COVER FEATURE
PEI has more than its share of female business owners, and in typical Island- style, these entrepreneurs are eager to support each other in any way they can through groups and organizations across the Island. Ashley Green, leader of the Facebook Empower PEI Group (formerly, Girl Bosses of PEI) tells me, “We have about 915 members. Currently we’re offering as many educational workshops, seminars, and networking opportunities as we can.” In the future Green is hoping to offer small business grants, more opportunities to learn, and an online directory of members' businesses. “Overall, I think the advantage of the group is how quickly you have feedback, recommendations, advice, etc. at your fingertips.” explains Green, “ The casual atmosphere of the group and open, non- judgmental culture is a truly wonderful thing to be a part of every day.” PEI Business Women’s Association Executive Director Margaret Magner says, “Thanks to the support of our funders and more than 475 active members, the PEI Business Women’s Association (PEIBWA) strives to meet the growing needs of our clients from across the Island. Whether it’s providing one-on-one business development consulting, networking mixers or full-day events, we are here to help women in business, wherever they may be on their career path.” Statistics taken from the GEM [Global Entrepreneurship Monitor] Canada Report on Women’s Entrepreneurship 2015/16 state:
• Nearly 85 per cent of Canadian women surveyed indicated they were interested in starting a business. • Most are highly educated - the vast majority having college diplomas or university degrees. • 13.3 per cent were involved in newer businesses and 10% in established businesses (those operating for more than 3.5 years). For men the figures were 20.3 per cent and 7.1 per cent, respectively. • Globally, Canadian women rank first in terms of involvement with newer businesses, ahead of the U.S., Britain, and other innovation-based economies, and sixth for established businesses. • The consumer services sector accounts for over half (54.4 per cent) of early- stage female businesses, followed by business services at 28.2 per cent. • Female business owners are on average less likely to engage in international trade than their male counterparts. For businesses that had 25 per cent or more of their customer base outside the country, 31.7 per cent were run by women and 37 per cent by men. With a global pandemic affecting businesses not only on the Island, but worldwide, I've witnessed a surge of women entrepreneurs reaching out to advise, mentor and support each other. Many Island-owned businesses have been forced to adapt and innovate their ventures in order to survive. Simply doing business has changed and there will be a new normal when this has ended.
Looking at the past year, the national economy and job market were relatively healthy. In February, the country's unemployment rate was 5.6 per cent, and 245,000 jobs had been created in the previous 12 months. Due to COVID-19 they are predicting the unemployment rate could reach 85 per cent in some areas of Canada - unprecedented numbers. How are some local businesses innovating? Many have increased their online presence and are offering delivery for many of their products. Local coffee shops, breweries and restaurants are doing curbside deliveries and creating online ordering systems. Some have completely revised their inventory to coincide with customer demand, while others have joined the fight to flatten the curve by offering completely new products. For instance, Christine Zareck of Material Girl in Charlottetown is manufacturing vinyl shields to protect frontline and essential workers, and Upstreet Craft Brewing is now manufacturing Do Gooder hand sanitizer. One dollar from every bottle sold will be used to provide hand sanitizer to those non-profit and community organizations who need it most. These are just two of the many Island businesses that are stepping up to make a difference. As Islanders, we should be especially proud of how we're striving as a community to look out for each other.
Stay Strong and stay safe, PEI
WOMEN IN BUSINESS 2020
SPRING 2020 www.pei-living.ca
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