Dominik Loncar, Futurpreneur Canada Entrepreneur-in-Residence, email@example.com
Back in 2011, Moya K. Mason, a freelance researcher, came up with a figure on new business launches across the globe. She based this on the Global Entrepreneurship Monitor (GEM) Report, 2011 and feedback she received from Dr. Paul D. Reynolds, Director, Research Institute, Global Entrepreneurship Center. By her estimation there are approximately 100 million new businesses that open their doors each year worldwide. Whatever the true number is, it’s a force to be reckoned with!
Over the years, in working with start-ups, I have noticed three trends:
1. Cost of entry for a start-up is becoming less and less prohibitive – from inexpensive e-commerce sites, to virtual office sharing spaces, to low cost marketing like social media. Even things such as apps and software are becoming more affordable to get to the beta test stage. Of course there are capital intensive businesses that require a good chunk of change (i.e. restaurants, high tech etc.). However, in my experience, start-ups need a lot less then they think to start, but a lot more to keep them going.
2. The world is becoming one single market with greater opportunities to export and sell abroad. It’s not just the infrastructure that is making it easier but consumers are becoming less tied to their culture and more tied to their “tribe of common values” – and that can be anywhere in the world.
3. Global consciousness is rising as more people want to make a difference while making a living. Whether they want to incorporate more environmentally friendly options in their business, start a social purpose business, or create a game changing not-for-profit organization, entrepreneurship and the entrepreneurial spirit becomes more appealing.
Here at home, the Canadian GEM report of 2013 found that 17% of the Canadian population had an intention to start a business in the next three years – the highest rate of any G7 country, including the United Stated. Clearly, Canadians have an affinity for entrepreneurship.
One area that the report said needed more work was better training in entrepreneurship at the secondary and post-secondary school level. Organizations outside the school system can offer education and services to plug that gap.
The paradox in working for oneself is that a lot more can happen when you actually stay connected and collaborate with peers, industry leaders and organizations. Global Entrepreneurship Week, Nov. 17 – 23, offers a platform where we can all share, celebrate and strengthen an ecosystem that keeps growing.