hurdles in securing further financial support, yet forging ahead with unwavering resolve to turn their dreams into reality.
“I think as far as capital, there are a lot of hoops to jump through, And I think that’s probably my biggest issue”- Robbyn Fraser owner of Balloon Stylings.
However, amidst these challenges, there emerged a sense of camaraderie and solidarity among the women who participated in our discussions. Their openness and honesty were not only inspiring but also served as a catalyst for collective action.
“It’s been eye-opening to see the multitude of women driving businesses in our region. Their stories of resilience in starting and sustaining ventures are truly inspiring. What surprised me most was that many of these women don’t identify as entrepreneurs. This could be because the typical portrayal of an entrepreneur often excludes women. Additionally, through this initiative we witnessed the balancing act between home life and business that most women face, it’s commendable and deserves recognition,” said Carole Long, Business Advisor at NOIC.
Our reflections are not merely confined to admiration; they serve as a call for action. It’s imperative that we, as a community, continue our efforts in supporting women entrepreneurs, particularly those in the North who deal with logistical hurdles and exorbitant operational costs.
National Angel Capital Organization (NACO) is a professional association for angel investing, with 4000 members who have invested $1.54 billion in more than 2000 companies. They have launched a National Women’s Initiative, dedicated to mobilize angel capital for women led-companies.
The National Women’s Initiative is funded by the Government of Canada through the Inclusive Women’s Venture Capital Initiative, a key part of Canada’s first-ever Women Entrepreneurship Strategy.
To support the initiative, NACO is partnering with organizations across Canada, including NOIC. The initiative provided opportunities for connection, knowledge sharing, and storytelling.
Our heartfelt gratitude extends to NACO for their invaluable partnership, and we hope that our collective endeavors will yield tangible results in opening up capital avenues for women entrepreneurs.
