The Hill Times: How to restart our economy? Boost an entrepreneurial mindset

06/15/2020
As we rebuild our economy, let’s invest in the necessary skills development to make sure that our entrepreneurs and small companies have the supports they need to establish and grow their businesses.

Ninety-eight per cent of Canadian businesses have fewer than 500 employees. These small- and medium-sized enterprises (SMEs) are critical to our economy. Furthermore, Canada has some of the highest rates of early-stage entrepreneurship in the OECD. With approximately 15 per cent of the Canadian working-age population having undertaken a business startup in the last three years or running a business that is less than three-and-a-half years old, this vital sector of our population deserves crucial energy and financial support to flourish.

Now, more than ever in light of COVID-19 and its aftermath, startups are increasingly essential to the economic health of Canada. As our economy experiences an unprecedented downturn, our small businesses and entrepreneurs face extraordinary challenges and uncertainty as to whether their businesses will survive.

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