Commissioner Ward joined CanWCC with Janelle Benjamin the Founder & Chief Equity Officer of All Things Equitable Inc. , and and Allison Venditti, Founder of Moms at Work to discuss strategies for promoting equal pay, increasing access to capital, and and how pay equity impacts women-identifying entrepreneurs.
The impact of the gender wage gap on entrepreneurship makes it more difficult for women-identifying business owners to access the capital they need to start and grow their businesses. As the gender wage gap contributes to devaluing women’s work overall, women-identifying entrepreneurs earn, on average, 58% less than male entrepreneurs.
Moderated by Nancy Wilson, Founder and CEO of CanWCC, the panel explored:
- The fundamental, philosophical issue of how we value men and women’s labour – if we don’t value their labour equally in traditional employment, there can be no reasonable expectation of equality/equity in other economic areas
- Women-identified employees leaving the workforce to become entrepreneurs
- How closing the gender wage gap can make a difference
- What tools and resources are available to help Canadian businesses and business owners dismantle the wage gap.
The wage gap significantly impacts the economy and entrepreneurship for women-identifying business owners. Women make up half of the population and the labour force, and their economic contributions are essential to Canada’s economy. When women are paid less than men, it not only affects their personal financial well-being but also has a ripple effect on the economy as a whole.