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February 12, 2016

Entrepreneurial Spirit Strong in Canada

GEM Report Shows Healthy Increase in Self-Starters

A recently released study show 60 percent of Canadians feel entrepreneurship is a good career choice.

GEMGlobal Entrepreneurship Monitor has released its annual report for 2015 with figures showing the entrepreneurial spirit is not only strong in Canada, it’s thriving. And, interestingly, Canada leads among the G7 countries included in the study when it comes to informal investment.

“In this climate, the rate has grown to its present leadership overall position, with opportunity-driven entrepreneurial activity (those pursuing an opportunity) leading necessity-driven activity (those with no other option for work) by a ratio of 7:1,” the report highlights. “The rate among women has risen from half that of men to two-thirds and is a major factor in growth.”

It bodes well for those entrepreneurs as the report shows those who start their own business are held in ‘high status’ in their respective societies.

The ‘average’ Canadian entrepreneur is relatively young, outlines the report. The age distribution peaks in the 25 to 34-year-old generation. While many are male, participation by women is increasing. An undergraduate degree is the most common educational background and the most common sector is business oriented services.

“Understanding what inhibits and what enhances entrepreneurship in various contexts has never been more important, as many economies are struggling – especially those in developing countries, and unemployment is increasing,” said GEM executive director and report author Mike Herrington. “The Global Entrepreneurship Monitor allows us to gain additional perspective on entrepreneurial activity, and to look at best practices that are helping to promote small and medium enterprise development.”


W. Brice McVicar is a staff writer for SiteProNews.