Entrepreneurship in Canada is on the rise. According to the latest RBC Small Business Poll, more Canadians are not only aspiring to own a business – up 13 percentage points in just two years – but are also taking the plunge, with ownership climbing to an all-time high.
The poll also highlights the fighting spirit of Canadian owners, underscoring the adaptability, resourcefulness and optimism that define Canada’s small business landscape. Entrepreneurs are navigating shifting economic conditions, changing customer expectations and new technologies with strength and optimism. What emerges is a portrait of owners who are willing to pivot, open to taking risks and committed to serving their communities.
“Small business owners have faced many hurdles in recent years – from the pandemic to supply chain disruptions and now shifting tariffs. What we’ve consistently seen is their resilience. They continue to pivot, adapt, and find new ways to serve Canadians in meaningful ways. It’s no surprise Canadians recognize small businesses as essential to both our economy and our communities.” Karen Svendsen, RBC Client and Business Strategy Small Business
The message is clear: Canadians are pursuing their business dreams, and today’s entrepreneurs are meeting challenges with resilience and resolve. It’s a story of growth, grit and creativity — a uniquely Canadian approach to building businesses.
From dreaming to doing: Aspirations are rising
Canadians are showing record interest in entrepreneurship, with aspirations climbing to their highest level in eight years. Younger generations lead the way, but momentum is strong across the board. As more people are thinking about business ownership and more are taking the leap, small business is increasingly seen as a viable and rewarding career path.
General Population: Canadian entrepreneurial aspirations are rising: 59% have thought about owning a business, up 13 points in 2 years.
Business ownership matches an all-time high: 21% of Canadians started or purchased a business, up 6 points YOY.
“Small businesses offer interesting employment opportunities”:
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General Population: 85% (79% in 2024)
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Owners: 87% (83% in 2024)
“Being a small business owner is a viable way to earn a living”:
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General Population: 81% (74% in 2024)
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Owners: 87% (83% in 2024)
Adaptability and resilience matter: Owners are pivoting in a shifting economy
Today’s entrepreneurs are reshaping their strategies to match a challenging environment. Proactivity and risk-taking are increasingly defining traits, as many business owners adapt their models in response to economic pressures, competition and new technologies. One thing is clear: Canada’s entrepreneurs are resilient, embracing challenges with a resounding “bring it on” mentality.
Proactivity and risk-taking are key traits in business success.
71% of business owners see the current environment as a catalyst for growth and innovation.
But it takes guts.
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95% say they need to be more proactive in current conditions
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90% believe a risk-taking personality is a must to start a business
Adaptability and resilience matter
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61% of business owners have evolved their strategy in the last 12 months
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21% – “I’m more focused on staying in business vs growth”
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14% – “I’ve focused more on customer or community impact”
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13% – “I’ve shifted toward more cautious, risk-aware strategies”
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13% – “I’ve become more aggressive and ambitious in growth planning”
Why?
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32% – Economic pressures or instability
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17% – Changing customer needs or behaviours
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10% – Industry competition
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10% – Technological innovations (AI, digital tools)
Built for the challenge: Optimism wins out
Even as tariffs, cash flow pressures and economic volatility weigh on owners, confidence remains strong. Most say they are adapting well, feel prepared for future disruptions and believe their businesses can pivot when needed – especially with a toolkit of solutions on hand for when challenges arise.
Optimism in the face of challenges
Common headwinds:
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21% – Economic uncertainty
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19% – Attracting customers
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19% – Cash flow
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12% – Access to capital
New challenges:
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66% – It’s hard to stay on top of market trends
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56% – Tariffs are keeping me up at night
Owner confidence:
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86% – My business is good at responding to changing customer needs
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86% – My business can pivot when needed
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76% – I am optimistic my business will thrive in the next 12 months
A small business owner’s toolkit to manage through uncertainty
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Access to capital
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Strategic planning tools
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Access to expert advice
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Networking and communities
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Market research and trends
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Digital or AI tools
Starting a business comes with all kinds of firsts. Here’s how to make them easier.
From registering your business to opening a business bank account to planning for growth, RBC is here to support you every step of the way.
