Canadians are expected to become their own bosses at an accelerated pace in the coming decade, with more than half a million entrepreneurs in the process of establishing their own business this year, finds a new report from CIBC released Tuesday.British Columbia is the hub for startups with a nation-leading 3.9 per cent of the working population being part of a startup.“Alberta is second, largely due to the positive spinoffs from the energy sector and the business service sector,” said the report.
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Canada to see unprecedented boom in new businesses: CIBC
- Irreversible structural forces suggest that the next decade might see the strongest startup activity in the Canadian economy on record, said Benjamin Tal, deputy chief economist at CIBC.
- “The gradual shift to a strong culture of individualism and self-betterment; the role of technology in driving the transition from boardrooms to basements; the more global and inter-connected markets that require greater specialization, flexibility and speed; as well as small business friendly demographic trends are among those forces that are likely to support a net creation of 150,000 new businesses in Canada in the coming 10 years.”
- The report also found that: being self-employed is a choice with only 20 per cent of new owners doing so because they couldn’t find a job; the 50 and over age group is the fastest growing segment of new business owners accounting for nearly 30 per cent of startups; the self-employed are more educated – a third have a university degree; 70 per cent of new businesses are started by men but women tend to be more successful; educational services (up almost 65 per cent since 2007) and health care are (up almost 20 per cent) are growing fastest.
I doubt that so many people start their own business as a first choice. When you’re over 50 nobody hires you anymore.
Posted September 29, 2012 at 11:18am in employment self-employment underemployment startup individualism entrepreneurship business job jobs
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