Everything you need to know about new funding available for Canadian small-business owners

Small businesses are the backbone of Canada’s economy. Women entrepreneurs, including those from diverse or underrepresented backgrounds, play a huge role in driving innovation, creating jobs, and shaping our communities.

Every day, these small business owners put in hard work and creativity to turn ideas into reality. And sometimes, all it takes is a helping hand from someone who recognizes that effort and wants to support their growth.

That’s why, until March 24, Canadian women small business owners are invited to apply for the Mastercard Small Business Fund.

The challenge

Women make up nearly half of Canada’s workforce. However, they’re underrepresented in Canadian entrepreneurship due to things like gender stereotypes, biases, and societal expectations.

For example, women are often met with skepticism from investors and receive smaller bank loans than their male counterparts.

The Mastercard Small Business fund

Now in its fourth year, the Mastercard Small Business Fund is a platform that provides access to capital, community, and networks.

Women small business owners could receive a $10,000 grant and resources to equip their business for future growth, along with tailored mentorship, access to additional support, and a Priceless Experience in Toronto.

Past recipients

Mahara Mindfulness co-founders Sheba and Genevive (Mastercard)

“Receiving funding from Mastercard was a game-changer for us — it gave us the momentum we needed to scale our operations and reach new audiences,” says Sheba Zaidi, co-founder of Mahara Mindfulness and a previous fund recipient.

Mahara Mindfulness’s main product is The Human Being Journal, a mindfulness journal that encourages users to capture their life vision, track accomplishments, and uncover their purpose.

“As a small business owner, every day can feel like a new journey, but having access to new resources and networks has allowed us to uncover opportunities and feel more prepared for what’s ahead.”

Other notable past recipients include Barbet, a flavoured sparkling water company; aaniin, an Indigenous retailer; and Lesley Hampton, an Anishinaabe artist and fashion designer.

Even more support

aaniin co-founder, and Mastercard Small Business Fund recipient, Chelsee Pettit (Mastercard)

In addition to the Small Business Fund, Mastercard is committed to supporting Canadian small business owners through resources and support designed to meet their needs wherever they are at.

This includes the Small Business Navigator, a suite of resources designed to address key areas of need for small business owners, like cybersecurity education and cash-saving offers, and the Small Business Community, which offers resources to drive business growth and digital enablement.

Mastercard’s Small Business Fund is seeking applications from Canadian women small business owners until March 24. Apply online today, and while you’re at it, check out Mastercard’s other resources for all small-business owners.