Canadian entrepreneurs view the country as a positive place for business startups – and are putting their money where their mouths are, according to an Ernst & Young report released this morning.
Entrepreneurs speak out: a call to action for G20 governments found that not only do 88% of Canadians believe Canada’s culture encourages entrepreneurship, but
that its new business registrations also outperform all mature market G20 countries
“Canada’s ideal environment and proactive frame of mind are setting the standard for entrepreneurial culture,” Colleen McMorrow, Ernst & Young’s entrepreneurial services leader in Canada, said in a press release.
“In fact, 88% of survey respondents agree these qualities are putting the country on the map as a startup paradise.”
According to Ernst & Young, Canada offers young entrepreneurs low business startup costs, funding from public aid, a well-regulated banking sector, a highly educated workforce and a variety of coaching programs that go a long way in promoting entrepreneurship.
“It’s imperative that countries around the world grappling with the effects of economic uncertainty follow suit and invest in their entrepreneurs,” McMorrow said.
The report found that the five key pillars to building a successful enterprise environment are entrepreneurship culture, education and training, access to funding, regulation and taxation, and co-ordinated support between public agencies.
A spokesperson from Ernst & Young was not available for comment by press deadline.
Jenny Wagler
@JennyWagler_BIV