Women Entrepreneurs Of Canada

investments and mitigate risks of bankruptcy. In addition, SMEs perform many other social and environmental responsibilities as well.

Long-term survival of business is dependent on the achievements of the objectives as mentioned above. More precisely speaking, selling products and or services, earning acceptable returns on their investment etc. are essential on the part of the businesses for their sustenance. Primarily, profits are the source of income for most of the entrepreneurs and their families. In other words, income generated from the profits made by such business render the means of livelihood for them. In order to cover the costs of production, procuring raw materials, payment of wages to the employees etc., revenue earning remains

• Women are also more likely to operate businesses in the service sectors rather than in knowledge and manufacturing industries, which traditionally enjoy higher growth potential and profitability (Barbara Orser, 2007)

Because this is a literature review, I have followed each quote from Ms. Orser's report with the complete references she refers to, as she cited them in the appendices of her paper.

• "The majority of majority women-owned firms (85 percent) are micro- businesses employing fewer than 5 people (Carrington, 2006)"(p. 15).

• "Women are significantly more likely to operate firms in the services sectors and less likely to operate knowledge-based industries and manufacturing operations. The most common service sectors for women entrepreneurs were wholesale/retail, professional services and information/culture/real estate. (Carrington, 2006)" (p. 17).

• "The majority of self-employed women (62.7 percent) remain unincorporated solo workers concentrated within personal services and retail sales sectors (Hughes, 1999; 2006)" (p.

The participation rates of Canadian women business owners are comparable to those in the United States and higher than those of other leading nations such as Denmark, Finland, and New Zealand (Brush, Carter, Gatewood, Greene, & Hart, 2002).

• A flexible work schedule is a greater motivator for women planning to open their own business (63%) than for men planning to do so (51%).

• 36 percent of men planning to open a business plan to do so to become wealthy, while only 23 percent of women planning to open a business do so for the same reason.

• The majority of women and men entrepreneurs (69 and 64 percent respectively) seem to be equally driven by a love for what they do or hope to do.

• Women are less likely than men to start a business because they want to be their own boss. Women are more likely to employ a spouse or a child and to be first-time business owners.

• Virtually equal amounts of male and female entrepreneurs listed their three main challenges faced when starting up a business as finding clients; keeping a steady workload and working long hours.

5.2.11.4 Canadian Women in Business in