For the past 18 years, the Rosenzweig Report has scrutinized how and whether women are progressing in business. Similarly, the National Black Canadians Summit, organized by the Michaëlle Jean Foundation, has looked at the situation of Black entrepreneurs, with a view to eradicating exclusion and systemic racial discrimination in our country. An overwhelming picture emerges. Black-owned businesses start with three times less overall capital than their white counterparts. One study found that loans with the picture of a Black person in the profile were 25% to 35% less likely to receive funding than their white counterpart, and they were imposed higher interest rates. As a result, Black entrepreneurs apply for loans less often because they expect to be denied. As much as 76% of all Black entrepreneurs say that their race makes it harder to succeed. What about Black women entrepreneurs? A landmark study of 700 Black women entrepreneurs across Canada has highlighted the compounded difficulties they face. Over 78% of Black-women owned businesses operate online and from the women’s home, another 20% rent their space. Less than 1% own their building. Some 93% had annual revenues of less than $100,000. With this edition of the Rosenzweig report, we salute the courageous resistance of Iranian women, their creative use of artful forms of communication, their appeal to our common humanity to advance gender justice. We, women from around the world, know how hard we have to struggle. Still unfazed, with our eyes on the prize, we shall overcome through creativity, courage, quality of character and collective action. With men of intelligence and conscience at our sides, we dare, because we care. To empower women is to empower society as a whole. To include is to succeed. Everybody wins.
| – | The Right Honourable Michaëlle Jean, 27th Governor General, Commander-in-Chief of Canada |