Canadian entrepreneurs looking to hire this year: report

Looking for work? It may be easier to land a new job this year than last, according to the recently released EY Global Job Creation Survey 2016.

The survey found that nearly two-thirds (64 percent) of Canadian entrepreneurs said they’re expecting to hire this year, up from 50 percent a year ago.

Worldwide, 59 percent of entrepreneurs reported similar hiring goals.

The survey also found that entrepreneurs who are disruptive or innovative are growing their workforces at a faster rate than conventional entrepreneurs. These disruptors are defined as “those who change some or all of the rules of their sector with their product or service”. Innovators are defined as entrepreneurs who have created a brand new product or service within the last year. Of all Canada’s entrepreneurs surveyed, 14 percent are in the most disruptive category, below the global average of 17 percent. In total, 49 percent are disruptors to some degree and 16 percent are innovators (above the global average of 13 percent).

Entrepreneurship in Canada is not without its challenges. The survey revealed that entrepreneurs see generating new business as both their top priority and biggest challenge in the year ahead. Nearly 30 percent of Canadian respondents say their biggest challenge is identifying, attracting and serving new customers.

“Finding new customers is a key challenge for entrepreneurs in Canada – but it’s not the only one. We know that entrepreneurs have the best chance of success when they’re part of a healthy entrepreneurial ecosystem,” said a statement from Colleen McMorrow, EY partner and National Entrepreneur Of The Year program director. “We need to keep working together with governments, large businesses and entrepreneurs to create an environment where entrepreneurship can thrive.”

Read the full report online.