Over one million Ontarians want to be their own boss, according to annual RBC survey

    TORONTO, Sept. 28 /CNW/ - Almost 1.3 million Ontarians are making plans
to start up their own businesses and one-third (390,000) of these aspiring
entrepreneurs hope to become their own bosses within the next year, according
to the annual RBC Small Business Survey.
    "The numbers are significant proof that the idea of being your own boss
continues to have strong appeal to many Ontarians," said Kris Depencier, head,
RBC Small Business Client Strategy. "With the support tools and expertise
that's now readily available, it's that much easier to get started, and to
    The RBC/Ipsos Reid survey points out some interesting differences between
the backgrounds of existing and emerging Ontario entrepreneurs. While 25 per
cent of existing entrepreneurs cited an executive/managerial background, only
13 per cent of would-be entrepreneurs come from that same executive/managerial
background. On the other hand, while only 9 per cent of existing entrepreneurs
responded that they had previously held blue collar/labourer positions, 15 per
cent of aspiring entrepreneurs stated that they are presently working in blue
collar/labourer jobs.
    The top five preferred industries for Ontario's would-be entrepreneurs,
according to the survey: personal services/arts/crafts as well as
Internet/online services (both at 14 per cent); retail (12 per cent);
travel/hospitality/restaurants (9 per cent); business
services/communications/management consultant as well as construction/trades/
manufacturing (both at 8 per cent); and social services/education/other health
(6 per cent).

    Ontario's Aspiring Entrepreneurs: Fast Facts

    -   70 per cent are currently employed
    -   44 per cent have been either self-employed or owned a business before
    -   50 per cent expect to invest less than $25,000 to start up their
    -   43 per cent believe it will take between 1-3 years from start-up to
        begin earning revenue
    -   45 per cent believe it will take between 1-3 years from start-up
        until their business breaks even (e.g., makes enough money to cover
        the costs)
    -   Aspiring entrepreneurs are split 54 per cent male, 46 per cent female

    Canada's 2007 Entrepreneurs: By the Numbers

    Region          Existing Entrepreneurs        Aspiring Entrepreneurs

                         %        Total                %        Total

    BC                 18%       500,000             17%       560,000
    Alberta            11%       310,000             13%       430,000
    Sask./Man.          7%       200,000              6%       200,000
    Ontario            41%     1,150,000             39%     1,290,000
    Quebec             19%       530,000             19%       630,000
    Atlantic            4%       110,000              7%       230,000
    Canada           11.5%     2,800,000           13.0%     3,300,000

    These are some of the findings of an RBC poll conducted by Ipsos Reid
between July 27 and August 3, 2007. The online survey is based on a randomly
selected representative sample of 3,806 adult Canadians of which 2,253 owned
small or medium-sized businesses (entrepreneurs) and 1,553 aspire to own small
or medium size businesses (aspiring entrepreneurs). With a representative
sample of this size, the results among entrepreneurs are considered accurate
to within +/- 2.1 percentage points, and among aspiring entrepreneurs +/- 2.5,
19 times out of 20, of what they would have been had the entire adult Canadian
population been polled. Within the smaller populations of entrepreneurs and
aspiring entrepreneurs in the province of Ontario, the results are considered
accurate to within +/- 3.2 per cent for entrepreneurs and +/- 4.0 per cent for
aspiring entrepreneurs 19 times out of 20.

    RBC delivers a wide range of financial services and practical advice to
small and medium-sized businesses and their owners. RBC is Canada's leading
financial institution for small business, serving one in four small
businesses. For practical advice and information about starting, owning and
managing a small business, entrepreneurs - existing and aspiring - can visit

For further information:

For further information: Media contact: Alexis Mantell, (416) 974-4796

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