Mentorship program for P.E.I. women who own businesses starting in January

After a difficult year for many Island businesses, women business owners on P.E.I. can apply for a new opportunity in 2021: an accelerator and mentorship program led by the P.E.I. Business Women's Association (PEIBWA).

The new 12-week program, starting in January, will accept up to eight women and will include both virtual and in-person learning. It's being led by PEIBWA and the Atlantic Canadian Women in Growth Partnership, in collaboration with the Startup Zone in Charlottetown. The application deadline is Dec. 18.

Having a mentor is key to entrepreneurial growth for women on P.E.I., said Rose Fitzpatrick, the project co-ordinator for the Atlantic Canadian Women in Growth Partnership, who works with PEIBWA.

"A lot of these women are so busy, you know, just running their business and trying to take care of everything else that goes along with that, that they kind of leave themselves out of the process," said Fitzpatrick.

A mentor, she said, is someone they can put their confidence and trust in.

"They're a sounding board. They're there to help guide them."

Virginia McGowan still remembers how many questions she had when she started her first business in 2013.

"How do you keep your books? How do you work with your clients? How do you handle the financial part of it? All those kinds of things," said McGowan, who is working as a consultant with the PEIBWA on the new program.

McGowan had an advantage: she was already a successful professional, having worked as a university professor and in the public service. At 59, she felt confident starting her editing and publishing business, the Write Edit Group.

"I was used to taking on some pretty significant challenges nationally and internationally, so I wasn't shy."

Some women 'lack confidence'

McGowan has extensive knowledge and experience to share with Island business owners. She's a mentor with the Cherie Blair Foundation for Women and the Forum for Women Entrepreneurs, and recently wrote a book called Harness the Power of Mentoring. Her second business, Business Mentoring Solution, is also focused on mentoring.

As part of a previous mentorship pilot program through PEIBWA, McGowan spoke to 350 Island women who own businesses, and she said many women "feel they lack confidence. They feel that they're the only one who doesn't know how to do this."

The program will consist of both a mentorship portion, where the eight women chosen will be matched with a mentor, and an accelerator portion, run by the Startup Zone.

Networking among participants is key

The accelerator programming will include weekly group meetings, and training sessions with experts. Networking among participants is another important aspect of the program.

McGowan recalled a focus group she led with 14 women entrepreneurs in Montague during the pilot program in 2016.

"As we went around the table for our discussion, I asked them, you know, could you tell me what's the biggest barrier that you face, what's the biggest challenge that you have. And one by one, the eyes hit the table," said McGowan.

"This woman finally said, 'Well, I guess it's the financial part, I just struggle with that.' And everybody looked up and said, 'Oh, me too. Me too.' But they all thought they were the only ones."

The mandate of this program, Fitzpatrick said, is to serve traditionally underserved groups of women on P.E.I.

"Newcomers, Indigenous, rural women business owners, those of colour, women with disabilities, and really opening doors for women in non-traditional trades and in STEM sectors as well," she said.

Women entrepreneurs face discrimination

Women still face more hardships than men creating and growing their businesses, said McGowan, particularly when you think about intersectionality.

"They face all the obstacles and challenges that men face in starting and making a success of a business, plus these other kinds of gender-related issues," she said.

"It is more difficult for women to get bank loans, for example. It's more difficult for women to break into business networks. There are still a lot of stereotypes around women and what their roles are. They face negative comments and negative attitudes from others around them, they feel that they're the only ones in the room."

PEIBWA is also accepting applications from people who are interested in becoming a mentor as part of the program.

"We know that we have a lot of very bright and successful women entrepreneurs on P.E.I. So it's really tapping into that and making sure that some of these women in underserved groups have access to them,' said Fitzpatrick.

She added, however, that they are not only looking for women mentors, and men can also apply.

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