SBBI - Small Business, Big Ideas
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Entrepreneurship is alive and well in Canada. This is according to a report by the CIBC's chief economist Benjamin Tal. Over 2.5 million Canadians have become small business owners. Lifestyle considerations are a chief reason for the growth in self-employment. Canadians have generated over 80,000 new jobs through self-employment in 2005 and have also created one quarter of the paid employment positions in the year ending March 2005.

When polled, most entrepreneurs love the decision they've made to become self-sustaining. Lifestyle, creativity, balance and not working for someone else are all contributing factors in self-employment and a big reason why the CIBC world markets economics and strategy is suggesting that despite challenges to being self-employed, more than 150,000 Canadians will choose self-employment within the next two years.

Small business has contributed to more than two-thirds of the private sector positions created in the economy, or approximately 80,000 jobs.

Women are leading the way in entrepreneurial growth and as far as our company and the radio show is concerned, women tend to value learning and coaching more than men. Not that our company has exact findings, but we find that more women have attended our "private" workshops and more women call in and respond to the radio show, than do men.

Canada now has over 800,000 women in business. It's growing at an annual rate of 3.3% since 1989 and it's 60% faster than the growth in the number of small businesses run by men during the same period.

Entrepreneurs are more educated than ever before...the number of small business owners with a university degree rose by 5.5% in the year ending 2005 while the number of small business owners with less than high school education fell to just about 2%.

Following ones' passion is the most important reason small business owners have set up shop. Doing something they love outweighs the money in most cases.

Speaking of money, the average self-employed person earns about $38,000. The average employee earnings are $43,000, in comparison. This does not take into account the tax savings.