More Canadians than ever become their own boss
More Canadians are saying goodbye to tradition work and starting their own business.
Tamara Bowman is a Saskatchewan entrepreneur who took the leap when she started Metric Design Centre in Saskatoon a year ago.
It may be a scary decision, but more than half a million Canadians in the last two years are doing the same thing, according to a CIBC report.
“Definitely, it’s a little intimidating to take on so much risk and financial restraint,” said Bowman, who is credited with opening Saskatoon’s first and only interior design centre.
Saskatchewan is third in the country for percentage of the working population creating new startups, at 2.9 per cent. The province follows British Columbia at 3.7 per cent and Alberta which sits at 3.1 per cent.
The report says 80 per cent of Canadians are making the transition because they want to, not because they can’t find a job.
The interior design industry is a tough one to crack unless you do it on your own, said Bowman. The purpose of the store was to build a team of other designers.
“I knew there were other graduates that were in my position. That’s why a really wanted to offer a business like this where the designers could come and develop their own clients,” she said.
Bowman says Saskatchewan has a great business mentality and she’s excited to be part of the boom.
“I think that it’s really amazing and it’s really great to be a part of that because there are so many people that are interested in being entrepreneurs,” she said.
Men make up 70 per cent of the new businesses, but female-led start-ups tend to stay in business longer on average.
Economist Benjamin Tal, who authored the paper released Tuesday, said several factors appear to be driving the trend, including technology making the process easier.
Marketing budgets for new businesses are often high, Bowman said.
“But I found that social media is an amazing way to be able to kind of grow exposure within your business without spending a huge amount.”
With files from the Canadian Press
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