Report Finds 52% of Canadian Business Owners Don't Fit Traditional Entrepreneur Label
What happened
A report by Tangerine Bank and PwC Canada found that 52% of Canadian business owners surveyed do not identify with the traditional definition of an entrepreneur. Statistics Canada data cited in the report showed that non-employer businesses grew by 24% since 2020, compared to only 4% growth among employer businesses.
From intelligencer.ca
Why it matters
The findings suggest that Canadian entrepreneurship is evolving beyond traditional models, with many building businesses through independent work and digital platforms. The report also noted that only 50% of surveyed entrepreneurs felt their bank treated them as a business client rather than just an individual customer.
From intelligencer.ca
Who's involved
- Statistics CanadaProvided official metrics on non-employer business growth in Canada.
- TangerineCo-published the report detailing trends in Canadian entrepreneurship.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ScotiabankSpeculative
Scotiabank might face pressure on its business revenue as traditional banking models struggle to serve modern entrepreneurs.
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The entities involved
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Statistics Canada
Canada's principal government institution in charge of statistics and census data
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Tangerine
Canadian direct banking chain
Nothing else this week.
Related events
- Statistics Canada reported on Canada's economic growth, while CBC News covered current Canadian economic trends.
- Canada lost 65,000 residents to net emigration, raising concerns about the country's entrepreneurial future.
- Statistics Canada reported on Canada's productivity decline, accompanied by economic commentary from the Bank of Montreal.
- The Canadian economy is facing a recession, with GDP entering its third consecutive quarter of contraction, according to reports from involved institutions.