Some 3.3 million Canadians plan to start a business within the next five years, and approximately 900,000 are looking to be their own boss by the end of 2008, according to RBC’s annual small business survey,
The survey shows some interesting contrasts between the backgrounds of existing entrepreneurs and would-be entrepreneurs.
For example, while over one-fifth (21%) of existing entrepreneurs responded that they had previously held executive/managerial positions, only 15% of those planning to set up their own businesses come from an executive/managerial background. Furthermore, while only 9% of existing entrepreneurs cited previous experience in blue collar/labourer work, 13% of would-be entrepreneurs are emerging from blue collar/labourer backgrounds.
“What we’re seeing is that anyone who wants to be, feels it is possible with or without management experience. This is likely due to the strong appeal of being your own boss and the wide array of support tools and expertise readily available to help,” said Kris Depencier, head of small business client strategy for RBC, in a news release. “Even better, these resources can be tailored to meet the needs of Canadian business owners. One size does not fit all, and Canadian entrepreneurs no longer have to contend with an ‘off the shelf’ approach when they seek out support.”
According to the survey, emerging entrepreneurs are also subtly shifting their preferred industry focus. Of the top three industries targeted by would-be entrepreneurs in 2005, personal services/arts/crafts has now dropped from 17% to 15%; retail is down from 13% to 11%; and business services/communications/management consultant has fallen from 11% to 8%. Meanwhile Internet/online services (a new aspiring entrepreneurs category in this year’s survey) was cited as industry of choice by 12% of Canadians planning to establish their own enterprise.
Almost 900,000 Canadians hope to be their own boss by next year, survey finds
One size does not fit all Canadian entrepreneurs
- By: IE Staff
- September 28, 2007 October 31, 2019
- 08:25