Gen Z Entrepreneurs Fuel Canada's Small Business Boom

Gen Z Canadians are embracing entrepreneurship more than older generations, according to Royal Bank of Canada's Small Business Poll. Nearly half of Gen Zers operate a side hustle alongside their primary job, while another 32 per cent aspire to start their own business as a second job.

The poll found that the most interested generation in owning their own business is Gen Z, partly because the definition of success is changing. Only 42 per cent of Gen Zers say financial stability is the definition of success, compared to 31 per cent who prioritize pursuing their passion and turning it into income.

Technology has made it easier for young Canadians to turn an idea into a business, but access to digital tools is only one part of building something sustainable. Many young entrepreneurs are motivated by financial uncertainty, with 81 per cent saying that this has driven them to explore entrepreneurship opportunities.