After 10 years of operation, Women Entrepreneurs of Saskatchewan Inc. is celebrating its extension on life.
The federal government will continue the program until 2010, says executive director Laura Small.
The program, which has sister organizations in the other western provinces, offers help to budding businesswomen in drawing up business plans, sharpening their financial and marketing skills and offering start-up loans. The program also offers mentoring and assistance for existing female-led businesses.
Small said the original contract in 1995 offered the organization access to $5 million to assist the start of women’s businesses. Demand for the money has been a bit lower, at $3.7 million over the decade, but the group has lent that amount out 2.7 times.
A survey of the loan portfolio showed a loss of eight percent.
Small said the group’s rural side has seen a consistent number of inquiries, but more loans were made over the 10 years.
In terms of the type of businesses assisted, “it’s all over the map but two-thirds are service industries,” Small said.
