Helping Women Get on TRACK

Transcription

1 Helping Women Get on TRACK BUILDING RESILIENCY THROUGH A BUSINESS MENTORING PROGRAM FOR PEI WOMEN ENTREPRENEURS Virginia McGowan PhD & Hannah Bell MBA A Prince Edward Island Business Women s Association Project Funded by Status of Women Canada

2 The rise in self-employment among women Income as a key social determinant of health Impact of the recession on job security and rise in selfemployment Women as over-represented among the under-employed = motivation across North America: Women-led start-ups increased by 68% Total women-led enterprise employment rates rose 11% Total revenues generated increased 72% 2

3 Canadian data: Recent rise in selfemployment among women January 2015: self-employment rose by 41,100 people; full-time jobs fell by over 5,000 (but note rise in part-time jobs) February 2015: self-employed up 15% from July 2014 (15.6% of all working) : self-employment rose 2.2%, largely among women years 3

4 4 Canadian women as entrepreneurs By 2011, contributed $148 billion in economic activity (RBC study) If increased total revenues by 20% over next 10 years, would add $2 billion to national economy BUT Typically under-estimate their potential for growth Less likely to be able to access capital Revenues remain comparatively low Most remain small or even micro High failure rate

5 Women have a hard go at running a business Passionate about their business, but lack business knowledge and skills such as financial matters Need to learn how to work ON their business, not just IN their business Generally, even the most successful, are impeded by Lack of confidence Low sense of entrepreneurial self-efficacy Face gender stereotypes ( just a hobby, mummy tracking) Unequal access to capital, contracts, and counselling/training 5

6 6 Why does mentoring work? The Mentoring Relationship builds resiliency Business knowledge and skills are learned Confidence is enhanced Entrepreneurial self-efficacy is strengthened Connects to business networks Transforms cognition and attitudes Develops the whole person: personally and professionally Encourages to take reasonable risks and learn from mistakes

7 7 PEIBWA s mentoring project Target: PEI women in urban and rural settings who wish to start or expand a business, but do not have access to a workplace mentoring program Objectives: To research and pilot a business mentoring program to promote and support Island women in entrepreneurship To develop a network of collaborating community partners Needs assessment phase completed September 2015: Pre-pilot survey of knowledge about opportunities and barriers Literature review of best practices Community consultations (info meetings, presentations, focus groups, interviews) Discussions with key sector leaders

8 8 The Island context 99% of PEI businesses in 2012 = small, most micro Largest sectors by employment: agriculture, bioscience, not-for-profit Fixed link (Confederation Bridge) only in place since 1997 Most economic activity is seasonal (agriculture, tourism) Severe winter storms shut down the province, impede suppliers Most rural of all Canadian provinces Relatively little immigration from outside of Europe and UK until recently Many women entrepreneurs work from home to accommodate responsibilities Cultural norms deeply entrenched

9 9 Key Factors to Consider Examined learning from needs assessment through a gender lens (GBA+) to understand diversity of women entrepreneurs unique experiences Consider factors that intersect with gender: age, culture, language, sexual orientation, education, ability, geographic location, immigration status, ethnicity, socio-economic status) Peer mentoring is a critical component to support women entrepreneurs Reduces isolation through network building Shows them that they aren t the only ones who struggle ONE SIZE DOES NOT FIT ALL

10 10 A Blended Mentoring Model Formal and structured, yet flexible Community-based and web platform supported Evidence-based and gender-informed approach, amenable to diverse contexts Mentoring concepts applied: Reflection personal and professional development Transformation Inclusivity Cultural appropriateness

11 11 How we will apply the model in 2016 Mi kmaq: Mentoring Circle (peer mentoring) guided by an Elder, complemented with a team of mentors drawn from across Mi kmaq territory (distance mentoring) Isolated Rural: Distance mentoring, complemented with peer mentoring Non-isolated Rural and Urban: One-on-one or team mentoring, complemented with peer mentoring.

12 12 Thank you! Hannah Bell MBA Virginia (Ginny) McGowan PhD PEIBWA Executive Director Mentoring Project Manager TEL: TEL: