The Canadian Chamber of Commerce’s Business Data Lab (BDL) has released a new report, Women Entrepreneurs: Canada’s Biggest Missed Business Opportunity, shedding light on Canada’s persistent gender gap in entrepreneurship. While women-owned businesses have received increased attention and investment in recent years, progress has remained slow. Canada continues to lag behind other developed nations in fostering female entrepreneurship, leaving a vast economic opportunity untapped.

According to the report, closing this gap could generate up to $180 billion in additional economic activity, potentially increasing GDP by at least 6% over the next decade. However, women entrepreneurs continue to face systemic challenges, including structural biases, restricted access to financing, and underrepresentation in high-growth industries like construction, mining, and technology.

Addressing these barriers requires a deliberate and coordinated effort across government, financial institutions, and industry leaders. The report outlines several key recommendations to unlock the full potential of women entrepreneurs in Canada:

Recommendations for Action:

Expand Entrepreneurship Skills & Training – Clarify definitions within Canada’s Women Entrepreneurship Strategy and align with UN Women’s criteria to ensure women-owned businesses can fully access federal programs. Increase investment in capacity-building programs, particularly in underrepresented industries.

Improve Institutional & Administrative Supports – Address family and tax policies that limit women’s participation in entrepreneurship and conduct industry-wide assessments to identify untapped opportunities.

Enhance Culture & Networking Support – Ensure decision-makers receive unconscious bias training, expand access to mental health and childcare support, and consolidate mentorship and sponsorship programs at all levels.

Increase Capital & Financial Access – Develop new financing models that better meet the needs of women entrepreneurs, identify and remove prohibitive barriers in financial products, and increase transparency in funding opportunities.

Women entrepreneurs represent a massive untapped economic opportunity. Addressing these barriers is not just about equity—it’s about unlocking real economic growth and ensuring Canada remains competitive on the global stage.

Read the full report: Women Entrepreneurs: Canada’s Biggest Missed Business Opportunity