A guest column by Colleen McMorrow suggests that Canada is not doing as well as it once was in the entrepreneurial sector.
Though we have all the opportunities we need in this country to encourage small business growth, the start-ups are not turning into long term ventures.
Various reasons are given for this but what it boils down to is the general public is not, for the most part, supporting small local businesses as much as they say they are. While the slogans are to “shop local” and the politically correct are making sure their neighbours are aware of everything organic, when your back is turned, they are much more likely to be making the most of their purchasing dollars at Walmart or Dollerama!
Very few investors see Canada as a land with great prospects when it involves market growth. Most are looking at the emerging markets as the place to do business if they want to see enough profit to make sure their investments are worth their time and effort. The start-ups in Canada do not tend to be the type that will be around decades into the future and therefore hold no interest for those who could help them grow.
This leads to a trickle down effect in our economy. With less growth in the industry, there are fewer dollars to be spent by consumers and you can bet those consumers are watching every dollar they do spend.
Many of the new entrepreneurs are starting out with “cottage” type businesses, their products made at home and sold to another source. The best of these entrepreneurs has learned to offer their products and services online through a website. In both scenarios, these small businessmen and women rarely think big, their dreams not taking them outside of their own country. Is the new brand of entrepreneur too close minded in their approach to growth in their own industries? Or could it be that when we watch what’s going on in the rest of the world, we’re hesitant to think outside of our own borders?
Obviously, there are those who don’t think that way, for on the 60th anniversary of Queen Elizabeth’s accession to the throne, Calgary entrepreneur Brett Wilson received an award at Rideau Hall when he attended the Queen Elizabeth II Diamond Jubilee ceremony. Wilson was recognized for his “many contributions as an entrepreneur, community leader and mentor.”
As Wilson says, “When they celebrate the range of diversity that Canada has, I see that as a huge opportunity.”
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image courtesy of joguldi
