VANCOUVER, British Columbia, Nov. 16, 2022 (GLOBE NEWSWIRE) -- The Forum, a Canadian charity that supports women entrepreneurs, announces AFIA DEI Certification for Canadian Funders, a nationwide Diversity, Equity and Inclusion (DEI) initiative to address the systemic barriers experienced by women entrepreneurs in accessing business funding, particularly Black, Brown, Asian, Indigenous women, and members of 2SLGBTQ+ communities. Currently in development by the Forum, the certification program is set to launch in Fall 2023.
Developed for Canadian funders, including banks, venture capital firms, credit unions and angel investors, AFIA DEI Certification provides leading-edge diversity, equity and inclusion learning, and unlocks the potential of growing women-owned businesses in Canada. Funders who undergo an assessment and training will receive a AFIA DEI Certified designation that nationally recognizes a commitment to advance DEI in business financing.
Women and Gender Equality Canada (WAGE) is providing the funding for the development of this innovative initiative to address the significant gaps in funding for women entrepreneurs.
“Having more women in business drives innovation, advances gender equality and creates a stronger economy for all Canadians. This important initiative will level the playing field for Indigenous, Black, racialized women and members of the 2SLGBTQ+ community,” says the Honourable Marci Ien, Minister for Women and Gender Equality and Youth. “We will continue to create a more inclusive, sustainable, and resilient economy for everyone. This includes investing in projects that have positive impacts on this generation and generations to come.”
According to the State of Women’s Entrepreneurship in Canada 2021 report, approximately 42 per cent of new women-owned businesses are created and owned by Black women. The report also found Indigenous women entrepreneurs are growing at twice the rate of their non-Indigenous counterparts.1 In addition to the rising number of women-owned businesses from underrepresented groups, studies also show that women-owned businesses as a whole contribute $150 billion to the Canadian economy and employ over 1.5 million people with a growth potential in Canada that could add $150 billion to the GDP by 2026.2
“Despite the rapidly growing contribution of women entrepreneurs to the Canadian economy, the biggest barrier women entrepreneurs continue to face in starting and expanding their businesses is access to capital – and this barrier is even greater for women from underrepresented groups,” says Paulina Cameron, CEO, The Forum. “Working with funders and diverse entrepreneur groups, AFIA DEI Certification aims to change how funders serve women entrepreneurs to create better experiences in the funding process and provide greater access to business capital.”
At The Forum, our mandate is to leave no woman behind. Canadian funders are encouraged to reach out for more information and to sign up for pre-registration and updates to become AFIA DEI Certified. Visit www.afiadeicertification.ca or email certification@theforum.ca.
About The Forum
The Forum is a national registered Canadian charity that energizes, educates, mentors, and connects self-identified women entrepreneurs to strengthen economies and build thriving businesses and communities. Since 2002, The Forum has supported over 10,000 women entrepreneurs and serves 1,600+ women from 193 unique communities across Canada annually through its programming and events including The Forum Pitch, The Forum Mentor Program, The Forum E-Series program and more. Visit theforum.ca for more and follow on social @theforumca.
Media Contact: Monique Camenzuli, The Edit PR, monique@theeditcanada.com
2. Government of Canada. (2019). Trade and Gender Connection.
