Page 4 - 201908G20Entrepreneurship Newsletter

Canada announces Women Entrepreneurship Strategy Investments

Minister of Small Business and Export Promotion, announced
an investment of $4,648,377 in women entrepreneurs and
organizations supporting women entrepreneurs in Saskatchewan.
Women-owned or -led businesses will receive up to $100,000
through the Women Entrepreneurship Fund to help them grow
their business and reach new export markets.
The Women Entrepreneurship Strategy complements the
Government of Canada's efforts to advance gender equality. These
efforts include addressing pay equity, providing more affordable
childcare and putting an end to gender-based violence.
In Budget 2018, the WES Ecosystem Fund was allocated $85
million to help non-profit, third-party organizations which deliver
support for women entrepreneurs and address gaps in the
ecosystem. In Budget 2018, the Government of Canada allocated
$20 million to the Women Entrepreneurship Fund. Following the
The Government of Canada is advancing women's economic call for applications held in fall 2018, over 3,000 applications were
empowerment with the first ever Women Entrepreneurship received and over 200 projects were funded. The Government
Strategy (WES), a $2-billion investment that seeks to double is pleased to be able to support approximately more than 100
the number of women-owned businesses by 2025. Only 16% of projects by investing an additional $10 million in the Women
Canadian businesses are owned or led by women and yet studies Entrepreneurship Fund. With this additional investment, the
show that by advancing women's economic participation in the Government is providing a total of $30 million to women-owned
economy Canada could add up to $150 billion in GDP. WES is a and -led businesses across Canada to grow their businesses and
whole-of-government approach to helping women grow their reach new markets.
businesses through access to financing, talent, networks and
expertise.

Saudi Arabia: Monshaat Spends Over SR800m on 824 Small and Medium Saudi Enterprises

The Small and Medium Enterprises
General Authority (Monshaat) announced
that 824 enterprises (SMEs) had
benefitted from its indirect lending
initiative to the tune of over SR800 million
($213 million) on. Authorized by the Saudi
Arabian Monetary Authority (SAMA), 17
ؽ൅ݓࠢ๶Էြ࿹࣮ᇏྏ
companies have become partners in the
initiative, helping to raise the funds. The
indirect lending initiative, launched by
Monshaat in cooperation with the Social
Development Bank, aims to provide low-
cost loans for SMEs and entrepreneurs in
the Kingdom.

Monshaat designed it so that guarantors
and lenders came from a diverse range of
backgrounds, sharing the burden across
the Saudi private sector and widening the
reach of their investments. The initiative was launched with resources of SR1.6 billion ($426 million). Monshaat urged male and female
entrepreneurs and owners of SMEs to visit its website idl.monshaat.gov.sa to benefit from the initiative, where they will be able to check
all the details related to the initiative and the partners authorized by SAMA.

The initiative is an important cog in the Kingdom's broader economic and social outlook, which aims to help to boost SMEs to the point
that they contribute up to 35 percent of Saudi gross domestic product by 2030.