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NLOWE releases economic action plan

Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE) CEO Paula Sheppard looks on as Finance Minister Cathy Bennett speaks at the release Wednesday of Unleashing the Potential of Women: An Economic Action Plan for Newfoundland and Labrador.
Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE) CEO Paula Sheppard looks on as Finance Minister Cathy Bennett speaks at the release Wednesday of Unleashing the Potential of Women: An Economic Action Plan for Newfoundland and Labrador.

The Newfoundland and Labrador Organization of Women Entrepreneurs released a economic action plan today (Wednesday) that it hopes will lead to more women-owned businesses and increase the number of positions for women in senior leadership roles.

Nalcor executive vice-president corporate services and offshore development Jim Keating and Finance Minister Cathy Bennett, who is also minister responsible for the Status of Women, attend the release of the Newfoundland and Labrador Organization of Women Entrepreneur’s economic action plan Wednesday in St. John’s. Keating is Nalcor’s diversity and inclusion council chairman.

Unleashing the Potential of Women: An Economic Action Plan for Newfoundland and Labrador provides recommendations to private sector organizations, government, public institutions and others.

The reports recommendations include more supports for women entrepreneurs, including a small business loan program, training and that government buy from and track purchases form women-owned businesses.

The report also suggests municipalities be educated on the benefits of small businesses and how to attract entrepreneurs.

Other recommendations centre on diversity and ensuring there are gender diversity policies and those policies are followed, including setting targets for women-owned suppliers.

Another set of recommendations adv ocates family-work balance, including flexible work polciies, avaialbe and affordable child care.

The document also suggests the accomplisments of women be profiled and businesses ecnoruaged to mentor women and girls.

Barriers to women advancing in senior leadership include lack of networking opportunities, lack of mentors, gender stereotypes, lower self-confidence, limited work experience, family commitments, geography and busiensses not being aare of the benfits of diversity and a perception it’s more expensive to hire women.

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