This report provides a portrait of the state of entrepreneurship in Canada. The report charts entrepreneurial activity in Canada over time and in comparison with leading countries. It provides a profile of the owners of Canadian small and medium-sized enterprises (SMEs) because important entrepreneurial activity often takes place within these firms. Finally, the report identifies areas of strength, areas for improvement, and important areas that cannot currently be addressed because we do not yet have the relevant data to address them.
Entrepreneurship is a powerful force driving innovation, productivity, job creation and economic growth. Countries with a high level of entrepreneurial activity tend to be better off economically. Entrepreneurs have made fundamental impacts throughout the history of Canada, and today more and more
Canadians from all walks of life are becoming, or thinking of becoming, entrepreneurs. Canadian entrepreneurs are celebrated in their communities and in the media, and, in an age where people are cynical about many public figures, they are becoming our new role models.
At the same time, entrepreneurship is challenging. Young firms face uncertain markets, unproven technology, and uneven organizational processes. The fate of entrepreneurial firms is at least partially determined by characteristics of the business environment, such as access to finance, access to international agreements and consumer spending power, that individual entrepreneurs have little control over. As a result, the survival rate of young firms throughout the world is low, and the growth rate is even lower. Given the significance of entrepreneurship to Canada, it is important to understand how well Canadian entrepreneurs are meeting these challenges.
The overall conclusion of this report is that the state of entrepreneurship in Canada is stable and relatively strong. Entrepreneurial activity has been largely stable since 2001, and the rate of business start-ups has increased. Canada's entrepreneurial performance compares well with that of the other countries considered for this report: Denmark, Finland, Hungary, the Netherlands, New Zealand and the United States.
Signs of strength of entrepreneurship in Canada, based on data covering the period 2001–06, include the following:
The birth rate of new firms that have paid employees is consistently higher than the death rate, which means that the pool of businesses with entrepreneurial potential is being replenished regularly. The birth rate improved from 9 percent in 2001 to approximately 12 percent in 2006. Canada compares well in this regard with virtually every country examined here.
New firms in Canada have high survival rates at both the one-year and the five-year point. Again, Canada compares well with the other countries examined here.
The proportion of Canadian manufacturers that are rapidly growing rank among the best of the countries examined for this report.
There are also areas where entrepreneurship in Canada could be strengthened because of the following:
Canada generates a lower proportion of fast-growing businesses in the service sectors than do most of the comparison countries considered here.
The percentage of exports accounted for by Canadian SMEs is lower than that for European nations examined for this report.
Canadian SME owners are aging and over the next decade or so a large proportion need to consider planning succession and the transfer of business ownership.
With respect to Canadian SMEs and their owners, this report provides evidence that:
Between 2003 and 2008, there has been an increase in the percentage of working Canadians who are self-employed and own an incorporated business.
Canadian SME owners are becoming more diverse and more educated, and this trend is likely to increase the number and the innovativeness of new businesses.
The report identifies a number of important aspects of entrepreneurial activity in Canada that need to be studied further when data is available. These include:
Variety of entrepreneurs — Entrepreneurs exist everywhere and are diverse, including entrepreneurs in large corporations, immigrant entrepreneurs and serial entrepreneurs. Current data does not permit the study of the scope and diversity of entrepreneurship in Canadian businesses and communities.
Improving current indicators — The empirical knowledge of Canadian entrepreneurship is limited largely to firms with fewer than 250 employees. Further, the importance of firm age as an important variable is generally absent in analysis of entrepreneurial activity and performance.
IELTS. Manitoba Provincial Nominee Program (MPNP) of Manitoba Province also need low IELTS level, i.e. CLB (Canadian Language Benchmark) 4 score.
What to Expect When Applying for the PNP
Once nominated by a province or territory, the next step is to file a PR (Permanent Residence) application with Citizenship and Immigration Canada (CIC). The CIC will then evaluate your application and supporting documents based on Canadian immigration rules.
