Langley Women’s Business Network Releases “State of Canadian Women in Business” Report

August 21, 2024

The Langley Women’s Business Network (LWBN) has released its “State of Canadian Women in Business” research report to mark its one year of service to women in the local business community.

The research report provides valuable insights into how far we’ve come on gender parity in our business community, highlighting both the progress made and the challenges that remain in achieving gender equity in senior management roles, business ownership, and other key economic metrics.

Key Findings:

Women in Leadership: While women have almost reached parity in overall employment (48% in 2023), their representation in senior management positions in the private sector has shown slow progress. BC leads Canada with 39% of senior management roles occupied by women, compared to the national average of 35.6%, but at this pace gender parity in management will not be reached for decades.

Business Ownership: Less than 1 in 5 private businesses in Canada are majority-women-owned, with significant disparities across sectors. Retail trade (26.2%) and professional services (20%) have the highest rates of female ownership, while extractive industries (5.8%) and construction (3.7%) are at the lower end.

Economic Contribution: Women’s contribution to the Canadian GDP is estimated at $637 billion. Achieving gender parity could potentially add an additional $150 billion to the national economy, the equivalent of the combined economies of Manitoba, Saskatchewan and Prince Edward Island.

Source: Read the full article here