Canada's ideal settings and proactive frame of mind foster next
generation of business leaders
TORONTO, Nov. 23, 2011 /CNW/ - Canadian entrepreneurs' new business
registrations outperform all mature market G20 countries, according to
Ernst & Young's latest report, Entrepreneurs speak out: a call to action for G20 governments.
"Canada's ideal environment and proactive frame of mind are setting the
standard for entrepreneurial culture. In fact, 88% of survey
respondents agree these qualities are putting the country on the map as
a startup paradise," says Colleen McMorrow, Ernst & Young's
Entrepreneurial Services Leader in Canada. "It's imperative that
countries around the world grappling with the effects of economic
uncertainty follow suit and invest in their entrepreneurs."
Canada offers young entrepreneurs low business startup costs, funding
from public aid, a well-regulated banking sector, a highly educated
workforce and a variety of coaching programs that go a long way in
"Mentoring programs are a huge part of long-term entrepreneurial
success," says McMorrow. "Eighty percent of our respondents agree that
tailored support is beneficial to young entrepreneurs in Canada, and
95% believe it's efficient — that's the highest percentage of any
mature-market G20 country."
Not only that, 88% of global respondents see success stories and
coaching programs for entrepreneurs as key priorities to improve
student perceptions of entrepreneurship as a career option over the
next three years.
Enhancing communication around entrepreneurial success stories,
promoting career opportunities offered by entrepreneurship and
highlighting the role of entrepreneurs in creating new jobs are
essential to developing a strong entrepreneurial culture.
The report also highlights five key pillars to build a successful
Education and training
Access to funding
Regulation and taxation
Coordinated support between public agencies
To read more about this report, follow this link.
About Ernst & Young LLP's Entrepreneurial Services practice
Ernst & Young LLP's Entrepreneurial Services practice serves Canada's
entrepreneurs by delivering integrated business advisory services in
assurance, tax, transactions and advisory services to help them drive
growth and create value. Our team of professionals has a track record
of focusing on the issues and needs of companies as they grow from
early stage to become market leaders. Ernst & Young has long worked
with and celebrated the achievements of Canadian men and women who
create the products, services and jobs that propel Canada's economy and
communities forward. For more information, please visit ey.com/ca/Entrepreneurs. A world leader in advising, guiding and recognizing entrepreneurs, you
can also learn about Ernst & Young's work with entrepreneurs by
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