Canadian Grants for Women Entrepreneurs

What are grants for women entrepreneurs?

Grants are funding opportunities, often set sums of money, issued by various providers to help women start, grow, and scale their businesses. They can be from local, provincial, territorial, or federal governments, nonprofits, institutions, and private organizations, including public and private partnerships or corporations. Typically, grants aren’t small business or forgivable loans, so you don’t need to repay them. However, stipulations may exist regarding how the recipient can use the grant. Business grants often run on a schedule, like quarterly, annually, or every few years.

Each individual or business who applies for a grant must generally meet set requirements established by the granter. For example, the company may need to be in a certain province or territory, employ a specific number of people, fulfill an environmental or social impact mission, or generate a minimum or maximum revenue. Business grants for women entrepreneurs aren’t always well publicized and may have short application windows. You can stay informed about new grant and loan opportunities by networking with colleagues, signing up for women-centred business organization newsletters, and following relevant companies on social media.

Is it hard to apply for government grants for women entrepreneurs?

Applying for grants can be challenging. The process often involves gathering bank statements, tax returns, revenue documentation, and other business-related records. Although it can be time-consuming, confirming that your organization satisfies a grant’s requirements can be beneficial before you fill out your application. Because the female business owner landscape is diverse, so is the small-business grant availability. Once you apply for one grant, it may be easier to apply for future ones.

Canadian grants for women entrepreneurs

Canadian businesswomen have many ways to fund their startups, including loans, equity, and grants. Many business grants depend on your industry rather than your demographics and may only be available to nonprofit social enterprises. Some grants are national, while others are only available according to province or territory or those supported by local economic development groups. Below is a list of financing and grants geared toward women entrepreneurs and some industry-specific options:

Women in Trade

Export Development Canada’s (EDC) Women in Trade services help Canadian women-owned businesses succeed in international markets. They generally offer an array of financial solutions and resources. For instance, EDC’s Inclusive Trade Investments Program helps diverse female-owned businesses address underfunding challenges by providing equity capital.

Women in Technology Venture Fund

The Women in Technology Venture Fund offered through the Business Development Bank of Canada (BDC) helps women-led technology companies grow by investing in their businesses through loans, providing resources to boost their knowledge and growth, and soliciting Series B financing. Series B financing is a second round of funding issued by private investors to meet specific milestones beyond the startup stage.

Women Entrepreneurship Loan Fund

This fund typically offers microloans of up to $50,000 to women business owners and entrepreneurs to expand their companies and tap into new markets. Available through Innovation, Science, and Economic Development Canada, many government-recognized nonprofit organizations offer these loans, such as the Northumberland Business Development Assistance Corporation, the Women’s Enterprise Organizations of Canada, Coralus, the National Aboriginal Capital Corporations, and Evol. Each nonprofit has its own application and qualification guidelines to meet.

Women’s Enterprise Centre

The Women’s Enterprise Centre of Manitoba provides various resources and support for women entrepreneurs in Manitoba, including loans up to $150,000 for small businesses or startups wanting to expand their operations.

Alberta Women Entrepreneurs (AWE)

While AWE doesn’t provide grants, they have many loan lending programs for female-led small businesses in Alberta. They also have an expert business advisory team that helps entrepreneurs enhance and grow their companies.

The Scotiabank Women Initiative

The Scotiabank program generally offers various services, including accessing capital through loans for women entrepreneurs who own, partially own, or are starting a female-owned business.

WeBC

WeBC, formerly known as the Women’s Enterprise Centre of British Columbia, provides loans up to $150,000 to women entrepreneurs in BC. These loans are available to acquire a business, scale and grow startups, and expand business projects with flexible repayment terms.

PARO Centre for Women’s Enterprise

PARO is a nonprofit organization that helps empower women-led Ontario small business owners by promoting economic development through microfinancing programs. They offer many funding options for loans and grants for women and non-binary entrepreneurs. PARO also provincially represents the Women’s Enterprise Organizations of Canada’s National Loan Program, which provides loans up to $50,000.

Startup Women

While not specific to grants, Startup Women is available to early-stage entrepreneurs Canada-wide. This annual program offers topic-focused webinars, interactive one-on-one meetings with Startup Women industry leaders, and advisory circles.

Cartier Women’s Initiative Awards

Cartier Women’s Initiative Awards, operated by Cartier, INSEAD business school, and McKinsey and Company, offers a top prize grant of up to $100,000, with a runner-up receiving up to $30,000. This grant is available for female entrepreneurs whose businesses are in the early stages and follow a for-profit model.

Canadian Women’s Foundation

The Canadian Women’s Foundation (CWF) typically offers funds and programs for women, trans, non-binary, and two-spirit low-income individuals to start up a business or learn a skilled trade. They provide economic development grants every five years.

Canada Media Fund

The Canada Media Fund provides over $300 million annually to media-creating companies, ranging from films and television to software, video games, and apps. Eligibility requirements generally include being a for-profit business, developing projects primarily in Canada, and proving that the company will take the product to market. Businesses receive funding in different streams, like development, production, or marketing.

IFundWomen Grants

IFundWomen Grants offer grants for women entrepreneurs. They partnered with Visa Canada in 2022 to provide up to $10,000 through their “She’s Next Grant”. Eligibility requirements include being a legal Canadian resident and at least the age of majority in your province or territory at the time of entry, owning at least 51% of the business operating in Canada, and operating for at least two years. Applicants must also have a company that has products or services that generate revenue in the market. You can submit your universal grant application to IFundWomen Grants, and when grants you may qualify for become available, they will contact you.

Government of Canada

The government of Canada provides a database of business financing and grants at the national, provincial, and territorial levels. You can browse government-led financing programs, capital investments and loans, ways to reduce your business costs through tax credits, and grant details to help launch and grow your company.

Community Business Development Corporations (CBDCs)

Founded in 1975, CBDCs help startups and small businesses in Atlantic Canada grow and thrive by providing loans, loan guarantees, technical services, and equity financing to existing and aspiring business owners. This program is available to all business owners, with various programs suitable for varying organizational needs. CBDCs typically assist entrepreneurs who require customized financing unavailable from traditional sources.

Global Fund for Women

This fund invests in female groups that focus on advancing the human rights of women and girls. They offer support to women-led groups based outside of the United States. Global Fund for Women provides grants ranging from $5,000 to $30,000 yearly for project and operating expenses. First-time grant recipients typically receive between $5,000 to $13,000 annually. They value local expertise and firmly believe that women know best how to identify their needs and suggest lasting solutions for change. They maximize their impact in defending and expanding gains in women’s rights by focusing on freedom from violence, economic and political equality, and sexual and reproductive health and rights.

Eligible applicants are based outside of the United States, primarily focusing on advancing women’s human rights and equality. Businesses with the sole purpose of generating income or providing charity to individuals are typically ineligible. Females must govern, direct, and lead the organization and fill all or most leadership roles in decision-making. Women-focused projects in mixed-gender organizations may qualify for occasional support from the Global Fund for Women when working with marginalized groups, like women with disabilities or LGBTQI organizations.

This article is based on information available at the time of writing, which may change at any time. Indeed does not guarantee that this information is always up to date. Please seek out a local resource for the latest on this topic.

Please note that none of the companies, institutions, or organizations mentioned in this article are affiliated with Indeed.

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