Spotlight on Women in the Future Economy

Women Leaders Entrepreneurship

Published on August 22, 2018

Isabelle Hudon / Co-Chair - G7 Gender Equality Advisory Council

Monique Leroux / Chair of the Board of Directors - Investissement Québec

Laura Didyk / National Lead, Women Entrepreneur Strategy - Business Development Bank of Canada (BDC)

Qudsia Ahmed / President of the Board of Directors - Young Women in Business

Women in Canada and abroad face unique challenges when starting their own companies and in terms of fully integrating into the workforce. This has traditionally been seen as a social and gender equality issue. But statistics show that supporting female entrepreneurs and employees is an important economic and business issue as well with considerable implications for national GDP and companies’ performance.
This Spotlight explores the challenges Canada’s female workforce and entrepreneurs face today, the value greater gender equality represents in terms of productivity and economic growth, and the ways in which we can bridge the gap to fully integrate and empower women in Canada’s future economy.

Key Takeaways & Calls to Action

Gender equality would increase Canadian GDP by $150 billion by 2026, so it is an important economic issue, not just a moral one.
The Canadian private sector should target at least 30% female representation in senior management roles in order to build momentum for gender equality at the top.
More diverse boards, ownership and employee bases generate higher revenues, larger profits and export opportunities.
The government needs to hold itself accountable to specific targets around gender equality within a reasonable timeframe. It also needs to better communicate the financing mechanisms that will lead to change on the ground and in the boardrooms.

Watch and Read the Experts’ Full Interviews:

The Diplomat Isabelle Hudon Co-Chair - G7 Gender Equality Advisory Council "Economic parity in Canada would translate into a $150 billion increase in national GDP in 2026 – an overall increase of 6%."

The Business Leader Monique Leroux Chair of the Board of Directors - Investissement Québec "To have some sort of critical mass and momentum, we need 30% female representation at the board level, executive committee level or in entrepreneurship."

The Investor Laura Didyk National Lead, Women Entrepreneur Strategy - Business Development Bank of Canada (BDC) "Although women constitute almost half of the workforce and Canadian women are starting businesses at a higher rate than their counterparts in all other G20 countries, only 16% of SMEs in Canada are majority women-owned."

The Youth Leader Qudsia Ahmed President of the Board of Directors - Young Women in Business "We need to achieve gender neutrality. The more we continue to highlight and segregate genders, the more we will propel this problem."