Why the Culture of Entrepreneurship is Ripe in Canada
Currently, in Canada, there is a very urgent need to invest in youth entrepreneurship. The youth unemployment is much higher than that of adults and half of the entrepreneurs who head small businesses are almost retiring which means that these places will be vacant within a very short time. Luckily, you do not need to have special skills to be able to launch a start-up. Since there are many young people who are not currently finding any jobs, entrepreneurship is one of the bravest choices that they can be able to make.
The country needs self-starters because getting a steady job is getting harder as the day go by. According to statistics, the economy of the country is also likely to grow at a rate of 2 percent annually without sparking inflation in the country. This was arrived at when imagining that the country will have steady jobs. More so the retirement of the baby boomers will leave the country without the much-needed people who can be able to run the country in the best way.
What should be done?
For this to be achieved, the country should help young people who are not getting any employment find meaningful ways of earning. More so, those who are out to start their businesses should be financed until they are able to find their footing. The culture of entrepreneurship should also be taught in schools, so that as many people as possible can realize the importance of business. This will not only foster confidence but will also encourage the young people to learn from their failures and make an economic impact into the country.
In many countries, entrepreneurs are always respected since the government knows that they are job creators and this is why you will find out that many governments are doing everything that they can to encourage entrepreneurship in the best way possible. The government is, therefore, making every effort to support entrepreneurship so that as many young people as possible go into business. Although some people will say that this is because there is a lot of need but this is not true since entrepreneurship is one sure thing that can actually lead to the economic growth of a country.
Entrepreneurs should also be showcased as role models. This is because people as young as 26 years have previously left jobs to start a successful business which is a very encouraging to the country. The country’s education system is also geared towards entrepreneurship. For instance, Alberta has some of the youngest entrepreneurs in the country. This means there is quite a lot of incentives to start a business in the country and succeed. Besides, the government levies a very small business tax to encourage as many young people as possible to venture into entrepreneurship. The only hitch is that most entrepreneurs in the country set less ambitious goals as compared to their US counterparts. This is what sometimes leads to failure.
Overall, the culture of entrepreneurship is already ripe in the country.