Writer: Lena Thompson
To quote Beyonce: who runs the world? Girls.
To highlight that lyric, a recent survey from GoDaddy.com states that 80 per cent of Canadian women see opportunity in starting their own businesses. These statistics come at a time when burnout and an unpredictable economic landscape are at an all-time high.
In a press release, GoDaddy released data from its “Unstoppable Women” study which found that most Canadian women started or intend to start a small business in pursuit of better financial opportunities and a flexible lifestyle. “Amid ongoing cost-of-living challenges, close to half of women looking to start a small business or side hustle say increased financial opportunities are the top motivator, over flexibility or autonomy,” the release reads.
This is a shift from 2021 when a similar study by GoDaddy found a majority of millennial women cited passion as the driving force behind entrepreneurial dreams. According to the release, the study also highlighted perceived barriers for women looking to start their own businesses which include time commitments and set-up costs at the top of the list. However, one in three Canadian women said they are the primary caregiver for children under 18 and over 80 per cent of participants said they were in charge of household responsibilities whether or not they had children.
These stats emphasize the need for mental health supports as more than 78 per cent of women surveyed said they had experienced burnout at some point in their careers, the release states, but on the other hand, female entrepreneurs said adaptability and confidence are critical to their success.
This underpins the importance of support systems geared towards women to empower them to feel confident in their business ventures. The Unstoppable Women survey found that women overestimate start-up costs by over 50 per cent and two-thirds of women launched their businesses for less than $1,000 with 15 per cent having no start-up costs, said the release.
As part of its Unstoppable Women campaign and in honour of International Women’s Day, GoDaddy interviewed Sadaf Rahimi, owner of Charcuterie Vancouver, who started her business in 2019. In the release, Sadaf encouraged other aspiring entrepreneurs to go for the gusto and follow their dreams; that no matter the scale of what you want to achieve or how hard it seems to not give up.
“If I, a young Afghan-Canadian immigrant could grow my small charcuterie plates to a seven-figure business, you can too,” said Sadaf. “Believe in yourself and don’t worry about people’s opinions. Just do it.”
