Oct 01, 2012
By Dale Goldhawk
TOPIC – Canada to see unprecedented boom in new businesses in the coming decade: CIBC
INFO – TORONTO, Sept. 25, 2012 /CNW/ – Canadians are expected to become their own bosses at an accelerated pace in the coming decade, with more than half a million entrepreneurs in the process of establishing their own business this year, finds a new report from CIBC.
“Irreversible structural forces suggest that the next decade might see the strongest start-up activity in the Canadian economy on record,” says Benjamin Tal, deputy chief economist at CIBC. “The gradual shift to a strong culture of individualism and self-betterment; the role of technology in driving the transition from boardrooms to basements; the more global and inter-connected markets that require greater specialization, flexibility and speed; as well as small business friendly demographic trends are among those forces that are likely to support a net creation of 150,000 new businesses in Canada in the coming ten years.”
The report finds a number of interesting trends among today’s new business owners.