Speaking Notes
Premier Kathy Dunderdale
Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE)
February 7, 2011
Sheraton Hotel Newfoundland, St. John�s

Good morning.

I am extremely pleased to be able to join you today.  It is tremendous to see so many familiar faces
here this morning. 

I�ve been very fortunate over the course of my political career to have been able to work and get to know many of you here today. 

Whether it was in my capacity as Minister of Innovation, Trade and Rural Development, Minister of Natural Resources or Minister Responsible for the Status of Women, a constant has been my commitment to advancing the interests of Newfoundland and Labrador�s business community, including female entrepreneurs.

At my Swearing-in Ceremony when I became Premier this past December, I commented that when I looked at my grandchildren I was reminded how different life was for my own grandmother.

Until 1925, a woman could not even vote in Newfoundland and Labrador, and today, for the first time in our province�s history, a woman serves as Premier.

Socially, as well as economically, we have come a long way � the progress we have made has been tremendous.

The fact that I, a woman, am Premier of Newfoundland and Labrador, and I am joined at the Cabinet table by some very strong female voices points to that progress.

In addition, we have three female political leaders in the House of Assembly, and women are increasingly well-represented in the business community.

Local businesses are capitalizing on opportunities in areas such as tourism, aquaculture, and oil and gas. And economically, our province has never been in a better position.

Historically, Newfoundland and Labrador�s economy was heavily focused on the fishery and forestry with a small manufacturing sector in St. John�s. 

Economic development was limited primarily because of a lack of financial resources.

Today, we are home to an increasingly diverse and innovative business community.  Locally-manufactured products and services from a variety of sectors, such as ocean technology, life sciences, and information and communications, are finding their way into global markets.

How far the local business community has come was evident over the last 18 to 24 months when global economic conditions wreaked havoc on businesses and industries all over the world.

Newfoundland and Labrador was certainly not immune to the global recession.

In the province�s central region, we lost a paper-making mill that had been operating for a hundred years.  Our traditional industries watched as the Canadian dollar rose, markets became smaller, and prices fell.

While these were significant areas of concern, the provincial economy, compared to that of other jurisdictions, withstood the economic storm relatively well.

Craig Wright, senior vice-president and chief economist for RBC, noted recently when talking about Atlantic Canada that an �economic bright spot for 2010 is an extra spring in Newfoundland and Labrador�s step as the province will yield the highest growth in the country.�

Mark Carney, the Governor of the Bank of Canada, travelled to Newfoundland and Labrador last fall and stated that this province is an economic model for the rest of the country.

What have been the factors behind our success?  Why are we earning such positive endorsements?

One can certainly point to our offshore oil production and to the gross value of our mineral shipments that continue to climb.

In addition, reducing debt, investing wisely, and being good stewards of our public treasury have put us in an enviable position, both in Canada and North America.

While other jurisdictions are still getting their legs under them as they work to rebound after the global recession, our province will lead the country in GDP growth for the second year in a row.

Although recessionary effects continue to linger globally, we are performing well in many economic indicators such as labour income, retail sales, housing starts, capital investment and employment.

In addition to the significant money we are investing in infrastructure this year and beyond, we have major resource projects that are coming on stream, with significant private sector investment.

Another very exciting development for our province is the Lower Churchill Project � Muskrat Falls.

Last week I was in Ottawa and had the opportunity to meet with our Prime Minister.

A loan guarantee for Muskrat Falls was one of the things I raised in our meeting and I really hope the Prime Minister sees the huge benefits this deal has, not only for the people of this province, but for Atlantic Canadians and indeed the entire country.

Muskrat Falls is a stellar clean green energy project that has so many benefits: the reduction of greenhouse gases, stability in electricity rates, and job creation (8,600 direct person years of employment right here in Newfoundland and Labrador).

Plus the benefits to Nova Scotia and Atlantic Canada, not to mention the feather in the hat of the Federal Government for supporting a project that is so beneficial to the environment. 

There is a marvelous opportunity here for the Federal Government in providing a loan guarantee for this project � no risk and so many gains, from all angles, environmentally and economically.  It just makes sense.

The momentum built up here in our province is incredible and of course the contribution of local businesses has been so important. The membership of NLOWE no doubt is represented across a variety of industry sectors. 

Women are no longer content with knocking on the door for entry into the business community but are knocking the door down. 

One has only to look at NLOWE�s annual Entrepreneur of the Year awards to get a glimpse of the positive activity that women in business are creating throughout Newfoundland and Labrador.

And, as I look around this room this morning, I know each of you is working on your own success story as an entrepreneur and our province is greater because of your aspirations, your commitment and your fortitude.

My own mother was an entrepreneur on the Burin Peninsula. She was involved in a number of business ventures, which was impressive enough in those days, but she also, with my father, raised 11 children, giving us a warm, nurturing environment while bearing the responsibilities and pressures of being a businesswoman. Her spirit, determination, drive and work ethic have inspired and propelled me throughout my life.

As a government, we have taken a collaborative approach to supporting local businesses. 

We see collaboration as being an integral component of our business and social development agendas.

I think that Helen Keller said it best when she said �alone we can do so little; together we can do so much.�

With Ms. Keller�s comments in mind, the Provincial Government, through the Department of Innovation, Trade and Rural Development, have cemented close ties and formed a very valuable partnership with NLOWE.

We have worked closely over the years in a variety of ways, including trade activity to Iceland, coordinating Selling to the Public Sector events, and offering business training for NLOWE members throughout Newfoundland and Labrador, but our most recent venture is particularly exciting.

Together the Provincial Government and NLOWE have formed a network of women business owners who have joined forces to pursue export markets for their products and services.

Through this network, business owners can leverage the advantages of being a woman-owned business.  They can also obtain certification with WeConnect Canada, a leading international certification standard for Canadian women-owned businesses.

Such certification, along with the pooling of resources, can help open the door to supply chains of larger corporation and public sector organizations with supplier diversity policies.  Network members can also acquire valuable skills related to export readiness, market entry strategies, and contract negotiations.

This collaborative effort is leading the country in developing a supplier diversity strategy for certified women business owners.

Later this month, the Provincial Government and NLOWE are leading a trade mission to Florida and Louisiana.  It is a trade mission that takes aim at identifying new business opportunities and international partnerships that could lead to greater success. 

I strongly encourage anyone who may be interested in going to make contact with NLOWE or officials at the Department of Innovation, Trade and Rural Development.

I�d like to thank Nena Abundo and her team for playing such an instrumental role in helping to create new opportunities for women entrepreneurs.

Our government made a commitment to the men and women of Newfoundland and Labrador that we would maximize the benefits attached to our natural resources.  It has been and will continue to be a driving force in our approach to building a prosperous Newfoundland and Labrador. 

We�re particularly keen on creating a business environment to encourage women entrepreneurs to benefit from economic activity in the province�s growing energy and mining sectors. 

This emphasis was highlighted in the development of Gender Equity and Diversity Plans for large-scale resource projects including Hebron, the Hibernia South Extension and Lower Churchill.

These requirements are a key step in enabling the increased participation of women-owned businesses in the energy sector.   

They present real opportunities for local supply and service development and diversification.

This administration also is highly committed to addressing barriers that women can often experience in the workforce. 

We established the Skills Task Force � a partnership of government, education, industry, labour, business and other key stakeholders to aggressively develop the province�s skilled workforce. One of the key recommendations from the task force was to promote participation by women in the skilled trades.

The Office to Advance Women Apprentices was established in response to this recommendation.

We�re steadily increasing the ability for women to participate in the skilled-trades and non-traditional occupations.   By creating these opportunities we are broadening the depth of the province�s workforce.

So there is no doubt that the future for women in business in Newfoundland and Labrador is brighter than it has ever been in our history.

Success is there for the taking and this government�s track record in helping women entrepreneurs is clear. We are behind you and we are proud of what you have accomplished.

The future has never been brighter for our province and its business community. 

By working collaboratively with groups like NLOWE and looking beyond our natural borders, we will continue to make waves and generate momentum.

Thank you to Nena and her team for the opportunity to share some remarks here today. 

I�ve enjoyed the atmosphere here of optimism, excitement and energy � what else could one expect in a room full of women entrepreneurs?

Thank you.


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