News Releases
According to Statistics Canada, 1.7 million Canadian men are self-employed in Canada - accounting for 65 per cent of total
- 82 percent of men would like to start their own business
- 83 per cent of Canadian men say having access to role models or mentors will be important to their success
- There are over 104,000 new small business start-ups each year in Canada
TORONTO, ONTARIO--(Marketwire - June 12, 2012) - A new study from BMO Bank of Montreal reveals that 82 per cent of Canadian men would become their own boss if they had the opportunity, and eight in ten men say that having access to role models or mentors would be a key to their success as business owners.
"Small businesses account for almost one-third of Canada's GDP annually, and are important sources of job creation and wealth," said Cathy Pin, Vice President, Commercial Banking, BMO Bank of Montreal. "Many of the newest small and medium-sized businesses are also among the most successful, productive, and fastest growing enterprises in Canada. These entrepreneurs, in many cases, are a catalyst for innovation, including critical sources for new business ideas and advancements in product development and service models."
Preferred Sectors
While overall the food and hospitality sector is the most popular choice for both men and women surveyed, the report conducted by Leger Marketing found that both the information technology sector and business and professional services are more commonly preferred by Canadian men compared to women.
| Total | Male | Female | Atlantic | QC | ON | MB/SK | AB | BC | ||||||||||
| Food & Hospitality | 14 | % | 12 | % | 17 | % | 15 | % | 18 | % | 14 | % | 11 | % | 14 | % | 13 | % |
| Arts/Entertainment/ Recreation | 12 | % | 11 | % | 13 | % | 11 | % | 12 | % | 12 | % | 8 | % | 17 | % | 14 | % |
| Retail/Services | 10 | % | 9 | % | 12 | % | 15 | % | 6 | % | 11 | % | 7 | % | 10 | % | 12 | % |
| Business/Professional | 9 | % | 12 | % | 7 | % | 7 | % | 6 | % | 11 | % | 14 | % | 10 | % | 9 | % |
| Health/Social Services | 8 | % | 6 | % | 11 | % | 8 | % | 11 | % | 8 | % | 8 | % | 6 | % | 6 | % |
| Information Technology | 7 | % | 13 | % | 3 | % | 5 | % | 8 | % | 8 | % | 6 | % | 6 | % | 10 | % |
| Skilled Trades/ Construction | 6 | % | 11 | % | 2 | % | 9 | % | 6 | % | 6 | % | 7 | % | 4 | % | 6 | % |
| Environmental Services | 4 | % | 4 | % | 3 | % | 5 | % | 4 | % | 4 | % | 2 | % | 4 | % | 5 | % |
"Fortunately, when striking out on your own business venture, you don't need to be alone," added Ms. Pin. "Regardless of where you live or the sector your new business will operate in there are a variety of resources available for entrepreneurs, including the BMO SmartSteps® for Business Community."
Survey was completed online from January 23-25, 2012, using Leger Marketing's online panel, LegerWeb, with a sample of 1523 Canadians. A probability sample of the same size would yield a margin of error of +/-2.51 per cent 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $525 billion as at April 30, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
416-867-3996
paul.cunliffe@bmo.com
Ron Monet, Montreal
(514) 887-1873
Ronald.Monet@bmo.com
Laurie Grant
604-665-7596
laurie.grant@bmo.com