Meet The Halifax Entrepreneur Whose Driving Force Is The ‘Economic Power Of Women’
HALIFAX–When Eleanor Beaton was just a teenager, her mother told her a truth. She didn’t realize it at the time, but that truth would set Beaton on her career path.
“I remember her saying to me when I was 14 that money is power,” Beaton recalled in an interview with Huddle. “The economic power of women has been a driving force since I was 14.”
Beaton’s Mother, Manu Davies, came from the Fiji Islands and had a career as a teacher. Until Eleanor was five, the family lived in the United Kingdom.
When the family immigrated to Wolfville, Nova Scotia, Manu became a stay-at-home mom rather than continuing her career as a teacher.
“She had been the main breadwinner, in fact, when my parents first met,” said Beaton. “When we came here, the culture was totally different so she decided to be a stay-at-home mom. She was financially disempowered.”
Beaton’s parents had a loving relationship but her father, John Davies, who was a professor, had the financial power in the family because of his career. So, when her mother told her that money equals power, it was a powerful statement.
“My parents had a great relationship but if they disagreed about money, my mother didn’t have financial power to make her own financial decisions,” Beaton recalled.
In 2016, Beaton decided to start a unique business that would serve to empower women financially. That’s when she founded Safi Media in Halifax. The company specializes in helping female entrepreneurs build their leadership and business development skills.
In the past year, Safi Media has helped 150 clients around the world “position, price, and package” their services. Even though Safi was founded in Halifax, Beaton and her team have clients in places like Kuwait, Bulgaria, The Netherlands, Mexico, and Ecuador.
“They have unique challenges and unique perspectives and that’s what is so powerful about bringing them together,” said Beaton. “They want success that’s sustainable.”
Beaton’s hard work and tremendous leadership were recognized in Toronto at the 40th Annual Harry Jerome Awards. The event was held on April 30 and Beaton won the award for Professional Excellence.
The awards, named after the legendary Canadian track and field star, celebrate excellence and achievement in Canada’s Black Communities.
Beaton’s journey as an entrepreneur began 13 years before she founded Safi Media. In 2003, she started a communications consulting company and discovered firsthand the barriers women business owners face.
She noticed that she had less access to networks in the business community compared to her male counterparts. There was even a pay gap when it came to contracts.
“When I was a new entrepreneur, there were so many cases where I was paid half of what, I would later discover, male contractors were making,” recalled Beaton. “That creates a capital deficit that can be so hard to come back from.”
Beaton also felt the lack of network connections when she had to shutter her first business, while a male counterpart she knew was able to sell his off.
Here in Nova Scotia, Beaton has seen progress with female-led businesses, but major inequities remain.
“Women are still struggling to secure venture capital. That’s a huge issue when it comes to scaling businesses,” said Beaton.
“There are so many more women entrepreneurs coming into the marketplace today. And I think there’s strength in numbers. A lot of women entrepreneurs are still suffering from having businesses that aren’t properly capitalized.”
Safi Media has an ambitious goal to double the number of female entrepreneurs who earn more than $1-million in revenue by 2030.
As a member of Halifax’s Black community, Beaton has also seen tremendous accomplishments and strides with Black-owned businesses. She mentioned Ross Simmonds, the owner of Foundation Marketing, and the Black Business Initiative as local examples of inspiration.
But there are still barriers to overcome, such as access to business loans and other capital.
“There’s no question that Nova Scotia has a dynamic Black Presence in the business community. There’s so much great work that’s being done in the Black community,” said Beaton.
“On the other hand, there’s still systemic anti-Black racism. We’re still seeing that Black Nova Scotians are more likely to face barriers to growing their companies. There are still systemic issues that we need to address as a society.”
When asked what leadership skill she thinks is most important for a business person to learn, Beaton said it’s “willingness.”
Not just willingness to do the work required as a business owner, but a willingness to go through a rollercoaster of emotions.
“As a business leader, you are looking to create something that didn’t exist before–so you’re often creating something out of nothing,” she said. “That requires courage, it requires perseverance. But, most importantly, it requires a willingness to be open to vulnerability.”
“The more a leader is willing to experience those things, the more we’re able to harness the full powers of our creativity, our intellect, and engage in business problem-solving.”
Derek Montague is a Huddle reporter in Halifax. Send him your feedback and story ideas: [email protected].