According to the recently released EY global job creation and youth entrepreneurship survey, Canada’s entrepreneurs will play a significant role in creating employment opportunities throughout the nation during 2015.
The survey revealed that 50 percent of entrepreneurs had plans to increase hiring over the next few months. This is in stark contrast to the response of senior corporate executives, only 4 percent of whom indicated they would be adding positions to their organizations. This is largely due to higher rates of optimism in the entrepreneurial community. About 68 percent of business owners stated they felt confident the Canadian economy would improve, while 55 percent believed the same to be true about the global economy. The Advisor noted that these numbers are almost on par with entrepreneurs in the U.S., a nation which has been home to a far stronger financial situation than its northern counterpart.
The report also discovered a large number of burgeoning entrepreneurs in Canada’s youth population. Of those surveyed, 59 percent of 18- to 25-year-olds indicated they plan to run their own businesses at some point. These respondents indicated they would like to get training through internships and mentorships, though only 27 percent thought that Canada’s current entrepreneurial community was doing an effective job at assisting and inspiring the next generation of business owners.