Most Canadian Entrepreneurs Have 'Real' Jobs Because Their Startups Don't Generate Revenue

Posted by Techvibes NewsDesk

More than half of all new startups in Canada are run by part-time entrepreneurs, according to new data.

A new Intuit study found 53% of startup founders are entrepreneurial only part-time and, while passionate about their business, aren't looking to become millionaires. However, if they could quit their jobs to focus on their startups full-time, 35% would—even if they made as little as $30,000 per year.

According to Intuit, 59% of startups launch with no outside funding, bootstrapping solely with personal savings. And 32% of them are tech based, much higher than the 20% share of mature companies that are tech-based.

Furthermore, it's a good thing there are a growing number of affordable accounting solutions, because currently just 13% of Canadian small businesses actively work with an accountant (more than half cite cost as the main barrier)/

 

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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