Women in business fund draws instant support from community

A women in business fund that launched last Friday in Summerside has grown six-fold thanks to outside support.

Moyna Matheson, the owner of Samuel's Coffee, announced the Brewing for Better Balance Fund on International Women's Day, to encourage other women to start their own businesses in the P.E.I. city.

It was a small initiative, $500 out of her own pocket, but it quickly attracted attention. Within 24 hours she not only had applicants but several calls from anonymous donors offering to add to the fund. The provincial government also contributed, and the fund now has $3,000 in it.

Matheson is planning to offer either all the money to one business, or $1,500 each to two businesses, depending on the strength of the business plans submitted. She said there will also be a mentoring component, but she believes the vote of confidence entrepreneurs will receive is also important.

"For me, that's what I lacked, was just the belief in myself that I could do this," she said.

"I think generally as women we tend to maybe doubt ourselves or second guess ourselves a little bit, maybe especially when we're entering different roles that maybe have been dominated more by the male population."

Matheson has put together a small team to review applications, and has also spoken with other businesswomen in Summerside who are willing to help with the mentoring. She said she already has seven applicants and choosing among them will be difficult.

The deadline for applications is March 30, and Matheson hopes to announce the recipients by mid-April.

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