Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Breadcrumb caret Industry Breadcrumb caret Industry News Breadcrumb caret Planning and Advice Breadcrumb caret Practice Fewer Canadians starting companies Canadians remain reluctant to start new businesses. About 43,000 Canadians started a new business in 2011 and hired staff, finds the Business Development Bank of Canada (BDC). Read: Canada’s top 50 young entrepreneurs This amounts to only 0.23% of the 19 million people in Canada who can work—a slight increase from the 2009 recession low […] By Staff | October 2, 2012 | Last updated on October 2, 2012 1 min read Canadians remain reluctant to start new businesses. About 43,000 Canadians started a new business in 2011 and hired staff, finds the Business Development Bank of Canada (BDC). Read: Canada’s top 50 young entrepreneurs This amounts to only 0.23% of the 19 million people in Canada who can work—a slight increase from the 2009 recession low of 0.22%. Last year’s rate was also well below the pre-recession high of 0.30%. Read: CRA prepares to cut the red tape “The slow economic recovery appears to have discouraged risk-taking on new business ventures,” says says Pierre Cléroux, BDC’s vice president, research and chief economist. He adds, “This is a concern because entrepreneurship is an indicator of economic dynamism, creates jobs and drives innovation.” Read: Private businesses predict 4% growth this year Additional findings include: Immigrants are highly entrepreneurial, with 0.35% starting new businesses that created jobs in 2011—nearly double the 0.20% rate of non-immigrants; Ontario, British Columbia and Quebec have seen modest recoveries in entrepreneurial activity, but the Prairies and the Atlantic provinces are still struggling; Those aged 45 to 54 have seen their index shoot up from 0.18% in 2008 to 0.27% last year, while those 55 years and up have gone from 0.09% in 2008 to 0.17% in 2011. If you do have clients who are starting businesses, here are some articles to help. 10 ways to build on your success Help entrepreneurs focus on clients first Help business owners find funding Female execs need opportunities, mentors Online tax tools for business owners 4 ways to help small biz clients Tips for budding entrepreneurs Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo