onpoli:

The wage gap between men and women has been long-standing – with women
on average making 74 cents for every dollar of annual salary made by
men, according to the most recent Statistics Canada data – but research
from by PayPal Canada and consulting firm Barraza and Associates
suggests that this dynamic also applies to those who own small-and-
medium sized businesses as well.

Businesses owned by women generate an average of $68,000 less revenue
than men who run similar businesses, representing a gap of 58 per cent,
according to the online survey of 1,000 Canadian small and medium-sized
businesses between Jan. 26 and Feb. 28.

One barrier to growth for women-owned businesses is access to capital,
the survey suggested. Roughly 53 per cent of women-owned businesses with
an e-commerce component said it was “easy” for their company to get
business credit to grow their business, falling short of the 67 per cent
of men who reported getting loans with ease, the survey found.

The Liberal government has prioritized gender equality and increased
participation in the workforce. Among the many initiatives aimed at this
goal as part of its latest budget, Ottawa has allocated $1.4 billion
over three years from the Business Development Bank in new financing for
female entrepreneurs and $105 million over five years to help the
regional development agencies support women-led businesses.

In addition to the financing options offered, there are also advisory services available for female business owners. Other funding has been put towards getting more women into the workforce, especially in construction and male-dominated trades. However, the Liberals opted against increasing childcare funding in this year’s budget, even though they’re fully aware that high childcare costs are a barrier to employment for women.

Women-owned businesses generate $68,000 less revenue than men’s: survey