How women entrepreneurs can access a small start-up grant
P.E.I. Business Women's Association offers 2 $500 start-up grants
The P.E.I. Business Women's Association has just launched a new initiative to help women get new businesses off the ground.
It's giving out micro-grants valued at $500 each. The goal is to make it a bit easier for women entrepreneurs on the Island to cover basic start-up costs.
Association executive director Hannah Bell said women often have difficulty accessing start-up capital.
"Women, in particular, are those who maybe have not been in the workforce, or who are underemployed and maybe they don't have a credit rating or credit history," said Bell.
"It's really difficult to borrow a small amount of money and so we looked at it and said, 'We don't want to be a lending agency. What would happen if found a way to actually do a grant?'"
All association members eligible
Bell said the money will likely be used for things like buying business cards or setting up a website.
Applications for the grant open on June 1 and two will be given out this year. It's open to all members of the P.E.I. Business Women's Association.
There are 270 women registered with the organization.
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With files from Stephanie Kelly