The government of Saskatchewan has declared May 15 to 21 as Women Entrepreneurs Week, in honour of women entrepreneurs and their contributions to Saskatchewan. Entrepreneurs are economic growth engines. Advancing Gender Equality through economic activity has the potential to add $150-$420 billion to Canada’s GDP by 2026. According to a report titled “Enabling Scale in Saskatchewan” by the Saskatchewan Advisory Committee on the Gender Entrepreneurship Gap, women entrepreneurs contributed $23.1 billion to Saskatchewan’s economy in 2019 and produced 191,836 jobs. Furthermore, when a woman runs a firm in Saskatchewan, she is more likely to keep the company’s headquarters there.
“Through a variety of collaborations and financing programmes, the Status of Women Office supports their vital work. This year, the Status of Women Office commissioned a movie featuring three remarkable women entrepreneurs who embody the values we want to see grow in Saskatchewan: drive, tenacity, and invention.”
In November 2021, the government launched two new programmes and released its first data assessment on the role of women entrepreneurs to Saskatchewan’s economy. This was in response to recommendations from the “Enabling Scale in Saskatchewan” report.
The new Re-Skill Saskatchewan Training Subsidy, as well as the Digital Literacy for Entrepreneurs and Scale-up for Entrepreneurs Initiatives introduced in November, provide ongoing support for small businesses across the province. Saskatchewan also has one of the lowest corporate income tax rates in Canada for small businesses, as well as a comprehensive set of business incentives and tax credits.
Entrepreneurship in general wholly contributes to economic progress in a variety of ways. The most obvious way is to create new job opportunities. Entrepreneurs employ people on a small scale, giving them disposable income and establish money earning initiatives, which fuel the economy’s activity. They oversee job creation under various domains further creating a demand in occupations.
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