May 25, 2021

On the other side of bold

A new Growth Untapped report from the Brookfield Institute of Innovation and Entrepreneurship highlights how supporting entrepreneurs from diverse backgrounds is not only ethically important, it is also critical for fostering innovation. By supporting the success of entrepreneurs from diverse and intersecting identities – for example related to race, ethnicity, class, disability, sexual orientation, gender, age and geography – we can generate the bold new ideas we need to drive recovery.

Still, a recent ISED study of SME-ownership demographics showed that in 2017 only 15.6 percent of SMEs were majority owned by women, 12.2 percent by visible minorities, and just 1.4 percent by Indigenous persons. College and institute programs, support services, and specialized entrepreneurship spaces can help us do more to tap into the potential of these underrepresented innovators:

Looking towards recovery and a more prosperous and equitable future, we have an important opportunity to think about how we can encourage inclusive recovery. Entrepreneurs help us challenge our own perceptions, processes, and ways of doing business. We need more Canadians to think outside the box!