During Small Business Week, the entrepreneurial spotlight highlighted many of Canada's startup businesses, as well as the recent successes found in the current economic climate.
Many Canadians are expected to join the ranks of independent business owners, and British Columbia is leading the way. According to the Province, about 3.7 percent of BC's working population is employed by a startup business.
The demographics of self-employed workers is changing as well. People over age 50 comprise the fastest-growing segment of new business owners, while success occurs across gender and educational lines.
E-Commerce on the Rise
One of the reasons many startups are finding an environment conducive to launching their business is the fact that e-commerce opportunities are growing. Businesses are choosing to begin their operations online, using the tech world as a launching pad for future growth while also saving personal funds that can get dragged into a startup.
"The barrier to entry in terms of technology has never been lower, and today anyone that knows how to use email can effectively start their own online business," Harley Finkelstein, chief platform officer at Shopify, told the Vancouver Sun. "Moreover, the financial risks typically associated with launching a traditional company - payroll, leaseholds, inventory and capital expenditures - are essentially non-existent in the current economy."
The ability for prospective business owners to use their skills to launch a small business or e-commerce site is extremely valuable in the current climate. If entrepreneurs can get their businesses off the ground as an online business, they can build up funds for future expansion and employees. Even for startups that begin with a physical location, managing a website can increase visibility and sales, ultimately leading to more success and a better chance of survival.
Young businesses are finding that the current environment in Canada is conducive to growth, but proper strategy is needed to build long-term success. Owners need to have a strong grasp on managing e-commerce companies and alternative marketing strategies, and taking courses at a Vancouver college can help to create a foundation of skills necessary for success.
Students who are interested in pursuing careers in this sector of business or founding their own startup can enroll in a range of business courses in program like Business Administration and E-Commerce Management and Payroll and Income Tax Practitioner at Vancouver Career College. To request more information, fill out the form on the right.