Minister Ng Participates in Canada’s Feminist Response and Recovery Summit


OTTAWA (ON), March 9, 2021 /CNW/ – The Government of Canada is committed to supporting women entrepreneurs during the COVID-19 crisis and ensuring that Canada has a feminist recovery.

Today, the Honorable Mary Ng, Minister of Small Business, Export Promotion and International Trade, delivered remarks at from Canada Feminist Response and Recovery Summit, presented by the Honorable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development.

The Summit brought together politicians, experts, feminist leaders and people with lived experience to examine how COVID-19 is impacting the lives of women in Canada. It focused on actions that governments, civil society and all Canadians can take to advance gender equality and ensure an inclusive recovery.

Minister Ng also facilitated a breakout session titled “Women in the Economy” with economic leaders and businesswomen from around the world. Canada to discuss the unique and systemic barriers faced by women, as well as groups such as black and racialized women, Indigenous women, and LGBTQ2 people. They discussed working together to overcome these barriers so that all Canadians can participate in, contribute to and benefit from the economy.

It is estimated that increasing women’s participation in the economy could bring up to $150 billion to from Canada GDP. The government of Canada continues to advance women’s economic empowerment with the first-ever Strategy for women in entrepreneurship, a nearly $5 billion cross-government initiative to increase access for women-owned businesses to finance, talent, networks and expertise to succeed. During COVID-19, the government is also investing an additional amount $15 million in the WES Ecosystem Fund provide timely support and guidance to women entrepreneurs facing challenges due to the pandemic.

As Canada is tackling the pandemic and moving forward on the road to recovery, the government of Canada will continue to support women, especially women entrepreneurs, at every stage of their journey.

Quote

“After a difficult year that had a disproportionate impact on women, we know that their inclusion and empowerment is the way forward. Our government is promoting the success of women in a kaleidoscope of ways, from pay equity legislation and income support to raise children, to investing in programs to ensure the growth of owned businesses. by women Canada and around the world. More than social policies, these important economic measures will be essential to our recovery from COVID-19. »
– The Honorable Mary Ng, Minister of Small Business, Export Promotion and International Trade

“COVID has hit women hard, but we have put in place the necessary supports to ensure the pandemic does not roll back progress on gender equality. Our government has a plan to create a million jobs, which includes investments to ensure diverse women have access to the job training they need to take advantage of new opportunities. Throughout the past year, women small business owners have kept our communities and main streets prosperous, and we continue to support them with new investments in the Women Entrepreneurship Strategy. keep women safe and healthy and ensure their voices are heard throughout the response and recovery. »
– The Honorable Maryam Monsef, Minister for Women and Gender Equality and Rural Economic Development

Fast facts

  • the Strategy for women in entrepreneurship (WES) is almost $5 billion investment to help increase women-owned businesses’ access to the financing, talent, networks and expertise they need to start, grow and access new markets. Government Fall 2020 Speech from the Throne committed to accelerating the work of WES, which has already helped women across Canada grow their businesses.
  • In the spring of 2020, the government of Canada also provided extra $15 million for the WES Ecosystem Fundenabling existing grantee organizations to provide thousands of women entrepreneurs with access to emergency business support during the COVID-19 pandemic.
  • To support Canadians during COVID-19, the Government of Canada introduces the largest relief program in our country’s history, which includes the following major programs for business owners and their employees:
    • the Canada Emergency wage subsidy (CEWS) helps businesses by covering up to 75% of payroll. The current structure is extended to June 5, 2021.
    • Expansion Canada Emergency business account (CEBA) offers an interest-free loan of up to $60,000 with 33% forgivable if reimbursed by the 31st of December2022.
    • the Canada Emergency Rent Subsidy (CERS), accessible directly to entrepreneurs, covers up to 65% of the rent. Businesses will receive the new additional 25% containment support when a shutdown is required by a public health order. This means they can have up to 90% of their rent covered. The current structure is extended to June 5, 2021.
    • the Credit Availability Program for Highly Affected Sectors (HASCAP) will offer loans at a fixed interest rate of 4% in all financial institutions for terms up to 10 years, and 100% guaranteed by the Government of Canada. Companies can apply up to June 30, 2021.
    • The Regional Relief and Recovery Fund (RRRF) provides over $2 billion to support small businesses through Canada who have not been able to access existing relief measures. It is delivered by from Canada regional development agencies.

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SOURCE Innovation, Science and Economic Development Canada

For further information: Youmy Han, Press Secretary, Office of the Minister of Small Business, Export Promotion and International Trade, 343-551-0246, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, [email protected]

Related links

http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home

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