The evolution of Entrepreneurship Starting a business isn’t easy. It takes an incredible amount of work and perseverance, as well as the fortitude to go out on a limb. Starting a successful business is even more difficult, requiring the vision to identify a viable market
opportunity and, more often than not, a healthy amount of luck. According to the Government of Canada, on
average, 98 percent of new firms survive the first year, 63 percent survive the past five years, and just 43 percent see ten years.
61 - CanadianSME - January 2022
There’s a wide range of variables that
can contribute to the success or failure of new businesses. Many of the major forces, such as the health of the economy or the tax and policy
environment, tend to be fairly cyclical. However, there’s one significant
element that has improved at an
accelerating rate over the past few
decades and made it much easier to start a new business today: technology.
