Federal funding announced in Gore Bay, Ontario, is poised to enhance economic prospects for women entrepreneurs in northern Ontario, as reported by the La Cloche Manitoulin Business Assistance Corporation (LAMBAC). Carol Campbell, Executive Director of LAMBAC, mentioned that the ongoing support for the Northern Ontario Women (NOW) program will benefit over 110 women-led businesses and help create almost 145 full-time jobs.
“We are honored to spearhead this vital initiative, which empowers women to chase their entrepreneurial aspirations while driving job creation, economic development, and a sustainable economy,” Campbell stated in a release from the federal government on Thursday.
Nickel Belt MP Marc Serre announced a significant investment of $999,620 from the Government of Canada. This funding will enable LAMBAC to maintain its administration of the NOW program, which offers up to $5,000 in financial assistance to women-owned and women-led small businesses. The funds are earmarked for professional services and training costs, facilitating the launch or expansion of these enterprises.
The program targets the unique challenges faced by women entrepreneurs, especially in rural regions where access to essential services and training can be restricted or costly. “Today’s announcement is excellent news for our regional economy and delivers an encouraging message to all women in northern Ontario contemplating entrepreneurship,” emphasized Serré.
All 24 Community Futures Development Corporations (CFDCs) in northern Ontario are involved in promoting the NOW program and conducting local training initiatives. Since its launch in 2019, the NOW program has assisted nearly 400 women-owned and led businesses, leading to the growth and modernization of over 260 enterprises and the creation of more than 300 full-time positions across northern Ontario.
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