Policy Support for Women Entrepreneurs’ Access to Financial Capital: Evidence from Canada, Germany, Ireland, Norway, and the United States

Abstract

This cross‐country study documents policies and practices designed to increase women entrepreneurs’ access to financial capital in Canada, Germany, Ireland, Norway, and the United States. Drawing on feminist theory, we examine assumptions of policy alongside the eligibility criteria, rules and regulations of practices. Our findings reveal that four of the five country policies examined were predicated on a neo‐liberal perspective that positions women entrepreneurs as economic assets. We offer insights into opportunities for modernizing policies and practices in ways that will enhance the legitimacy of a more diverse array of women entrepreneurs and increase their access to financial capital.

Notes

1. See, for example, Government of Canada (2012); EU Evaluation on Policy: Promotion of Women Innovators and Entrepreneurship, 2008; and UK Enterprise Strategy, 2008, 2009.

2. The Global Women’s Enterprise Policy (WEP) Project mandate is to map and compare policies for women’s entrepreneurship, to identify gaps in policy provision, and to highlight examples of effective polices and practice. At the time of manuscript submission, Global WEP comprised scholars from 28 economies, including Europe, North America, Australia and MENA.

3. For purposes of this study, we define “policies” as official documents issued by a government or its designees that articulate priorities or direction. Correspondingly, we define “practices” as specific programs, structures, or legal and regulatory frameworks initiated by government to put its policies into action.

4. There were actually two versions of the U.S. document with different covers. The cover of the document shown on the NWBC website shows artistic renderings of women’s faces. The cover of the “compliant” document, which would be forwarded to the President and Congress shows the Presidential seal.

5. BDC is a Canadian crown corporation devoted exclusively to entrepreneurs.

Additional information

Notes on contributors

Susan Coleman

Susan Coleman is professor of finance at the Barney School of Business, University of Hartford.

Colette Henry

Colette Henry is adjunct professor of entrepreneurship at the School of Business & Economics, UiT—The Arctic University of Norway.

Barbara Orser

Barbara Orser is Deloitte professor in the management of growth enterprises at the Telfer School of Management, University of Ottawa.

Lene Foss

Lene Foss is professor of entrepreneurship & innovation at the School of Business & Economics, UiT—The Arctic University of Norway.

Friederike Welter

Friederike Welter is President of Institut für Mittelstandsforschung and professor at the University of Siegen.