50% of Canadians Thinking of Starting a Business, But Most Business Owners Say Don’t
Although over half of Canadians are considering starting a business, most current business owners question whether now is a good time to become an entrepreneur, according to recent statistics.
An RBC poll shows 51 percent of Canadians are thinking of launching a business, up five percentage points from 2023, according to a Sept. 18 news release.
“Historically, we’ve observed strong interest across Canada in starting and owning businesses, and it’s promising to see that a significant number of Canadians in 2024 are aspiring entrepreneurs,” said Don Ludlow, the bank’s vice president of small business, partnerships, and strategy.
The results show that Canadians are looking for ways to “gradually transition to entrepreneurship,” Ludlow said.
The results show that 72 percent of those wanting to start a business are already looking at how to make it happen. Some of their ideas include
- Making money from a passion project or hobby (31 percent)
- Making money outside of a regular job (28 percent)
- Taking on side jobs (19 percent)
- Finding ways to transition from full-time work to freelance (13 percent)
- Developing a business idea independent from a current job (8 percent)
The poll was conducted by Ipsos Canada from June 21 to 25 with more than 2,000 surveys completed online by Canadians aged 18 and older.
Government Help Needed for Small Business
In another poll on small business from the Canadian Federation of Independent Business, only 18 percent of current business owners would advise someone to start a business right now.
The top reasons for advising against entrepreneurship at this time were: difficulty in keeping up with the cost of doing business (90 percent), the current economic situation (76 percent), and the high tax burden (73 percent).
A Fifth of Canada’s Small Businesses Face Closure: Business Federation
“Small businesses are still facing hardships that are impacting their ability to operate and invest, which in turn impact Canada’s economy and productivity,” CFIB executive vice-president of advocacy Corinne Pohlman said in a Sept. 16 news release.
Pohlman said parliament needs to consider the needs of small businesses if it wants to improve the economy.
The survey found that 59 percent of business owners struggle with taxes and 51 percent said they grapple with operational costs.
About three-quarters of small businesses want to see government reduce the tax burden and 77 percent said the government needs to bring down the cost of doing business and rising prices.
Berta Dad nailed it. Copied from FB.
Jeff Rath’s behaviour toward Danielle Smith is not a good look for this movement, and he does not speak for me.
When this started, I had respect for him. But as this has played out, it has become harder to ignore what appears to be a push for power inside the movement, not a sincere focus on Alberta independence.
Danielle Smith is a major reason Albertans were even able to collect signatures in the first place. Compared to any other premier in this country, I believe she has been the strongest one standing up for her province.
I will not forget her accomplishments.
She stood up for parental rights when others wanted schools keeping parents in the dark.
She took action against political ideology being pushed in classrooms.
She made sure kids got back to school when the system tried to hold families hostage.
She has strengthened Alberta Sheriffs and continued exploring ways to free Alberta from relying on the RCMP.
And that is only part of it.
This ...
WEF/UN/Globalists have proven they can’t be trusted now given the key to Canada. Are you awake yet Canadians??
REPORT: UN Climate Scientists Flip on the Climate Doomsday Narrative | Stand on Guard CLIP
WATCH Have they been lying about climate change this whole time? Are they cancelling climate change doomsday scenario for the data centers?
The UN climate scientists admit the high emission doomsday scenarios were overblown. UN climate change scientists flip: climate change not too bad anymore according to a new report. No doomsday on the horizon.
On this Stand on Guard clip, we question why the UN might be backtracking on previous dire predictions, suggesting a new agenda at play. We examine how this shift could be tied to the proliferation of data center construction and the increasing demands on our power grid from artificial intelligence. It's crucial to consider the broader implications for our communities and hold big tech accountable.
Thank you to @jimmy_dore for pointing out this...
