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Thunder Bay, Ontario. — Measuring the annual success of the Palo Women’s Enterprise Center isn’t just about how well the companies do, it’s all about the circle of women entrepreneurs, their success, and the creation of new businesses and jobs. Rosalind Lockyer, Founder and CEO of Paro He said that. “That’s concerning because small businesses are our economy,” Lockyer said. “That’s why we support local businesses.” Since 1995, Paro has brought groups of women entrepreneurs together to help each other start and grow companies. “Some of the peer lending circles that started here in 1995 still exist,” she said. “We’ve been around for a long time, and we’ve grown and now we’re working with their children and grandchildren.” Paro now operates a team of 49 members and works across Ontario. We support 220 peer lending circles and continue to expand across Canada. Lockyer announced her 700 new business launches in 2022. “This year we hit 935 (in Ontario),” she said. “This year, there will be more than 200 more businesses than last year.” It is also significant that Paro helped her expand 1,234 businesses this year. “We provide funding to help businesses expand, including participating in trade missions, purchasing equipment and implementing advanced marketing plans,” Lockyer said. “Last year, the companies we worked with created 3,391 jobs,” Lockyer said. “Creating jobs is what puts money into our economy.” He says there is. “That empowerment doesn’t just come from training, there’s also a model of self-determination, inclusivity, and understanding what it takes for women to work together to grow their businesses,” she said. . In May, the first Canadian Women’s Entrepreneurship Celebration was held in Toronto, recognizing female business leaders from across Canada. “We were nominated. We competed against every women’s organization in Canada, so I never thought for a second that we would win,” Rocker said. “Paro won the Empowerment of Women in Business Award at the first inaugural event for women entrepreneurs in Canada, and when I say Paro, I mean all the women who make up Paro. Because Paro is a really strong community of very brave women entrepreneurs. Bold and fierce.” To launch and grow a business, you have to be fierce, she added. She says access to capital is always a challenge for any business, especially for women entrepreneurs. Lockyer said corporate funding structures stem from “the patriarchal norms of banking” and are “unfriendly to women”. Partnerships formed to finance loans “We have fostered a strategic partnership with the Commodity Futures Trading Commission (CFTC) over the years and have established 40 agreements across the state.” these partnerships, she said, adding that Thunder Bay Ventures and Alterna Savings and Credit Union are among them. “We also partnered with the Women’s Enterprise Organization of Canada (WEOC) last year for funding. We are WEOC’s Ontario Loan Fund partner,” she said. Through the WEOC Women’s Entrepreneurship Strategy, Paro can now help women access loans of up to $50,000. She said the funding comes from loan investors and the government, and Paro is part of their payroll. “Through our partnership with WEOC, we have made $2.3 million in loans in Ontario alone, representing 60 per cent of our loans from across Canada,” she said. “Since 2010, through our circles and programs, we have donated more than $12 million to women in Ontario. When we put that money in women’s pockets, they put it into the economy and create ripples. Funded by Innovation, Science and Economic Development Canada, the Federal Economic Development Board of Northern Ontario (FedNor) and the Federal Economic Development Board of Southern Ontario (FedDev) are providing funding through the Women’s Enterprise Ecosystem Fund. Masu. “This is the program that has helped us establish circles across Canada,” she said. Lockyer said her company provides all the basic training new entrepreneurs need and stands by them until they reach their goals. “It’s been proven that if you have the support of your peers when growing your business, you’re seven times more likely to be sustainable than she is.”
Sandy Krasowski, Local Journalism Initiative Reporter, Chronicle Journal
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