Small businesses are at the heart of Canadian communities and are the engines that drive local economies. Their success is critical to accelerating inclusive growth that benefits everyone.
The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, visited Manitoba and British Columbia from August 15 to 18 to meet with diverse Canadian entrepreneurs, business owners and small business organizations. She discussed the government's ongoing efforts to support them by breaking down barriers so they can access capital, adopt digital technologies, export into new markets and create good local jobs.
On August 15 in Winnipeg, Minister Ng announced that Women's Enterprise Organizations of Canada (WEOC) will start providing loans of up to $50,000 to women entrepreneurs and business owners this fall through the Women Entrepreneurship Loan Fund. A key part of the $6 billion Women Entrepreneurship Strategy (WES), the Women Entrepreneurship Loan Fund provides women entrepreneurs across the country with much-needed capital so they can start up, scale up and succeed. With the expansion of the loan fund through WEOC, nearly $30 million will be invested in women-owned businesses.
While meeting with local Manitoban Filipino business owners, Minister Ng announced that she will be visiting the Philippines on September 19 and 20, 2022, to strengthen trade and people-to-people ties between the two countries.
In British Columbia, the Minister met with the South Asian Business Association of British Columbia in Surrey, where she underscored the progress being made on negotiating an early progress trade agreement with India and talked about other supports to help small and medium-sized businesses expand into markets around the world.
Minister Ng highlighted the importance of rural and Indigenous economic development during her meetings with business owners and organizations in Osoyoos and Kelowna, including Nk'Mip Cellars, Crush Dynamics, Gorman Bros. Lumber and Northern Cherries. She concluded the tour by joining Accelerate Okanagan, a business accelerator, to discuss how federal investments through the Women Entrepreneurship Strategy and the Venture Capital Catalyst Initiative are supporting women entrepreneurs in STEM fields through capital, networks and mentorship.
Boosting economic recovery, supporting diverse entrepreneurs and accelerating the digital transformation of Canadian businesses will help them stay competitive while creating jobs and growing the economy.
