Carleton’s Centre for Women in Politics and Public Leadership (CWPP) is conducting a new study to examine women entrepreneurs and their approach to business risk.
The study is conducted in collaboration with the Beacon Agency and is funded by the Bank of Montreal. It will strive to see how women entrepreneurs view risk differently from male entrepreneurs, according to Clare Beckton, the executive director for the CWPP.
Beckton said the study hopes to gain an understanding of those differences within the context of the Canadian economy.
The study is a part of an ongoing series looking at female leadership in different sectors of business and public service. It will incorporate a literature review of current research and interviews with both female-owned and male-owned businesses, Beckton said.
She added the study will also include critical conversation between researchers and business leaders to be hosted at Carleton after interviews are conducted.
“It’s a very importance piece of work because we’re always reading that women entrepreneurs are risk averse compared to men entrepreneurs,” Beckton said. “But that doesn’t tell us if the standards that are being used to assess what risk is good or bad or is it a more objective standard.”
Beckton also said the overall hope for the study is to have an impact on the conversation about female entrepreneurship in the Canadian economy. She said the results of the study can have important implications for how women-owned business ventures get funding and investors.
“At the moment we find that women have a greater challenge getting access to funding for growth,” she said. “It also adds to the body of knowledge of what difference does it make and why it is important to recognize those differences and to value them.”
Janice McDonald, CEO and founder of the Beacon Agency, a consultant firm specializing in social business strategy, has a positive outlook on female entrepreneurship in Canada.
“The overall state of entrepreneurship in Canada is strong and in particular, we are seeing great gains for women-owned businesses,” she said in an email. “I am encouraged by organizations . . . that support young entrepreneurs in Canada because not only do they support young entrepreneurs, they highlight entrepreneurship as a viable career path.”
Andrea Ort, a first-year international business student, said men are generally bigger risk-takers, but she also has optimism for the future of women in business.
“Women aren’t necessarily afraid to take risks; men just might take more un-calculated risks [in business],” she said. “I think that [sexism in the workplace] is kind of fading out and that women and men, at least in Canada, have the same opportunities. By the time I’m [in business], I don’t think it will be an issue anymore.”
A final report of the entire study will be released in 2016.
