With International Women’s Day coming up on March 8, and a renewed focus on kickstarting economic growth and supporting small business resilience in Canada, a recent TD report with the Women Entrepreneurship Knowledge Hub had some interesting insights.
- Women entrepreneurs now control 20% of Canadian businesses as majority owners and are partners in another 17%, generating more than $100 billion in annual revenue and employing one million people;
- A survey of women entrepreneurs within the report highlights their top financial challenges: scaling the business (53%), securing financing or credit (49%) and cash flow management (47%);
- While pursuing growth, their financing approach is cautious:
- 84% launched using personal savings, credit cards or family support
- 49% are currently seeking financing, while 43% report no current need for funding
- 37% cite concerns about debt repayment as a reason for not pursuing capital
Together, the data suggests women entrepreneurs are highly resourceful but pursuing growth cautiously, prioritizing resilience and self-funding over traditional debt-driven expansion.
Julie Dimitri, National Manager, TD Women in Enterprise, discussed the data, offered guidance to current or aspiring women entrepreneurs, and shared what kind of support would help them grow their businesses even more.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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