Despite a $2 billion federal commitment made in 2018 to double the number of women-owned businesses by 2025, the number has barely changed. As of today, women own just 18% of businesses in Canada.

Hudon is candid about the root problems. “Access to capital is probably one of the top three reasons why we don’t see as many women picking entrepreneurship as a career versus men,” she says.

This issue is more than a missed social opportunity — it’s a missed economic one.

According to the Business Data Lab, based on ISED estimates, if Canada had closed the gender gap in business ownership, the economy could have grown by up to 6% — a GDP loss equivalent of $150 and up to $180 billion.

Midway through the episode, Hudon shares how BDC’s $500 million Thrive Platform is tackling this problem head-on. The platform includes funding for women-led companies, a $100 million innovation lab, and efforts to increase women’s representation in the venture capital ecosystem.

Key Takeaways:

• Women ask for less capital than men — and receive even less.
• Women-owned businesses are concentrated in retail, health care, and other limited-growth sectors.
• Less than 10% of businesses in high-growth sectors like tech, construction, and mining are owned by women.
• BDC has launched the $500 Million Thrive Platform for Women.

BDC isn’t just investing money — they’re investing in structural change. The bank is pushing for more women to be part of investment committees to ensure funding decisions are inclusive and representative.

“At BDC, we lend money, we provide advisory services — so, non-financial support — and we invest in venture capital. We have specific strategy on how to go and convince women to start a business, do more, grow and stay in business,” Hudon shares in the podcast.

• Canada has approximately 710,000 “missing” women entrepreneurs. Closing that gap could reshape our economy.
• Investing in women isn’t just the right thing to do. It’s a smart growth strategy.

Hudon’s final message is clear: women need to ask for more and own their expertise. “Be highly confident based on what you know—not what you don’t know. And ask for double.”