Feds announce $2B for women who operate their own business

The federal government announced there is a new $2 billion fund for businesses led by women in Canada.The goal of the program is todoublethe number of businesses owned and run by women by 2025.

The Women Entrepreneurship Strategy (WES) announced the first batch of money more than $4.6 million for businesses in Saskatchewan. The announcement was made Thursday at Hillberg and Berk in Regina.

Each eligible business could receive up to $100,000 to grow and expand.

"I think it's incredibly important to have an emphasis on women in business because there are specific challengeswomen in business face, particularly when they get to the phase of trying to scale up," said Rachel Mielke, CEO of Hillberg and Berk.

Mielke's business is one of eleven in Sask. which will receive money to expand to more markets under the money doled out by the government.

The fund is intended to help womenaccess better financing, employees and help with networking. The government estimatesmore women-led businesses could boost Canada's GDP by an additional $150 billion by 2026.

"There will be further calls for proposals and further announcements to come in the future as the full $2 billion is rolled out across Canada," said Ralph Goodale, MP for the Regina-Wascana riding.

The Saskatchewan Food Industry Development Centre will get $1 million to support female entrepreneurs in the food processing industry. The Saskatoon Open Door Society will get just under $1 million to help women who are recent immigrants to get into business. Women Entrepreneurs of Saskatchewan is getting $1.56 million to design a program aimed at expanding businesses owned and operated by women. These three initiatives are getting money from the regional WES Ecosystem Fund.

Eleven businesses in Saskatchewan were announced as recipients of money:

• Prairie Berries Inc., located in Keeler.
• Hillberg & Berk Accessories Inc., located inRegina.
• Canadian Organic Spice & Herb Co. Inc. (Splendor Garden), located inWatson.
• Clevor Technologies Inc. (Brillist), located inSaskatoon.
• Destination Leadership Inc., located inRegina.
• Grandpa's Garden Ltd. (Prairie Bee Meadery), located in Caron.
• Mumm's Sprouting Seeds Ltd., located inParkside.
• Prairie Sun Pub and Brewery Inc., located inSaskatoon.
• Road Coffee Co., located inSaskatoon.
• S & E Trusted Online Directories Inc., located inSaskatoon.
• Three Farmers Foods Inc., located inSaskatoon.