4 in 5 Canadian Women See More Opportunity Than Ever in Owning Their Own Business, Despite Challenges: GoDaddy Survey

TORONTO, ON / ACCESSWIRE / March 3, 2023 / GoDaddy released data from a new survey exploring the opportunities and challenges associated with women entrepreneurship in Canada. The data, which arrives in the lead up to International Women's Day and builds on a previous GoDaddy survey from 2021, shows that 80 per cent of Canadian women see more opportunity than ever in starting their own business despite battling burnout and a challenging economic climate.

The Unstoppable Women study from GoDaddy found that most Canadian women started or intend to start their small business in pursuit of financial opportunities and lifestyle flexibility-this is a shift from 2021, when a GoDaddy study found the majority of millennial women cited passion as the driving force behind their small business dreams.

Amid ongoing cost-of-living challenges, close to half (49%) of women looking to start a small business or side hustle say increased financial opportunities are the top motivator, over flexibility or autonomy.

However, the survey also sheds light on perceived barriers for women looking to start their own business, with time commitments and set up costs ranking top of the list. Household commitments also remain an important factor-one in three Canadian women say they are a primary caregiver with children under 18, and an overwhelming majority (81%) state they are chiefly responsible for household duties, regardless of caregiving obligations.

Underlining these barriers is the need for mental health support. More than three-quarters (78%) of Canadian women surveyed say they have experienced burnout at some point in their careers. At the same time, women entrepreneurs say that confidence and adaptability have been critical to their business success-underpinning the importance of support systems that help women entrepreneurs feel confident in their business journeys, and tools that empower them to adapt to headwinds.

Canadian Women are Unstoppable: Meet Sadaf Rahimi, Charcuterie Vancouver

As part of its Unstoppable Women campaign in honour of International Women's Day, GoDaddy is sharing stories from unstoppable Canadian women entrepreneurs to celebrate their accomplishments and inspire more women to follow their small business dreams.

Sadaf Rahimi, owner of Charcuterie Vancouver, founded her business in late 2019. As the pandemic halted events in 2020, Sadaf had to quickly rethink her business plans, which centered on event catering, and instead offered smaller, individual charcuterie boxes through her business website to stay afloat.