A new survey points to a growing wave of ambition among Canadians
Entrepreneurial ambition in Canada has surged to its highest level since 2017, according to the latest RBC Small Business Poll. The survey found that 59% of Canadians aspire to own a business, an increase of 13 percentage points in just two years.
The findings highlight a growing recognition of small business ownership as a path to financial independence, with 81% of respondents viewing it as a viable way to earn a living.
Shifting ambitions across regions
Ontario led the country in entrepreneurial aspirations, with 68% of respondents expressing interest in owning a business. Atlantic Canada followed at 62%, while Alberta and Saskatchewan/Manitoba tied at 60%. Quebec reported the lowest rate at 45%.
“Small business owners have faced many hurdles in recent years – from the pandemic to supply chain disruptions and now shifting tariffs,” said Karen Svendsen, RBC senior director of small business and partnerships. “What we’ve consistently seen is their resilience. They continue to pivot, adapt, and find new ways to serve Canadians in meaningful ways.”
Entrepreneurs adapt to a changing landscape
The poll revealed that 61% of current small business owners adjusted their strategies in the past year, while 51% made significant changes to their business models. Nearly half (46%) said today’s climate demands greater proactivity, and 43% emphasized the need for risk-taking to secure long-term growth.
Despite inflation and tariff concerns – cited by 56% of owners as top challenges – resilience remains a defining feature of Canadian entrepreneurs. Three-quarters (75%) said they are adapting well to market volatility, and 76% described themselves as resilient in the face of change.
“For small business owners, resilience is not just about weathering the storm – it’s about using challenges as a springboard for reinvention and long-term growth,” Svendsen said.
Tools and support for entrepreneurs
RBC highlighted several initiatives designed to help entrepreneurs at different stages of their journey. These include Ownr®, a platform to simplify business registration; Moneris, which provides unified payment solutions; RBC Insight Edge™, offering real-time customer and market insights; and Futurpreneur Canada, which supports young entrepreneurs through financing and mentoring.
The poll, conducted by Ipsos Canada from July 4 to 8, surveyed 2,001 Canadian adults online. Results are accurate within ±3 percentage points, 19 times out of 20.
