The current labour shortage is hindering businesses, forcing 44% of Canadian entrepreneurs to turn down contracts. A lesser-known consequence: the labour shortage is also stopping entrepreneurs from going into business in the first place. In Quebec, 33% of aspiring entrepreneurs are finding it challenging to launch their projects.
In this context, Quebecers are hesitant to launch their business ventures. Between 2019 and 2021, business intent rates dropped 5 points. However, while there are fewer new entrepreneurs on the market, those who do take the plunge are more diverse than ever before. A reality that can not be ignored if a business hopes to better support today’s entrepreneurs in the challenges they face.
A wave of diversity is taking over Quebec entrepreneurship
*than the Quebec population as a whole / Source: Indice entrepreneurial québécois 2021 du Réseau Mentorat, presented by the ministère de l’Économie et de l’Innovation du Québec, as well as the following major partners: the National Bank, CDPQ, and l’Ordre des CPA du Québec. The index is established in partnership with the Institute for Entrepreneurship National Bank | HEC Montréal and Leger