Entrepreneurship is Sexy

When I was growing up, the only people that were entrepreneurs were those who had to work for themselves due to poor job prospects.  In post-secondary it was further engrained that you go to school to work for someone else, why go to school to be your own boss?  Furthermore, when I first started at the Innovation Centre 3 years ago I often felt as though we were going against the grain (literally) of the economy when looking at local newspaper headlines that were barraged with Forestry and now Mining headlines among anything the Government does.  It seemed as though people in the broader community didn’t know about the Innovation Centre, what we do, or even the entrepreneurial community we work with.

Lately however, there seems to be a real focus on entrepreneurial activity and how start-ups grow the local economy.  I feel as though we are not going against the grain as much as local leaders and the community at large are embracing entrepreneurs.  Perhaps it is a result of the shifting culture in our economy and those that are yet to join the workforce.  To date, 40% of Canadians are working for their employer on a contract basis.  These 40% of people are technically living riskier careers where their only as good as their last stint.  Sound familiar?  Probably because this is similar to entrepreneurship.  Becoming an entrepreneur is a risky proposition to say the least, but with entrepreneurship at least you are being rewarded for your efforts.

With respect to the future generation of the workforce, a recent BMO poll indicates post-secondary students are expecting bleak job prospects unless Canadian companies become more innovative.  This Results in 46% of students anticipating on starting their own job by starting a business.[i]  What does this mean?  We are going to have highly educated people solving problems and creating value and excess demand on the Innovation Centre’s resources.  Even what we see out of reports, Canada is struggling with innovation in large firms according to OECD reports.  Mostly because those who are somewhat entrepreneurial in large organizations are oppressed into their everyday roles as employee number 208409.  Recently there is a renewed focus with finding internal entrepreneurial champions even within larger organizations to push change.  For example, Canadian Tire recently launched a digital hub in Kitchener/Waterloo tech hub away from its corporate office in Downtown Toronto to adopt new mobile technologies so they can “think” like a startup.[ii]  Locally, Lakehead University – which does not have an entrepreneur program, recently launched its Economic Development Council in an attempt to emulate Kitchener/Waterloo’s startup community.[iii] 

Outside of Canada some of the World’s top business schools are booming with enrollment for entrepreneur management programs as it has never been easier to start your own business as it is right now.  With all the online tools, cloud hosting, mobile, heck even the Internet it is becoming easier to set up shop.  Maybe now is the right time to think about opening your business as becoming an entrepreneurship is the new black.  You don’t have to start a company because you have to, but because you want to!