The executive director of the LaCloche Manitoulin Business Assistance Corporation (LAMBAC) stated that the federal funding revealed in Gore Bay, Ont., will contribute to creating a more equitable economic environment for women entrepreneurs in northern Ontario.
Carol Campbell states that the continuation of funding for the Northern Ontario Women (NOW) program will aid over 110 businesses led by women and generate nearly 145 full-time employment opportunities.
Campbell said, “We are proud to spearhead this priority project that empowers women to pursue their entrepreneurial aspirations, while supporting jobs, growth and a strong economy.”
Nickel Belt MP Marc Serré revealed that the Government of Canada will invest $999,620 to support LAMBAC in continuing its program, which offers up to $5,000 to women-led and women-owned small businesses.
The funding supports expenses related to professional and training services, aiding businesses in either launching or advancing to the next stage, as stated in the news release. The aim, it noted, is to tackle the difficulties encountered by women entrepreneurs, especially in rural regions where services and training are either unavailable or too costly.
Serre said, “Today’s announcement is fantastic news for our regional economy and an inspiring message to all women in northern Ontario considering entrepreneurship as a career.”
All 24 Community Futures Development Corporations (CFDCs) in northern Ontario assist in promoting NOW and organizing local training events within their regions. Since 2019, NOW has backed nearly 400 businesses led by women, contributing to the growth and modernization of over 260 of these enterprises and generating more than 300 full-time positions in northern Ontario, according to the news release.