According to the Canadian Youth Business Foundation (CYBF), Generation Y is much more focused on starting a business than preceding generations. To such an extent that it is completely redrawing the Canadian entrepreneurial landscape.
According to the findings of the Canadian Youth Business Foundation, Generation Y has twice as much desire to start a small business than other generations. The CYBF quotes the study conducted by publisher Intuit Canada during last year. In it, the supplier of financial management solutions reveals that 16% of Canadians from Generation Y would like to start their own business during the year compared to an average of 8% across the country.
Their own values
Starting your own business is especially a story of professional accomplishment. A large majority of people interviewed for the Intuit Canada study say they want to start a business with the idea of being their own boss (78%), while 16% would do it for the money and status, and 6% don’t know or give other reasons. The fact that Generation Y seems to be more entrepreneurial at heart than the others could significantly change the Canadian economic landscape. This is especially true given that by 2028, 75% of the country’s active population will be from this generation.
Available resources
According to the CYBF, active young people seem to be seeking more fulfilling and flexible work. This explains why many of them quite naturally decide to start their own business. To support them, the CYBF has set up a program to encourage these initiatives. It offers financial assistance, mentoring, advice and documentation.