{"id":57923,"date":"2022-09-27T13:09:00","date_gmt":"2022-09-27T13:09:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/"},"modified":"2023-12-28T09:33:27","modified_gmt":"2023-12-28T14:33:27","slug":"rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/","title":{"rendered":"RBC Small Business Poll Finds Millennials and Gen Z Canadians are Leading a Micro-Entrepreneur Economy"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\">\n\t\t\t\t\t\t\t<span>Ideas and Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">RBC Small Business Poll Finds Millennials and Gen Z Canadians are Leading a Micro-Entrepreneur Economy<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Diane Amato<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2022-09-26T153322.160-3.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Girl filming makeup tutorial on tablet\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2022-09-26T153322.160-3.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2022-09-26T153322.160-3.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2022-09-26T153322.160-3.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=RBC Small Business Poll Finds Millennials and Gen Z Canadians are Leading a Micro-Entrepreneur Economy &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published September 27, 2022 \u2022 2 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>A recent <a href=\"https:\/\/www.rbc.com\/newsroom\/news\/article.html?article=125727\" target=\"_blank\" rel=\"noopener\">RBC Small Business survey<\/a> reveals that 74 per cent of Canadian small business owners and aspiring entrepreneurs are motivated to start a small business or side hustle as a result of the increased costs of living \u2014 a number that rises to 84 per cent among Generation Z participants.<\/p>\n\n\n\n<p>For the majority of respondents (77 per cent), creating a source of income to support themselves is reported as the primary reason for starting a business. Millennials are even more likely to cite this as a reason, with 86 per cent sharing this as their primary motivation behind entrepreneurship.<\/p>\n\n\n\n<p><i>\u201cThis year&#8217;s survey revealed that the desire for entrepreneurship in Canada remains strong, especially among younger generations, and it&#8217;s surprisingly being driven by the challenging current economic conditions,&#8221; <\/i>says Don Ludlow, Vice-President of Small Business, Partnerships &amp; Strategy, RBC. <i>\u201cMany Canadians see entrepreneurship as a golden opportunity to meet emerging consumer needs in a rapidly evolving marketplace, and take control of their financial future in these economically uncertain times.&#8221;<\/i><\/p>\n\n\n\n<p>Fortunately, the barriers to entry to entrepreneurship are lower than ever, as new technologies and digital solutions are making it easier for Canadians to start small businesses.<\/p>\n\n\n\n<p>The demand for such businesses also remains at an all-time high, as Canadians continue to crave authentic localized and customized goods and services that small businesses are uniquely poised to provide. In fact, the rising preference and willingness among Canadians to shop local have contributed to entrepreneurs&#8217; overall desire to become an entrepreneur, with 39 per cent of those surveyed stating that this shift has motivated and made it easier for them to start a business.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/08\/Sept_2022_RBC_Small_Business_Poll__282_29-13.png\" alt=\"RBC Small Business Poll Infographic\" class=\"wp-image-42824\" \/><\/figure>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-e80e0c15-2d3a-4e45-a335-9430037c0345\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-fdd4f107-b916-450c-bc4c-746256e14fec\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=RBC Small Business Poll Finds Millennials and Gen Z Canadians are Leading a Micro-Entrepreneur Economy &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/small-business\/rbc-small-business-poll-finds-millennials-and-gen-z-canadians-are-leading-a-micro-entrepreneur-economy\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-a5c07e14-b21f-4c74-b99f-215a1a0ce222\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/community\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Community<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Ideas and Insights<\/a>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/technology\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Technology<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"574\" 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href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/get-inspired\/business-success-stories\/akm-law-setting-a-new-precedent-for-building-a-values-driven-firm\/\" class=\"card-title h4 mar-t-0\">AKM Law: Setting a New Precedent for Building a Values-Driven Firm<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-e80e0c15-2d3a-4e45-a335-9430037c0345 {\n\t\theight: 20px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-e80e0c15-2d3a-4e45-a335-9430037c0345 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-fdd4f107-b916-450c-bc4c-746256e14fec {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-fdd4f107-b916-450c-bc4c-746256e14fec {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-a5c07e14-b21f-4c74-b99f-215a1a0ce222 {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-a5c07e14-b21f-4c74-b99f-215a1a0ce222 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>The latest RBC poll reveals that young Canadians are starting new businesses to create secure financial futures within a changing  economy.<\/p>\n","protected":false},"author":10,"featured_media":69583,"parent":57337,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[167,76,149],"rbc_content_type":[69],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[33],"rbc_mmm_category":[305,323,325,382,389,326,390],"class_list":["post-57923","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-community","tag-ideas-and-insights","tag-technology","rbc_content_type-infographic","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-beginner","rbc_mmm_category-business","rbc_mmm_category-business-stages","rbc_mmm_category-get-inspired","rbc_mmm_category-grow-your-business","rbc_mmm_category-innovation","rbc_mmm_category-right-sized-business-advice","rbc_mmm_category-small-business"],"acf":{"contently_publication_id":"335044","custom_author":"Diane 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