Quebecers have the entrepreneurial spirit

Quebecers have a greater taste for business than in any other developed economy. 19.1% of them plan to go into business, higher than in the rest of Canada, in the United States or in any other of the G8 countries.

 

This was highlighted by a report from the Université du Québec à Trois-Rivières, based on an extensive survey by the Global Entrepreneurship Monitor conducted in 2014. We learn in it that Quebecers have no shortage of entrepreneurial spirit, compared to the citizens of other developed economies. Their intention to start a business in the next three years has even increased compared to 2013, since the rate has risen from 15.6% to 19.1% today.

The idea of going into business seems to be viewed much better and more highly valued than in the other Canadian provinces. Note also that 79.1% of Quebecers believe that entrepreneurship is a good career choice, compared to 50.5% in the rest of Canada. Quebec is in the lead of G8 countries on this point.

 

Intentions that do not always materialize

However, only 35% of Quebecers believe they have the skills required to go into business. In this area, there is a wide gap with the rest of Canada, where 53.4% think they have these skills. On this point, Quebecers are held back by a fear of failure. 38.9% feel this way, compared to 39.4% in the rest of Canada.

However, many new entrepreneurs in Quebec undertake this path by choice and not by default, at a rate of 87.6% compared to 82.2% in the rest of Canada. Another positive point – Quebec has a significant proportion of established entrepreneurs (those who have been active for over 42 months) with 8.5%, higher than in the other G8 countries, with the exception of the rest of Canada (9.6%). Regarding the number of emerging entrepreneurs, there is an increase compared to 2013, rising from 5.5% to 7.5% today.

In this relatively favourable environment, the two authors of the report, Marc Duhamel and Étienne Saint-Jean, believe that “maintaining this entrepreneurial momentum is fundamental to seeing sustainable organizations in the territory.” The next analysis, to be published next year, will let us know a little more.

 

 

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