I recently spent some time reading the Atlantic Economic Panel’s Greater Prosperity for All report, and one question kept coming to mind:
What does Atlantic Canada’s growth agenda mean for women business owners?
The Panel is calling for a more ambitious economic future, one built around productivity, investment, technology, scale and access to larger markets. If we are serious about that growth, women-owned businesses need to be part of the conversation and the action that follows.
The Panel’s recommendations include greater access to growth capital, more procurement opportunities, stronger technology adoption and support for Atlantic businesses looking to scale and compete globally.
For business owners, that translates into practical questions:
- Am I ready to take on a larger contract?
- Could I expand into another province or market?
- What technology could improve my productivity?
- Am I ready to pursue growth capital?
- Do I have the systems, talent and capacity to scale?
These questions matter for women entrepreneurs in particular.
Women-owned businesses already represent an important part of Atlantic Canada’s business community. ACOA’s latest reporting indicates that 18% of Atlantic Canadian SMEs were majority-owned by women in the most recent available data.
The opportunity now is to ensure those businesses are positioned to participate fully in the growth Atlantic Canada is trying to create.
Access to growth matters
The Panel identifies scale as a key economic challenge and points to a gap in growth capital for companies seeking approximately 2 million to 7 million. It also sets an ambition to double the number of Atlantic Canadian global exporters, from 2,502 to 5,000.
That is about more than starting businesses. It is about building businesses with the capacity to grow.
And women-owned businesses can compete in larger markets. Statistics Canada research found that women-owned SMEs were as likely to export as men-owned SMEs in the data studied, despite being more concentrated in smaller businesses and sectors less likely to export.
The question, then, is not whether women entrepreneurs can participate in growth. It is whether they have the capital, networks, knowledge and opportunities to do more of it.
Procurement is another important opportunity. As Atlantic Canada makes major investments in areas such as defence, infrastructure, technology, energy and oceans, qualified women-owned businesses should be positioned to compete for a place in those supply chains.
That does not mean lowering standards. It means ensuring businesses know where the opportunities are, understand the requirements and have the financing, networks and capacity to compete.
Technology is part of the growth equation
The same applies to technology.
The Panel puts productivity and digital adoption at the centre of its vision for Atlantic Canada. Women-owned businesses are already participating: Statistics Canada found that 33.7% of women-owned Atlantic businesses used advanced or emerging technologies, compared with 33.2% of men-owned businesses in the data examined, a difference that was not statistically significant.
There is an opportunity to build on that foundation.
AI, automation, digital sales and data can help smaller companies increase capacity and reach new markets. But adopting these tools requires investment, skills and a willingness to rethink how a business operates.
For entrepreneurs ready to grow, those investments need to be part of the plan.
A call to action for women entrepreneurs
Not every business needs to become a large company. Growth looks different for every entrepreneur, and building a sustainable business is a meaningful achievement in itself.
But for those ready to grow, now is the time to ask: What could growth look like for my business?
It might mean hiring, entering a new market, investing in technology, strengthening financial systems, pursuing certification, finding growth capital or preparing to compete for a larger contract.
Women business owners should be part of the conversations now taking place among governments, financial institutions, corporations and economic-development organizations about Atlantic Canada’s economic future.
CWB is ready to help
For 33 years, CWB has supported women entrepreneurs at every stage, from starting a business to strengthening operations, building leadership capacity and preparing for growth.
That support becomes particularly important when an entrepreneur is ready to move from “How do I run my business?” to “How do I grow it?”
Growth can bring new questions and challenges: How do I access capital? What does it take to become procurement-ready? How do I build the right team? Where can I find the expertise I need? How do I enter a new market? What technology will actually make a difference to my business?
CWB helps women navigate those questions by connecting them with the knowledge, resources, expertise and networks they need to move forward.
That means helping entrepreneurs build the confidence to pursue bigger opportunities, the skills and systems to support growth, and the connections that can open doors to markets, capital, customers and partnerships.
And importantly, we know that growth does not look the same for every business. Our role is to meet women entrepreneurs where they are, understand where they want to go and help them build the capacity to get there.
The Atlantic Economic Panel has challenged our region to be more ambitious about its economic future.
Women business owners should hear that challenge too and know that they don’t have to navigate it alone.
There is an opportunity in front of us. Let’s make sure women-owned businesses are ready to pursue it, and that Atlantic Canada’s growth story includes them.