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Social Finance + Social Enterprise 
For Ontario and all of Canada

By Michelle Guevara
Government Liaison

From SocialFinance.ca

In November 2012, the Canadian government put out an open call to Canadians to bring forward their most innovative ideas to tackle pressing social issues.  Over 150 individuals and organizations from across the country submitted ideas.

15 of these submissions were selected to be profiled in a report that was unveiled at Women in Leadership’s Women in Social Business Forum May 2013. The summary report, entitled 'Harnessing the Power of Social Finance' highlights ways in which social finance tools and structures can be utilized.  



But what can social finance be used for? Many, many issues.

Youth, Health, Aboriginal people,  Housing/Homelessness, People with disabilities, Public Safety, the Unemployed, Seniors, New Canadians.

With support at the federal level, the provincial Government of Ontario also sees a need to support the growing field by specifically investing in social enterprises; businesses that couple profit with social benefits. Impact a Social Enterprise Strategy for Ontario  outlines the steps the government will take to support social enterprises in the province, accelerate their growth and establish Ontario as a global leader in the area of social enterprise.

With all this government attention, how much is happening?

Currently, there are 10,000 social enterprises in the province of Ontario alone. In the world of social finance, Canada is catching up to the front runners; the U.K. and the U.S. with Australia close behind. And where is social finance and social enterprise catching on the fastest? Developing countries. 

The world is changing; people can see a way to make a living and help other's at the same time. At Women in Leadership, we think it's about time.

 

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I DECLARE!

By Karen Laimite
Membership Coordinator

“The drum is beating ever-louder from economists, development experts and advocates who insist that women and girls are the key to nearly everything needed for a sustainable future, from global health to food security to economic growth. In business, mounting evidence shows women's leadership correlates with long-term outperformance.” This was stated by David Bank, an editor at the Huffington Post. In his blog , he says that women’s empowerment will be transformative and he mentions girls too.

So inspiration is what fuels my words. I have seen a constant trend in young adolescent girls who are passionate about creating change for their futures. Adolescent girls who  know what they want to accomplish and are proactive enough to do what I takes NOW to make that change a reality. I am wowed by the passion, I am wowed by the understanding they have of what needs to change, I am truly inspired by these young female leaders and am motivated to help spread their message.

Earlier this week I was introduced to The Girl Declaration- A call to action for the post 2015 development agenda: it's time to stop poverty before it starts, see here . Now I want to introduce you to these same young women who are looking to create change. They are the key to a solution, they know they were not put on this earth to be invisible and they have a voice and will use it! Let them be an inspiration to you as well. Watch the video

We all have a purpose, we all have a voice, let's make our time count! Don't be afraid to dream and bring your potential to the world!

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Resiliency Has Many Faces But Only One Action: 

Getting Back Up.

Photo from Autism Aspirations 

As someone who has faced her share of personal adversity, I find the conversation of resiliency in business an interesting one. If we don't learn from our personal experiences, how could we hope to stay strong in business? BUT if experience is our only guide, we certainly will not be resilient.

Rosabeth Moss Kanter wrote an interesting post for the Harvard Business Review about surprises and bouncing back in business. There's a lot of research leading to business advice, particularly for leaders to be persons who exhibit resiliency because they show everyone else that things will be okay, that they will turn out in the end. From my perspective, I would define downturns and upturns as a normal business cycle and I wouldn't equate senior level experience with being resilient; but I would view a leader who is humbled and learning and who honestly talks about the business failings as someone who is capable of resiliency because it is those learnings that will give you the hope to get up again.

Resiliency is, for me, more than experience. Some things you will have to try at, fail and try again; other things may be beyond your point of reference. How many of us are prepared for, and knowledgeable about, how to counteract geopolitical upheaval? But the desire to get up and go forward separates the leaders from the followers. The leader will know that everyone must rise; the followers will wait to hear the call to action.

So what place does resiliency have in small businesses, often owned by women? We touch so many people. We set examples for our children. We are seen by our neighbours. We are the influence least measured but most often felt. We embody the human spirit which is to go on. Science has narrowly identified this as biology; don't believe it. It is our desires, our examples PLUS our experiences of the world that tell us to get back up, go back out and reset our business aims. Why do women go into business anyway? Because we can do good with it and we know it, so we do. No, resiliency is not just our experience; it is our spirit and our desire to do more and many, many women exhibit this trait.

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Success Comes in Leaps 

by Tina Crouse,

President of WIL Ottawa

Pre-Women in Social Business Forum

I recently read an article from entrepreneur Patti Keating entitled Success Requires Leaps. It made me think of how when we move from idea to implementation to fruition, it does seem like big leaps. When I decided to hold Canada's first ever 'Women in Social Business Forum', it didn't seem like such a big idea and yet, now that I look back to the beginning of the year and the event's success later in May; it was ONE, BIG, HUGE LEAP!

Full House

It's important to reflect on these 'leaps' and assess what things took us from where we were to our arrival, namely 'Help'. You hear actors thanking people at the Oscar's and you think, 'What are they talking about?' That is, until you are successful and you come to realize that you could NOT have gotten there on your own. Those lovely people who helped you, literally, and those who gave moral support, are the reason you are in the limelight. An excellent example of this can be found on twitter @ProjectEve1. This post by Julia Romanow outlines her thankfulness and excellent ability to partner with her husband to help her towards her success. This is not new; the surprising thing is how few of us do it.

All women work, paid and unpaid, and there is a penchance now in our culture to do so alone. Well guess what, my success came in knowing not to do it that way any longer and that is why, in titling this post "Success Comes in Leaps", I challenge you to step up and drop that habit too. Your dreams, your ambitions, your accomplishments come AFTER you invite others to help you. From experience, I will tell you that it will feel HUGE, it will feel wrong and it will bring you SUCCESS.

Special, special thanks to the unseen team of WIL Ottawa. Who do you think filled all those seats?

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Every New Experience; Every New Opportunity

Infographic by MegaCharlay

by Karen Laimite,

Membership Coordinator

Can we really have it all? This is a concept that has been on my mind for a number of years and with every new experience, every new opportunity I've learned that yes it's possible! First and foremost knowing exactly what it is that you want in your life is crucial, without that you are navigating without a destination. Secondly, it is so important to understand what it will take to make those goals a reality; I best describe this as the recipe to the final product. If you don't have the right ingredients your result may not be what you are expecting. Third, make a plan and stay focused.

I recently came across an article written by Vivian Giang titled Women Want Work-Life Balance More Than A Big Paycheck on businessinsider.com (http://www.businessinsider.com/women-want-work-life-balance-more-than-a-big-paycheck-2013-9)  which outlines the current definition of attaining success from a women's perspective. What I learned is that it's no longer focused on a high salary but instead work-life balance.

I was excited to review the findings of the study conducted by LinkedIn and Cross-Tab because it seems women are fully understanding what it is they want in their life and creating an environment to make those goals a reality. Life is short, we don't live to work but work to live and being able to create a balance between the two and live life to it's full potential is inspiring and exciting.

So remember not to be afraid to expect more out of your life; we are living in a time where we have the choice to design our lives.

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Social Business.  What is it?

written by Michelle Guevara,
Government Liaison

photo credit Tanene Allison

Here at WIL, we argue that many women entrepreneurs partake in business ventures that have benefits to society.  But what is the difference between day-to-day business and a social business?  The term was coined by Mohammad Yunus, and has been defined as  "a cause-driven business" from which investors do not take dividends, or which is owned by the poor or disadvantaged. Presently, it is defined more broadly to include ownership by non-profits, individuals and B-Corps (in North America) but the essence remains the same.

While a definition is a good start, a great example is the best way to understand what social business is all about.  An award-winning example of social business is Sustainable Health Enterprises  - SHE (see video) .  SHE has been receiving international attention for an innovation that is helping girls and women in developing countries to have better access to education and work.  

Many women in the developing world cannot access feminine hygiene products, something that the majority of women in developed nations take for granted.  As a result, they miss an average of FIFTY days of work or school a year!  This puts these women at a huge economic disadvantage.  

The solution to this problem is packaged as a dynamic little business model.  The founders of SHE discovered that banana fiber is highly absorptive, and can be used to make maxi pads.  SHE supports local women and organizations to develop the capacity to produce these maxi pads, and distribute them at 30%-50% less than the market cost.  Suddenly, sanitary pads become affordable, women are able to increase their earning capacity, and their daughters don't have to miss classes, which leads to better conditions for the entire community = SOCIAL + BUSINESS.

To learn more about SHE,  see SHEinnovates  http://www.sheinnovates.com/ourventures.html