Survey on chasing business dreams

More than half of all Canadians are entrepreneurs at heart and have thought of owning their own business…

More than half of Canadians (57 per cent) are entrepreneurs at heart and have thought of owning their own business, according to a recent RBC Small Business survey.

While one-third (36 per cent) of Canadians who have thought of owning a business have actually started one, 84 per cent of those who have not started a business say they would rather work for themselves than for someone else.

“Entrepreneurs play a key role in our economy by creating jobs, stimulating growth and encouraging innovation and creativity,”said Sarah Adams, vice-president, Small Business, RBC.

For those who have not started their own business, the following were cited as top barriers:

• No capital/start-up money, 44 per cent

• Need steady/reliable income, 38 per cent

• Fear of failure, 29 per cent

• Did not know how to start, 28 per cent.

The survey also found of those who started their own business, 40 per cent saved their own money; 35 per cent started small or with a side business to test the waters; 28 per cent got moral or financial support from family/friends; and 21 per cent contacted a financial institution/accountant/lawyer.