With International Women’s Day coming up, Visa has announced it will be taking action to support women entrepreneurs.
In partnership with IFundWomen, Visa will be providing 10 women entrepreneurs in Canada with the opportunity to apply for grants of $10,000 each as well as a one-year mentorship intended to help them grow and expand their business.
With many regions still imposing restrictions on businesses due to the pandemic, Canadian small businesses continue to struggle—according to a recent survey, only 62 per cent of Canadian small businesses are fully operational, 16 per cent less than the global average of 78 per cent.
“Starting, owning or growing a business is an incredible journey but not always an easy one, especially during a pandemic,” Stacey Madge, president and country manager for Visa Canada, said in a news release.
“The reality is, COVID-19 has had a disproportionate impact on women business owners. Together with IFundWomen, we are excited to provide a much-needed grant to help empower women entrepreneurs to tackle the unique challenges they face while better positioning them to lead our collective recovery, and we remain committed to championing Canada’s small business community,” she continued.
From February 23 until March 12, IFundWomen will be seeking applications from Canadian women entrepreneurs across all sectors.
“At IFundWomen, our number one goal is to see women entrepreneurs worldwide get funded. We’re so proud to be partnered with Visa to support these innovative entrepreneurs in Canada,” Karen Cahn, founder and CEO of IFundWomen, said in the same release.
“We couldn’t think of a better partner with which to do our first Canadian grant program,” she continued.