When it comes to Canada, there’s a lot to celebrate. A diverse, multicultural population. A steadfast, pioneering spirit. An appreciation for both independence and unity. A thriving economy and industries. This reverence is especially apt as we approach the monumental sesquicentennial – Canada’s 150th anniversary. The country will come together to celebrate its shared history, astounding progress and bright future.
Anyone can start their own venture and ignite endless possibilities. Just as Canada gained its independence, so can you as an entrepreneur or small business owner. Take control of your path, work through obstacles with determination, and experience the satisfaction of success.
Canadian entrepreneurs: By the numbers
All the stats cited in this article were pulled from the GoDaddy Global Entrepreneurship Report — Canada, a survey of Canadian entrepreneurs from August 2016. Here’s a high-level overview of the report’s findings:
- 45 percent of Canadian entrepreneurs said they would try again if their current business failed.
- 83 percent said they would do it all again given everything they know about starting a business.
- 74 percent said “grit and determination” are the key to success as a small business owner.
- 65 percent handle their own technology needs.
- 54 percent said the most attractive part of being a small business owner was the flexibility to work when they want, where they want and how they want.
- 64 percent said they would prefer to make somewhat less money for the sake of environmental sustainability.
- 84 percent think government should make access to capital easier to help promote small business growth.
- 76 percent see the dynamic changes in technology as an opportunity to start a business fast and reach customers.
Keep reading for more insight into these stats …
If at first you don’t succeed
The road to success is rarely an easy one to navigate – there will inevitably be bumps along the way. You may get lost and have to find a new way. You could end up back at the beginning and have to start fresh. You may stumble upon a fork in the road that requires you to make a tough decision. You may realize you were on the wrong path all along.
The ability to persevere despite difficulties is a prerequisite for entrepreneurship, and Canadians have this skill in spades. When asked what they would do if their current business endeavor failed, 45 percent of Canadian entrepreneurs said they would try again because failure isn’t a big deal.
If a small business owner gave up every time they faced a challenge, they would likely never see their goals to fruition.
The resilience and persistence of Canadian citizens give them the ideal foundation for entrepreneurial endeavors.
Despite the risks, challenges and inevitable ups and downs of running a small business, a vast majority of Canadian small business owners would do it anyway. Given everything they know about starting a business, 83 percent said they would do it all again.
While good ideas and natural talent go a long way, attitude and hard work matter more than anything. Seventy-four percent of Canadian entrepreneurs said “grit and determination” are the key to success as a small business owner.
Do it yourself
You may have a business partner or staff members, but as an entrepreneur – especially at the beginning of your journey – you’re pretty much on your own. That means being independent and self-reliant are of utmost importance.
One challenge of running a business today is the ever-evolving nature of technology and the importance of incorporating technological tools into your business. When it comes to managing their businesses online, 65 percent of Canadian entrepreneurs handle their own technology needs.
Fifty-four percent of Canadian entrepreneurs said that the most attractive part of being a small business owner was the flexibility to work when they want, where they want and how they want.
As we celebrate Canada’s 150th anniversary, the future looks bright
It’s easy to get caught up in the everyday demands of your own personal endeavor, but your business doesn’t exist in a vacuum. Part of being a modern, independent entrepreneur is looking beyond the scope of your individual business. As a country, Canada consistently demonstrates its commitment to the greater good, and these values carry through to the small business level, too.
When faced with the hypothetical choice of making more money in a business that doesn’t prioritize environmental sustainability or making somewhat less money in a business that does, 64 percent of Canadian entrepreneurs said they would prefer to make less for the sake of sustainability.
While self-reliance is paramount, unity and mutual support are also essential for the sustenance of small business.
Eighty-four percent of Canadian entrepreneurs think government should make access to capital easier to help promote small business growth.
As a business owner, it’s important to look to the future – not only to plan for your own growth and evolution, but also to use technological advancements to enhance your business. Seventy-six percent of Canadian entrepreneurs see the dynamic changes in technology as an opportunity to start a business fast and reach customers.
Harness your heritage
Canada is comprised of extraordinary individuals from all backgrounds and walks of life. While each citizen is important individually, it’s the beautiful mosaic that forms when we come together that truly makes our country united and strong. Happy 150th anniversary to everyone who calls Canada home! Perhaps you’ll celebrate by channeling that pioneering spirit into starting your own business?
Do you have a big idea for a small business? Are you an entrepreneur looking to expand your endeavor? GoDaddy Canada is here to help. From finding the right domain to building the perfect website to spreading the word about what you do, we have the tools you need to start or grow your business online.