Industry Canada's report Shattering the Glass Box? presents even more good news about Canadian women in business.
Women entrepreneurs are moving en masse into the knowledge-based economy. Business women are moving into industries such as architecture, law, engineering, manufacturing, accounting, and construction, where female participation is traditionally low, in ever increasing numbers. More women than ever are health practitioners, or working as doctors, dentists, or optometrists, for example.
Generally, within industry groups, business women are shifting into those areas that require higher education. For instance, in 1996, the number of women entrepreneurs providing services to agriculture, rather than being directly involved in agriculture, increased 95.6 percent, while the number of women entrepreneurs providing business consulting, rather than accounting and bookkeeping services, rose 151.3 percent.
The number of women incorporating their businesses is also growing, especially in the business service areas of advertising, computer services, and business consulting. Women entrepreneurs are being more successful in a more diverse range of industries than ever before. Now that's something to celebrate!
On the negative side, women entrepreneurs on average still earn less than self-employed men. In 1995, the average income of a woman in business was $25,552, while the average income of a man in business was $40,043 (Shattering the Glass Box, Industry Canada).
Part of this difference is accounted for by the fact that women in business generally work fewer hours than men; in 1997, self-employed women worked one third fewer hours per week than self-employed men. I would speculate that part of the reason for this discrepancy is that women are still the primary child care providers.
Industry Canada's report Shattering the Glass Box? concludes that while the knowledge-based economy provides great opportunities for women entrepreneurs, it also provides diverse challenges. Entrepreneurs (of either gender) need to strive continually to improve their products or services, and need to be poised to take advantage of new knowledge and new technologies. Staying informed, acquiring funding for growth, finding mentors, and expanding into new markets are four areas the report identifies as being especially challenging for women in business.
The next page presents some resources to help women entrepreneurs deal with these challenges. Click to continue reading.
