BMO, with Deloitte, renews its commitment to women entrepreneurs, offering $100,000 in grants and support
BMO, in partnership with Deloitte Canada, has announced today the continuation of its BMO Celebrating Women Grant Program.
This initiative is designed to support women-owned businesses that contribute to at least two of the United Nations Sustainable Development Goals (UN SDG). The program will provide $100,000 in total, awarding $10,000 each to ten qualifying businesses.
Additionally, recipients will gain access to a range of support services. These include guidance from a BMO business advisor, participation in BMO for Women workshops, seminars, and events.
They will also potentially become members of select organizations and advisory boards, receive a profile on the BMO website, and earn a social badge recognizing them as grant recipients.
Applications for the grants are open from April 30 to May 14, with winners to be announced in fall 2024.
Sharon Haward-Laird, BMO general counsel and Executive Sponsor of BMO for Women, emphasized the pivotal role of women-owned businesses in the economy, noting their capacity for innovation and sustainability, significant contributions to job creation, and impact on GDP growth.
She stated, “The BMO Celebrating Women Grant Program is another way our bank is working to empower women-owned businesses in Canada as they make measurable, long-lasting impacts.”
Emmy Babalola, partner at Deloitte Canada, echoed the sentiment, highlighting the importance of empowering women-owned businesses for driving innovation and economic growth.
The BMO Celebrating Women Grant Program, inspired by BMO’s commitment to growth and support for women in business, was launched in 2020.
Over four years, it has expanded to include a diverse range of sectors and industries, supporting 56 women-owned businesses across North America with over $500,000 in grants. This support has connected recipients to business advisors and a vibrant professional network.
BMO’s commitment extends beyond the grant program, including initiatives aimed at increasing the number of women-owned businesses across the bank’s Canadian footprint, with over 146,000 businesses supported and more than $10bn in loans as of 2023.
BMO for Women focuses on advancing gender parity and empowering women regarding their financial futures. Additionally, BMO’s partnership with 1871 has fostered the WMN FINtech program, contributing significantly to the number of women fintech founders in North America.
BMO also supports The Carol Shields Prize for Fiction, which is the largest English-language literary award for women and non-binary writers in Canada and the US, aiming to address inequalities in the literary field.
For the fourth consecutive year, BMO has been recognized in the 2024 Report on Business, Women Lead Here list, which benchmarks Canadian businesses with the highest achievement in executive gender diversity.
