Women Major Driver Of Economic Growth

An increase of the economic participation of women has been identified as a major driver for economic growth, leading to increased interest in the support of entrepreneurial activities for women, says a study from Statistics Canada. Additionally, prior industry experience of the business owner positively impacts labour productivity of an enterprise, but the effect is much larger for women-owned enterprises. However, there is no significant difference in labour productivity between women- and men-owned enterprises of those with prior experience. The labour productivity gap between businesses owned by both women and men is smaller for enterprises whose owners have prior industry experience (0.2 per cent) than among owners who don’t (20.9 per cent). The labour productivity gap between enterprises owned by women and men in all combined enterprises is 16.5 per cent. Yet, since owners in women-owned firms are less likely to have experience than owners in men-owned firms, there is still a sizeable overall labour productivity gap.