This article is sponsored by Intact Insurance
Quebeckers clearly have an entrepreneurial spirit. That’s what comes out of the 2017 Quebec Entrepreneurship Index, a survey conducted by the Fondation de l’entrepreneurship.[1] 21% of respondents said they planned to start a business. That number is even higher for young people, with 40.9% of Quebeckers aged 18 to 34 saying they wanted to give entrepreneurship a try.
And women are an important part of that growth. In 2017, 16.2% of women planned to start their own business. In 2009, that percentage was only 5.4%. This dramatic increase can be explained by the simple fact that they’re more independent than ever and have more education than men, and also by the value society places on their success, says Pierre Duhamel, Executive Director of the Fondation de l’entrepreneurship and the Réseau M business mentoring network.
It’s clear from these numbers that entrepreneurship is popular right now. For Duhamel, this interest is very positive and represents extraordinary potential for wealth and creativity for Quebec. Among Quebeckers wanting to start their own business, almost 10% are taking action on their dream; less than 10 years ago, that number was only around 3%. “More people with entrepreneurial aspirations means more people taking steps to achieve that goal. And the more businesses created, the more will be successful,” says Duhamel.
Young people undoubtedly want to take advantage of new opportunities. According to Le Code Québec[2], they’re more independent and creative and have more freedom; and most importantly, they’re very determined to achieve their goals. This drive is fueled by the many success stories they’ve seen. “The international success of Quebec start-ups is a source of pride for the up-and-coming generation.” It’s the same with women. Because young women have more models of female entrepreneurship, more and more of them are launching businesses. “Women are driving the growth rate in small business creation across the board, and that’s why they’re the future of entrepreneurship,” says Duhamel.
Whether the entrepreneur is younger or older, male or female, the fact remains that the majority of businesses that receive mentoring survive more than five years—double the rate of non-mentored businesses. Réseau M’s (reseaum.com) mission is to support businesses throughout Quebec with its mentorship program, and that’s one of the reasons Intact Insurance is proud to be their “Elite Partner.” It’s our way of helping current and future decision-makers succeed.
[1] Fondation de l’entrepreneurship - Réseau M, “2017 Quebec Entrepreneurial Index,” November 2017 <reseaum.com/indice2017>.
[2] Léger, Jean-Marc, Jacques Nantel and Pierre Duhamel (2016), Le Code Québec : Les sept différences qui font de nous un peuple unique au monde [The seven differences that make Quebeckers unique], Montreal, Éditions de l’Homme, 237 pages
