Canadian entrepreneurship aspirations hit an eight-year high: RBC Poll

Entrepreneurial ambition in Canada has hit an eight-year high, signaling a resurgence in the drive to start and grow businesses. According to the annual RBC Small Business Poll, Canadians with aspirations to own a business have reached a new peak of 59 per cent – up 13 points in just two years, returning to levels not seen since 2017.

The poll shows a nation of both aspiring entrepreneurs who are dreaming big and current small business owners who are reshaping their businesses to meet the moment. Eight in 10 Canadians (81 per cent) believe small business ownership is a viable way to earn a living – a clear signal that entrepreneurship is firmly embedded in the Canadian mindset, said RBC.

“Small business owners have faced many hurdles in recent years – from the pandemic to supply chain disruptions and now shifting tariffs,” said Karen Svendsen, RBC Senior Director Small Business and Partnerships. “What we’ve consistently seen is their resilience. They continue to pivot, adapt, and find new ways to serve Canadians in meaningful ways. It’s no surprise Canadians recognize small businesses as essential to both our economy and our communities.”

Entrepreneurial drive varies across the country

Adaptive and agile: Entrepreneurs pivot to stay competitive

Canadian small business owners are showing that adaptability has become a defining trait of today’s entrepreneurs. Six in ten (61 per cent) have adjusted their business strategy in the past year, and half (51 per cent) have gone further by making significant changes to their business model to remain competitive. Forty-six per cent say today’s environment demands greater proactivity, while 43 per cent view risk-taking as essential to long-term success. Together, these findings underscore small business owners’ determination to innovate and push for growth in an ever-evolving marketplace, said RBC.

Optimism remains high despite economic challenges

“Despite ongoing challenges – with more than half (56 per cent) of owners citing inflation and concerns over tariffs as a top worry – optimism remains high. Three-quarters (75 per cent) of business owners say they are adapting well to market volatility, and 76 per cent describe themselves as resilient in the face of change. Looking ahead, most remain positive about the year, with many planning to invest in digital upgrades, brand-building, new market expansion, and innovation, while also keeping a close eye on profitability and maintainable growth,” noted RBC.

“For small business owners, resilience is not just about weathering the storm – it’s about using challenges as a springboard for reinvention and long-term growth,” said Svendsen. “That’s exactly what we help our clients do every day.”

Mario Toneguzzi

Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.

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