Build relationships with investors before you make your funding asks.Getty Images
Ask Women and Work
Question: I’m looking for funding to scale and grow my small business. Where do I start?
We asked Amoye Henry, founder of Pitch Better and general partner of FoundHers Innovation Labs, to tackle this one:
If you’re a startup looking for capital to scale, you may need a bank loan, angel capital, venture capital or family and friends funding. For women entrepreneurs especially, I recommend that you first investigate what sources of non-dilutive funding are out there – money that doesn’t have equity expectations attached to it.
In Canada, our government recognizes that women are not given the same opportunities as men when it comes to funding, so there are foundations, grants and resources to mitigate those gaps. Find out who your local MP is and identify what grants and solutions you can access based on your location.
The Women Entrepreneurship Strategy (WES) Ecosystem Fund is a government initiative that supports various accelerator programs for women across Canada. The Canadian Women’s Chamber of Commerce is running an amazing program called Flip the Script, teaching women how to combat rejection in pitching and get money from investors. We just launched our own accelerator called FoundHers Innovation Labs that helps Black women entrepreneurs scale their businesses. We match them with venture coaches who show them how to pitch international and institutional investors and build for growth.
There’s also the DMZ Women Founders Program and The51, which is based in Calgary and focuses on funding and accelerating women-led businesses. The Forum for Women Entrepreneurs (FWE) offers mentorship and resources for women entrepreneurs, and Equity Cubed by Natasha Freidus is another new venture studio.
Something else you could consider is building a relationship with your bank. A lot of banks have allotments for small business support and there are government matching programs that work closely with the banks to enable your success.
When it comes to approaching potential investors, it’s important to build relationships before you make those asks. They should know about you and be familiar with your company. Don’t wait until it’s a rainy day and you’re drowning and you need to be saved.
The old adage goes, ‘Your network is your net worth,’ and I wholeheartedly agree. Networking is so important to build that reputation and be known for delivering value. Go into spaces where you’re not necessarily comfortable. Put up your hand for speaking opportunities and take the stage where you don’t necessarily see yourself reflected, because there’s a chance that the people you’re looking for are also looking for you.
That’s happened to me so many times, where I raised my hand and said, ‘I’m interested in learning more.’ It’s about showing how you can add value for people, and then after you’ve been able to deliver a tonne of value, saying, ‘Here’s an opportunity I have for you.’
This week’s must-read stories on women and work
What She Said author Elizabeth Renzetti weighs in on ‘bad’ feminists, women’s rights and being a Swiftie
Am I a bad feminist if I get Botox? Are Canadians too complacent about our abortion freedoms? Why does it feel like we’re backsliding when it comes to issues of equality?
These are among the questions that Elizabeth Renzetti, former Globe and Mail columnist, tackles in her important new book: What She Said. Robyn Doolittle sat down with Ms. Renzetti to talk about these issues, why she wrote the book and how she’s feeling about the state of feminism in 2024.
“There’s good evidence to show that we are backsliding. I have to give credit to Susan Faludi, whose 1991 book Backlash documented this. What she said, essentially, was that any time there is even the tiniest incremental gain in women’s rights, there is an even larger set of consequences, backlashes and repressions that go along with it.”
I burned out hard. With burnout rates so high, I hope these strategies can help you
“To the casual observer, I was still at the top of my game as a C-level executive for a multi-billion dollar company,” says career coach Brendan Reid. “But on the inside, I was frayed, weakened. Small things were getting to me. I couldn’t shake off tough feedback or office conflict like I used to. I was out of gas, well before the finish line.
“It took many years before I could appreciate the mistakes I made. Had I known then what I know now, I may have been able to stop it. At the very least, I could have managed it better than I did.”
Can I end maternity leave early? And must I tell my boss it is because I’m pregnant again?
“I was supposed to take 18 months of maternity leave but I got pregnant in the middle of my leave. Now I need to return to work early so that I can accumulate enough hours to qualify for another parental leave.
“Am I allowed to return from leave early? Do I need to give them a reason why I need to return? What’s the best way for me to handle this situation and not make my manager suspicious, or angry at me later?”
In case you missed it
Women in woodworking: These business owners are upending traditional notions of men’s work
Daej Hamilton loves the moment when she finally assembles and glues together a piece of wood furniture, home decor or kitchenware. “I think it’s at that point where I’m like, ‘Ah, I did something.’ As soon as it’s glued up, I’m happy.”
Through her Toronto company, Daej Designs, Ms. Hamilton builds one-of-a-kind pieces including wooden tables, benches, shelves and bowls, often as commissions for clients.
Women in the woodworking industry such as Ms. Hamilton are innovating every day with saws and sandpaper. They’re also carving new expectations in this field where being male is the norm.