Thursday, September 19, 2024 Mastercard has opened applications for the Mastercard x Pier Five Small Business Fund, aiming to empower women entrepreneurs in Canada with vital funding, resources, and support to scale their businesses. Women business owners can apply for one of ten $10,000 CAD grants and a Priceless Experience in Toronto, which includes exclusive mentorship opportunities. Applications are open until November 3.
While small businesses represent 98% of all employers in Canada, fewer than 20% are owned by women, according to Statistics Canada. One of the most significant hurdles for women entrepreneurs is access to funding, with women-owned businesses historically receiving 150% less funding than their male counterparts. This initiative by Mastercard seeks to address this gap, offering women entrepreneurs the financial boost and guidance they need to thrive.
“We are committed to furthering inclusivity and levelling the playing field for small business owners in Canada by opening access to resources, opportunities and partnerships for every business to flourish,” said Nishant Raina, Vice President, Small and Medium Enterprise, Mastercard, Canada . “Through the Mastercard x Pier Five Small Business Fund we are especially proud to continue our important work in helping to build a community of women entrepreneurs who are fostering meaningful connections and mentorship opportunities with each other.” Beyond funding, Mastercard recognizes the crucial role of net.