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Taking the leap: Entrepreneurialism in Alberta

Taking the leap: Entrepreneurialism in Alberta

Posted on: 2/6/2019 | Author: ATB Financial's Economics + Research Team

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Sometimes entrepreneurs create their own job by offering their skills and knowledge as a solopreneur; sometimes they create a business that has a small staff and a handful of suppliers and investors; and sometimes they grow into major operations that appear on stock exchanges, employ thousands of people and generate billions of dollars of economic activity.

These contributions to the economy all start with entrepreneurs who are willing to risk failure to create something that wasn’t there before.

According to Statistics Canada’s Business Register, there were 557,101 businesses (including nonprofit organizations and charities) in Alberta as of June 2018. Of these, 69 per cent were businesses without any employees other than the owner.

Alberta has 13.4 per cent of all businesses in Canada compared to 11.6 per cent of the national population. This 1.8 point difference translates into 129 businesses for every 1,000 Albertans compared to 112 per 1,000 Canadians. For businesses with employees, it is 41 per 1,000 Albertans compared to 34 nationally.

Looking only at businesses with employees, three quarters (76 per cent) have fewer than ten paid staff, and just two per cent have 100 or more employees. Most Albertans (71 per cent) work for businesses with fewer than 100 employees and 34 per cent work for businesses with fewer than 20 employees.

It’s easy to see why entrepreneurs are often thought of as the ❤️ of Alberta’s economy. And that’s why we’ve dedicated the latest edition of Perch to them! So, take a read, and a listen to our new Perch podcast. You’ll hear stories and advice from people who have “been there done that” including Manjit Minhas of CBC's Dragon’s Den and Minhas Breweries & Distillery and one of Blackberry's founders, Ray DePaul.

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