Mastercard’s “Secret Sauce” supports women-owned small businesses for the women in Canada
Mastercard’s “Secret Sauce” is an initiative for empowering women. It was introduced for women-owned small businesses. In the culinary industry, it aims in increasing the visibility of female small business entrepreneurs and providing them with the resources, money, and assistance they need to expand their operations. The initiative’s national advertising campaign will debut with a spotlight on three women who overcame unique obstacles to keep and expand their businesses.
To assist women-owned small businesses in expanding their enterprises, the campaign includes a finance initiative in collaboration with Pier Five. To have a significant impact on the community, it also encourages the use of a Google Maps tool that enables users to locate, patronize, and support small businesses run by women.
This initiative expands upon Mastercard’s 2020 announcement that it will provide USD 250 million in financial, technological, product, and insight assets to women-owned small businesses worldwide, including women in Canada. The money will help firms and their employees stay afloat financially, thrive, and expand online.
Small businesses are the backbone of communities and the economy in Canada, however many women in Canada who have launched their own companies earn less than their male counterparts. Small enterprises run by women must have access to resources and support if they are to succeed. In addition to giving women-owned small businesses a platform to connect with clients, this program also builds a strong community of peers and mentors for the next generation to brighten the situations of empowering women in society.
Small firms may lack the resources needed to operate efficiently or manage cash flow. The fact that 80% of food service companies have accrued additional debt in the past two years and that women-owned small businesses in Canada take almost twice as long to recover from financial setbacks only serves to exacerbate the problem.
To showcase, fund, and assist women-owned small businesses in Canada, Mastercard has teamed with Pier Five, a platform that unearths innovative entrepreneurs and helps tell their stories. Five small businesses run by women will each receive $10,000 CAD from Mastercard’s “Secret sauce” campaign to help grow their operations. From October 11 to the end of the month, that was the case. All types of female small business owners in Canada were eligible to apply.
With a long history of helping small businesses in Canada, Mastercard is delighted to have contributed tools, knowledge, and resources to this vital sector of the country’s economy. The following are some of the initiatives.
Tools for managing cash flow and capital are easily accessible, ensuring that small firms have the resources they require to function effectively. Free cybersecurity resources to assist Canadian small enterprises in safeguarding their settings from monetary and electronic attacks. Access to essential tools and resources thanks to collaborations with organizations like Startup Canada, Salesforce, Digital Main Street, and the Canadian Federation of Independent Business (CFIB).
Mastercard is dedicated to assisting Canadian entrepreneurs by providing small businesses with access to funding, digital payment solutions, data insights, cybersecurity solutions, and the tools to run their businesses more efficiently and securely. These options are simply accessible and deployable, allowing small firms to immediately take care of their pressing problems.