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Beyond the $ Value: Attitudes, behaviours, and aspirations of Ontario entrepreneurs

An analysis of Ontarian entrepreneurs drawing on the annual Global Entrepreneurship Monitor (GEM) study of entrepreneurship in Ontario
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Beyond the $ Value: Attitudes, behaviours, and aspirations of Ontario entrepreneurs
Annalise Huynh
Policy Analyst + Designer
Viet Vu
Economist
Matthew Lo
Policy Advisor

About this Report

Drawing on GEM’s 2016 data, this report continues a long-term analysis of the state of Ontarian entrepreneurs. It presents data that quantifies Ontario’s flourishing entrepreneurial ecosystem and compares Ontario to over 20 OECD countries that also participated in the GEM study.

Produced in partnership with BII+E, the Centre for Innovation Studies (THECIS) and Ryerson University, this report goes beyond conventional measures of entrepreneurial success to focus on entrepreneurs themselves. This focus on individual attitudes, behaviours, and aspirations adds a valuable dimension to understanding an essential driver of innovation and growth.

Read this report to help you:
  • Understand the experience of entrepreneurs, from why they start businesses to why their businesses succeed or fail, as well as to get a broad profile of the people drawn to entrepreneurship in Ontario today
  • Compare this year’s results with data from previous years to see where Ontario is headed and what has changed
  • Identify potential challenges to the growth of entrepreneurship in Ontario

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Key findings from the report:

Ontario was compared to OECD countries participating in GEM.

  • In 2016, Ontario was one of the highest performing economies in early-stage entrepreneurial activity, with growing numbers of people stepping into new tech sector businesses.
  • However, Ontario lags behind Canada as a whole, in terms of its early entrepreneurship participation rate, with higher participation in provinces such as Alberta, and a smaller increase from 2015 to 2016, compared to previous years.
  • Ontarians believe they have the knowledge, skills and conditions to be successful entrepreneurs and are increasingly comfortable with risk, compared to similar economies (such as Australia Germany, France).
  • 20 percent of Ontarian entrepreneurs were motivated to found their businesses by necessity rather than opportunity.
  • While Ontario has a relatively high proportion of women entrepreneurs (41 percent) compared to similar economies, women report a higher fear of failure and are less likely to have confidence in their knowledge to start a business.
  • Ontario has one of the highest rates of youth entrepreneurship, outperforming the rest of Canada. Youth entrepreneurship in Ontario doubled since 2014, from 8 percent to 16.6 percent in 2016.
Annalise Huynh
Policy Analyst + Designer
Viet Vu
Economist
Matthew Lo
Policy Advisor

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Dec 22, 2017

New Beyond the $ Value report provides a rare look into perceptions across the province on entrepreneurship, as well as a deeper definition of the actors that are part of this community
To be or not to be (An entrepreneur in Ontario), that is the question
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