Entrepreneurial aspirations in Canada have surged to their highest point in eight years, with 59 per cent of Canadians expressing interest in starting their own businesses, according to the latest RBC Small Business Poll.
The poll, conducted by Ipsos Canada, found that the number of aspiring entrepreneurs has increased by 13 percentage points over the past two years, returning to levels last seen in 2017. The survey also revealed that 81 per cent of Canadians believe small business ownership is a viable way to earn a living.
“Small business owners have faced many hurdles in recent years – from the pandemic to supply chain disruptions and now shifting tariffs,” said Karen Svendsen, Senior Director of Small Business and Partnerships at RBC. “What we’ve consistently seen is their resilience. They continue to pivot, adapt, and find new ways to serve Canadians in meaningful ways.”
Across the country, Ontario leads in entrepreneurial ambition, with 68 per cent of residents expressing interest in owning a small business. Other regions include Alberta and Saskatchewan/Manitoba at 60 per cent, the Atlantic provinces at 62 per cent, and Quebec at 45 per cent.
Canadian entrepreneurs are not only dreaming of starting businesses—they are also actively evolving. Sixty-one per cent of small business owners reported adjusting their strategies over the past year, while 51 per cent said they made significant changes to their business models to remain competitive.
Forty-six per cent of respondents said today’s business environment demands greater proactivity, and 43 per cent noted that risk-taking is essential to long-term success.
“For small business owners, resilience is not just about weathering the storm – it’s about using challenges as a springboard for reinvention and long-term growth,” said Svendsen. “That’s exactly what we help our clients do every day.”
Despite ongoing challenges—such as inflation and tariff-related concerns, cited by 56 per cent of owners—optimism remains strong. Seventy-five per cent said they are adapting well to market volatility, and 76 per cent described themselves as resilient.
Looking ahead, many small businesses plan to invest in digital upgrades, brand-building, innovation, and new market expansion, while maintaining a close focus on profitability and sustainable growth.
The RBC Small Business Poll was conducted online from July 4 to 8, 2025, with 2,001 Canadian adults. The results are accurate to within ±3 percentage points.
