Majority Staff Report of the US Senate Committee on Small Business and Entrepreneurship, July 2023
The Women’s Entrepreneurship Report from the U.S. Senate provides a detailed look at the barriers and opportunities shaping the landscape for women-owned businesses. While the report is U.S.-centric, many of its findings resonate with Canadian entrepreneurs, particularly as both countries navigate economic challenges, trade uncertainties, and shifting policies.
Key Themes from the Report
- Barriers to Growth – Women-owned businesses continue to face obstacles such as limited access to capital, underrepresentation in high-growth industries, and systemic biases in business networks.
- Funding & Investment Gaps – Women entrepreneurs receive a fraction of venture capital and business loans compared to their male counterparts, a trend mirrored in Canada.
- The Role of Policy & Support Programs – The report outlines how government and private sector initiatives can better support women-led businesses through targeted funding, mentorship, and procurement opportunities.
- Economic Impact – Women-led businesses are vital to economic growth, yet they remain disproportionately affected by financial constraints and policy shifts.
Why This Matters for Canadian Entrepreneurs
- Cross-Border Economic Trends – As trade tensions persist, understanding how U.S. policies impact women-owned businesses can help Canadian entrepreneurs anticipate economic shifts and advocate for stronger domestic policies.
- Lessons from U.S. Initiatives – Comparing funding programs and business support strategies can highlight areas where Canada needs to step up its efforts.
- Strengthening Local Advocacy – With global economic pressures and evolving trade relationships, Canadian women entrepreneurs can use this data to push for better funding access, stronger networks, and policy changes that support business resilience.
Read the full report to explore these insights and how they relate to the evolving economic landscape in Canada.