64% of Canadian Entrepreneurs Expect to Grow Workforce this Year

Sixty-four percent of Canadian entrepreneurs are expecting to hire in the next year, up from 50% a year ago, according to the 2016 EY Global Job Creation Survey.

Canadian entrepreneurs are leading the pack compared to their global peers and corporate counterparts, too.

According to EY’s survey, 59% of entrepreneurs globally expect to increase their workforce in the next 12 months. Meanwhile, 61% of Canadian corporate executives are expecting to hire this year, according to EY’s recent Capital Confidence Barometer.

EY’s survey also found that those entrepreneurs who are disruptive or innovative are growing their workforces at a much faster rate than more conventional entrepreneurs.

Disruptive entrepreneurs are defined as those who change some or all of the rules of their sector with their product or service; innovative entrepreneurs have created a brand-new product or service in the past year.

According to the survey, 14% of Canadian entrepreneurs fall into the most disruptive category, below the global average of 17%. In total, 49% are disruptors to some degree and 16% are innovators (above the global average of 13%).

The survey of nearly 2,700 entrepreneurs globally was released ahead of the EY World Entrepreneur Of The Year event on June 7 in Monaco.