The coronacrisis has taken a toll on many Canadian small businesses over the last year
According to RBC Small Business Poll, over half (55%) of Canadians polled said they have thought about owning a business. Moreover, among the business owners who were polled, nearly a quarter (24%) said they started their business during the pandemic.
Regionally, entrepreneurial aspirations were highest in Ontario (63%), Alberta (62%) and British Columbia (59%).
In fact, 7 in 10 aspiring entrepreneurs – those who have thought about owning a business but have yet to own one – perceive business ownership as an option that offers more control over their career than traditional employment. Perhaps it is this sense of control that has led 4 in 10 to say the pandemic has made them more likely to want to start a business.
Even as the challenges surrounding the COVID-19 pandemic continue, Canadians overall remain hopeful about the prospect of entrepreneurship, with more than half (58%) polled agreeing that COVID-19 has created new opportunities for small businesses.
This could be attributed to the fact that one-third of Canadians (33%) surveyed witnessed new businesses starting up during the pandemic, particularly among millennials (48%) and Gen Z (53%).
We’ve reported that Royal Bank of Canada introduced new initiative for Black entrepreneurs.