Madam Speaker, I was intrigued by earlier comments of members concerning the recent report of the Canadian Federation of Independent Business. It seemed to suggest there was a gender bias of some description in lending.
With some experience in the CFIB mode of surveying, I wonder if this is correct or if this is a reflection of the people who responded.
I would like to put some interesting information on the record. It is from a Statistics Canada national survey on the financing of small business, dated November 1994. Statistics Canada found that 18 per cent of small businesses owned by men who had sought financing had been refused. For women the figure was 24 per cent.
StatsCan noticed that this difference may reflect an industry preference rather than sex discrimination by the lenders. An example that suggested this industry preference is the business and personal services industry which is the largest share of businesses owned by women. In fact, if there was a bias it had more to do with the kinds of business women determined they were going to try to open. It was not a gender bias.
The other was the question of whether or not there was a bias based on interest rates. Research has shown there is not a gender bias. It is strictly based on the credit worthiness of the business.