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MASTERCARD LAUNCHES CAMPAIGN IN SUPPORT OF WOMEN-OWNED SMALL BUSINESSES to small businesses across the globe , including Canada . The funds will support the financial security , vitality of businesses and their workers as well as their online expansion .
Mastercard launched its new ‘ Secret Sauce ’ small business campaign to elevate the visibility of women small business owners in the culinary space and help equip them with the support , funding and resources they need to grow their businesses . The initiative will kick-off with a national ad campaign highlighting three women who have overcome unique challenges to maintain and grow their businesses .
The campaign includes a funding programme , in partnership with Pier Five , to help women small business owners further grow their businesses . It also promotes the use of a Google Maps feature that allows people to identify , shop and support womenowned small businesses as a way to drive meaningful impact in the community .
This campaign builds off Mastercard ' s pledge , announced in 2020 , of US $ 250 million in financial , technology , product and insight assets over five years
" In Canada , small businesses serve as the foundation of our economy and are the pillars of communities . However , many Canadian women who start their own business make less than their male counterparts ," said Nishant Raina , Small Business Lead , Mastercard in Canada . " Women-owned small businesses need access to support and resources that will empower them to thrive . This campaign does just that – it gives women-owned small businesses a platform to connect with customers and creates a powerful community of peers and mentors to learn from and inspire the next generation of entrepreneurs ."
From cash flow to operational efficiency , small businesses are often overstretched for resources . This issue is only compounded with the fact that 80 % of food service businesses have taken on new debt over the last two years with women-owned small businesses in Canada taking nearly two times as long to recover .
" Being a catalyst for the small businesses community means supporting all of them – especially groups facing a greater set of challenges ," added Raina . " The power of connection is at the core of what can drive change and make small businesses successful . By building a community of entrepreneurs and showcasing their stories , we ' re helping create a wealth of knowledge and experiences that owners can analyse , apply key learnings and ultimately prosper from ." �