The Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) today called on Island women entrepreneurs to get involved in setting the future direction for the PEI Business Women's Association.

"ACOA recently announced a $17 million Women in Business Initiative designed to offer strategic support for women entrepreneurs in Atlantic Canada," said Minister Byrne. "In assisting the PEI Business Women's Association, ACOA is delivering upon its commitment to improve the growth and competitiveness of women-owned business in this region."

ACOA is funding a strategic planning exercise for the PEI Business Women's Association, which is being carried out by T. Allen & Associates of Charlottetown. Along with a review of statistical data related to women in business on PEI and existing models for business women's associations, Island women are being invited to provide their input before November 30, 2002 by visiting the following web site:http://www.tallenassociates.com/PEIBWA.asp

The information gathered will be used to develop a three- year strategy and plan to assist the PEI Business Women's Association in determining its future as a relevant and useful resource. The plan will lay out an organizational structure, program/service offering and business plan. It will be shared with interested Island women entrepreneurs at a meeting on January 16, 2003.

"We want women who own a business - or who are interested in starting one - to share their thoughts on the types of programs and services that would respond to their particular needs and fulfill their expectations in terms of a professional organization for women in business on PEI," said Cathy Rose, President of the PEI Business Women's Association. "ACOA's recent focus on addressing the obstacles facing women entrepreneurs has enabled us to breathe new life into our association, and we need support from Island women to be successful."

Research indicates that the characteristics of both Atlantic women entrepreneurs and their businesses differ significantly from their male counterparts in the region and from their female counterparts nationally. Women entrepreneurs in Atlantic Canada appear to be at a relative disadvantage in terms of the skills and experience they bring to business start-up and growth. They are less likely to have previously owned a business and so typically lack expertise in financial management and business planning. Financing obstacles are also particularly acute for women-owned firms, especially for start-up and early- stage investments.

The Women in Business Initiative (WBI) is one of three key components of the Entrepreneurship and Business Skills Development Partnership (EBSDP), a $59.6 million program unveiled by the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) in October 2002. The WBI seeks to improve the growth and competitiveness of women-owned businesses and increase their representation in Atlantic Canada's emerging growth sectors.

Rachel Sullivan						
Office of the Minister of State for ACOA		
(613) 941-7241
							
Danielle Gauthier					
ACOA PEI and Tourism		 
(902) 566-7569

Cathy Rose
PEI Business Women's Association
(902) 566-5313