Women entrepreneurs continue to encounter daunting challenges when launching or expanding their companies that aren’t necessarily shared by their male counterparts, says the head of an Alberta group that promotes and funds women in business.

Lorraine Moulding, executive director of the Alberta Women’s Enterprise Initiative Association (AWEIA), says while women-owned businesses tend to be smaller, less profitable and less reliant on exports, more women entrepreneurs than ever are choosing self-employment.

“There are still issues around access to capital, and in part that’s because of the nature of businesses they go into,” says Moulding. “I think they tend to be more high-risk. It’s their intellectual capital that’s the business, and lenders aren’t comfortable with that as a security.”

AWEIA, along with three sister organizations across the western provinces, is funded by Western Economic Diversification Canada, which last week celebrated Women’s Enterprise Initiative Week in recognition of the contribution made by women entrepreneurs to their community and local economies. More than 250 entrepreneurs gathered in Calgary for an awards presentation and to mark the achievements of women in business.

“With all the demands women are expected to meet on a day-to-day basis – managing homes, raising kids, running businesses – not only do we often face unique challenges compared to those of men, but we also face more of them,” said Alberta Senator Joyce Fairbairn, who praised the program for helping create a self-perpetuating network of entrepreneurs. “While we still have some distance to go, we are starting to see those barriers crumble one by one . . . our daughters and granddaughters are not going to have to worry about some of the enormous obstacles that you have faced and challenged, and succeeded in beating with such great skill and spirit.”

An economic impact study released last week shows the four Western Canadian groups – collectively known as Women’s Enterprise Initiative – have provided training, financing and professional business advice to more than 37,000 client entrepreneurs since launching in 1994, including start-up loans that could not be obtained through banks.

In Alberta, AWEIA has loaned more than $5.3 million to women entrepreneurs, resulting in 101 business start-ups and 71 business expansions.

More than 13,000 women have taken training through AWEIA, including business coaching. The impact study estimates about 1,700 full-time and 4,800 part-time jobs have been preserved through the program, while 750 full-time and 2,300 part-time jobs have been created.

Moulding says AWEIA is also working to help women entrepreneurs with the less tangible nuts and bolts of building a successful company, such as networking and business education opportunities.

“Business success is often built on networking and strategic alliances – it’s who you know, who you can refer to and who is referred to you,” she says. “Men will join clubs and go golfing. But because those things are time-consuming, (many) women will decide to spend that time with their families. And that’s an issue we’re struggling with here; how we can facilitate those connections for women.”

Calgary-based Arlene Dickinson, owner of advertising agency Venture Communications, compares being in business for yourself to riding a rollercoaster: “The highs are higher and the lows are lower than anything you’ll ever experience,” she told the AWEIA luncheon.

“I’ve found it challenging, rewarding, depressing and stressful – and that’s all in one day.”

Dickinson added there’s no better feeling for entrepreneurs than when their business is going well, “but when things are bad, when you’re strapped for cash, when you have no energy, when you have few customers, the lows are really hard to see past. And that’s when you’re going to see a lot of snakes and very few ladders.”

Six established and emerging Alberta businesses were among those recognized as Pan West Awards of Excellence finalists at this year’s event, including:
* Rejuvenation Health Services (Edmonton).
* The Replenishing Shoppe Inc. (Calgary).
* Narli Clothing Ltd. (Calgary).
* Scrapbook Sally Inc. (Calgary).
* Avid Manufacturing Ltd. (Edmonton).
* Smith-Clarke & Bennett Inc. (Edmonton).

Scrapbook Sally took home the Alberta Award of Excellence for an Existing Business, while Christine Kinakin of Vernon (Downtown Spectacle Shoppe) and Kim Weimer of Saskatoon (Fastener Warehouse Ltd.) also received WEI awards of excellence.