More Canadians Want to Start a Small Business, reveals RBC poll
- Roger Pierce
- Jan 26
- 3 min read
It's music to my ears. More people want to become entrepreneurs.
According to a recent RBC Small Business Poll, 59% of Canadians say they want to start a business. That number has not been this high since 2017.
On The Unsure Entrepreneur Podcast, I talk with Karen Svendsen, Senior Director of Small Business and Partnerships at RBC, to unpack what's behind that shift and what it means if you are sitting on the fence.
Karen has spent years working with entrepreneurs across Canada. She also helped lead RBC’s 2025 Small Business Poll, which tracks attitudes, barriers, and behaviour around business ownership.
One stat stood out early. “Eighty-one percent of those surveyed believe business ownership is a viable way to earn a living,” Karen says. “That tells us Canadians see entrepreneurship as realistic and attainable.” That belief matters because people do not act on ideas they see as fantasy.
Why interest is rising
The reasons are practical. People want control over time. They want flexibility. They want work that fits life, not the other way around.
Karen explains it clearly.
“People want more control over their time and their long-term prospects,” she says in our interview. “They want the ability to shape the future for themselves and their family.”
There is also a push factor. Traditional employment feels less certain. AI and automation sit in the background of many career decisions. At the same time, barriers to starting a business have dropped. Digital tools make it easier to test ideas, reach customers, and earn revenue without large upfront cost.
You see this in how people start. Thirty-one percent of Canadians now make money from a passion project or hobby. Twenty-eight percent explore income outside their main job. Nineteen percent take on side work alongside full-time employment.
This is not an all-or-nothing move — it's gradual. “You don’t have to start a full-time business,” Karen comments. “You can start part-time. Dip your toes in.”
Where ambition is strongest in Canada
Ontario shows the highest entrepreneurial ambition at 68%. Atlantic Canada and the Prairies follow close behind. Younger Canadians lead the charge. Seventy-six percent of Gen Z and 70% of millennials have thought about owning a business.
Karen shares why that may be. “They are more open to non-traditional career paths,” she says. “They are digital natives. They see entrepreneurship as realistic.” That does not mean older founders disappear. It means more people see business ownership as a viable option, not a leap off a cliff.
But wanting a business and starting one are not the same thing. Karen hears the same concerns again and again. “People feel overwhelmed,” she says. “They don’t know where to begin. They don’t know how to turn an idea into a plan.”
Funding questions come next. How much money is needed. Where it comes from. Who to talk to. Many also lack a support circle. They do not have mentors. They do not have family members who run businesses.
Confidence plays a big role, too, as many entrepreneurs are, well, unsure. “People ask themselves, do I have what it takes,” Karen says.
Finding out if you have what it takes is one of the benefits of reading my new book, called The Unsure Entrepreneur. It's now available in print or digital format here.
Support that goes beyond banking
A strong theme in the episode is support from the bank. Not just loans. Not just accounts.
Karen describes RBC’s role as reducing uncertainty. Helping people move from idea to action. That includes business planning tools, registration support, market insights, and education.
A business plan came up often. “It helps test the idea,” she offers. “It shows you understand cash coming in and going out.”
You'll find many very helpful resources available through RBC’s small business advice hub. My favourite tools found there are:
Starting Your Business Guide free download
The Founder's Journey free startup course
What this all means for you
If you feel the pull toward business ownership, this episode offers clarity. You do not need a perfect plan. You do need to start asking questions. You need to write things down. You need to involve other people.
Karen puts it best. “Get the idea out of your head and onto paper,” she encourages. “Talk to someone. There are people who want to help you get moving.”
You can read more results here from the 2025 RBC Small Business Poll.
Listen to this episode of The Unsure Entrepreneur Podcast.
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