Millennials Reshaping Canadian Small Business Landscape in Style Unique to Their Generation

It is estimated that by the year 2028, a whopping 75% of Canada’s workforce will be made up of millennials, according to Startup Canada—a generation driven less by financial success and more by flexible and fulfilling careers.

Millenials are also about twice as likely to start a business, according to Industry Canada. Consequently, Canada’s economy should be shaped by this looming sea change.

To capitalize on the forthcoming shift, The Canadian Youth Business Foundation has launched the “Owners Wanted” initiative, which aims to help potential owners get from idea to opening day.

This month, CYBF experts will be stationed at independent coffee houses in Toronto, Vancouver, Regina and Saskatoon to help take the stress out of exploring a business idea by providing mentorship and advice to help take things to the next level. Coffee shops have become a gathering place for this entrepreneurial generation—replacing the traditional boardroom. It’s where ideas are born and actualized.

“A large number of the businesses opened in Canada are by a younger demographic and this is only expected to grow as the millennial generation takes a dominant place in the workforce. This is a new generation of small business owners who want something that is more than just a job, they want to do something that is personal and matters to them, and they’re not afraid to take that leap,” says Julia Deans, CEO, CYBF.

“Lots of Canadians have business ideas, but may let their nerves and fears stop them from taking the first step, which is exactly why the Owners Wanted campaign was created,” she added.