Two statistics are worth noting: 42% of women entrepreneurs are actively seeking financing, and only 20% of women intend to use the government programs, including the Canada Emergency Business Account.
I will not repeat the explanations given by Ms. Pohlman, who based her comments on a very accurate survey that took size, level and lifecycle of the businesses into account.
Both startups and small businesses, had more trouble gaining access to these programs. And yet the government made a sound decision by seeking to reach as many segments as possible. That's why it worked with major financial institutions. While this is all very well, we know that many women entrepreneurs do not necessarily have a business account with financial institutions and that some women were not very successful in their dealings with them. Others became discouraged by the huge amount of paperwork and the administrative burden required by these applications.
What I would recommend is that organizations in Canada like Femmessor, and others like Women's Business Centres, be able to offer financing under the same conditions. We have all the tools needed to do so. It would have been very easy for the government to allocate a portion of this envelope to organizations like ours have a direct impact on women and that are not only able to provide such financing, but also to give them the coaching they need to get their business back on track, which the financial institutions do not.