Feminine Capital in the Context of Globalization

Transcription

1 1 Feminine Capital in the Context of Globalization Dr. Barbara Orser Telfer School of Management University of Ottawa May 12, 2017

2 2 Overview Emerging models of enterprise Feminist theory Resourcing women-owned firms Women s business support services

3 Strength in numbers million Femaleowned firms worldwide Worldwide, women own a stake in 1/3 of all SMEs North America, women own a stake in 1/2 of all SMEs

4 4 Assumptions about the impact of gender No Gender Differences Gender Awareness Gendered Process No impact Might impact performance Constrains/enhances performance

5 5 Assumptions about the impact of gender No Gender Differences Gender Awareness Gendered Process No impact 25% of women entrepreneurs Might impact performance Constrains/enhances performance

6 I would rather take a risk and build my own business than work for someone else. Source: Entrepreneurship at a Glance, OECD, 2016

7 I would rather take a risk and build my own business than work for someone else. Source: Entrepreneurship at a Glance, OECD, 2016

8 I have access to training on how to start or grow a business. Source: Entrepreneurship at a Glance, OECD, 2016

9 9 Changing profiles In 2011, gender affected all measures of enterprise performance in Canada In 2014, only sales per employee, rate of employment differed No difference in growth intentions or aspirations (Rosa & Scilla, Statistics Canada 2016)

10 Individual-level Levels of challenges Firm-level Industry-level Entrepreneurial ecosystem Regulatory environment

11 Feminine Capital Assets women mobilize through venture creation Feminine capital has economic and social value Observed through leadership, firm structures and governance

12 12 Entrepreneurial Leadership Masculine Feminine Financial outcomes Compe77ve Dominant Collabora7ve Rela7onal Empower others

13 13 Gendered Nature of Venture Creation Enterprise Outcomes High Financial High Social Entrepreneurial (venture creation) Process High Masculine Neo-classical Social High Feminine Relational Feminist

14 14 Neo-classical Focused on maximizing shareholder wealth, revenue growth and profit. Governance is typically centralized through private ownership Enterprise Outcomes High Financial High Social Entrepreneurial (venture creation) Process High Masculine Neo-classical Social High Feminine Relational Feminist

15 15 Social Philanthropic: often enterprises initially leverage founder social networks. Governance is based on volunteerism, depending on the community of need. Enterprise Outcomes High Financial High Social Entrepreneurial (venture creation) Process High Masculine Neo-classical Social High Feminine Relational Feminist

16 16 Relational Relational enterprises embrace shared leadership. People, planet, profit Control varies, private, participatory and co-operative Enterprise Outcomes High Financial High Social Entrepreneurial (venture creation) Process High Masculine Neo-classical Social High Feminine Relational Feminist

17 17 Feminist Performance linked to outcomes such as improving the wellbeing of others, particularly women and girls. Governance is typically collective. Enterprise Outcomes High Financial High Social Entrepreneurial (venture creation) Process High Masculine Neo-classical Social High Feminine Relational Feminist

18 18 Entrepreneurial feminism (Orser & Elliott, forthcoming)

19 19 New models of enterprise

20 20 Entrepreneurial (venture creation) Process High Masculine High Feminine Enterprise Outcomes High Social High Financial

21 21 Entrepreneurial (venture creation) Process Founders Teri Kirk The Funding Portal Kathleen Kemp CigBins Janet Longmore Digital Opportunity Trust Marissa McTasney Moxie Trades Enterprise Outcomes High Financial High Social High Masculine High Feminine

22 22 Entrepreneurial (venture creation) Process Founders Teri Kirk The Funding Portal Kathleen Kemp CigBins Janet Longmore Digital Opportunity Trust Marissa McTasney Moxie Trades Enterprise Outcomes High Financial High Social High Masculine High Feminine

23 Individual-level Levels of challenges Firm-level Industry-level Entrepreneurial ecosystem Regulatory environment

24 Resourcing capital Gender differences in firm capitalization No gender differences in terms of lending Women more likely to be discouraged borrowers Literature is mixed

25 Female-focused SME capital Business Development Bank of Canada (BDC) $700 million debt (2016) $50M in VC (2017) SHEO Pique Ventures MarS (BDC) Start-up Canada (Dell) Vancouver Founder Fund

26 26 Resourcing capital 1979: Need for financing (D. Lavoie) : More complex than thought Emerging factors: Differences in scale (Rosa & Scilla, 2016) Difference in financial knowledge (OECD, 2016) Differences in risk aversion (OECD, 2016) Differences in productivity (Orser et al., 2016)

27 Digital adoption (Start-up Canada, 2017) Women entrepreneurs are 20 percent less likely than male entrepreneurs to adopt digital technologies to start, operate, and scale their firms.

28 Country comparison of ICT Index 1.00 Belgium Canada (English) United States Canada (French) Austria Finland Japan Sweden Male Female

29 29 Entrepreneurial ecosystems Source: Isenberg, 2009, 2010, 2011

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31 31 Takeaways 1. Resourcing: inclusive ENT ecosystem 2. Theory: feminine capital + feminism = femininities (Lewis, 2014) 3. New models: entrepreneurial feminist 4. SME support services: not just add women and stir