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- Fifty-nine per cent of Canadians are aspiring entrepreneurs – the highest level since 2017
- Six in ten current business owners have pivoted their strategy in the past year
- Eight in ten Canadians believe small business ownership is a viable way to earn a living
Entrepreneurial ambition in Canada has hit an eight-year high, signaling a resurgence in the drive to start and grow businesses. According to the annual RBC Small Business Poll, Canadians with aspirations to own a business have reached a new peak of 59 per cent up 13 points in just two years, returning to levels not seen since 2017. The poll shows a nation of both aspiring entrepreneurs who are dreaming big and current small business owners who are reshaping their businesses to meet the moment. Eight in ten Canadians (81 per cent) believe small business ownership is a viable way to earn a living a clear signal that entrepreneurship is firmly embedded in the Canadian mindset.
"Small business owners have faced many hurdles in recent years – from the pandemic to supply chain disruptions and now shifting tariffs," said Karen Svendsen , RBC Senior Director Small Business and Partnerships. "What we've consistently seen is their resilience. They continue to pivot, adapt, and find new ways to serve Canadians in meaningful ways. It's no surprise Canadians recognize small businesses as essential to both our economy and our communities."
Entrepreneurial drive varies across the country
| Among aspiring entrepreneurs, Ontarians are leading the way with small business aspirations | ||||
| Alberta | Saskatchewan | Ontario | Quebec | Atlantic |
| 60 % | 60 % | 68 % | 45 % | 62 % |
Adaptive and agile: Entrepreneurs pivot to stay competitive
Canadian small business owners are showing that adaptability has become a defining trait of today's entrepreneurs. Six in ten (61 per cent) have adjusted their business strategy in the past year, and half (51 per cent) have gone further by making significant changes to their business model to remain competitive. Forty-six per cent say today's environment demands greater proactivity, while 43 per cent view risk-taking as essential to long-term success. Together, these findings underscore small business owners' determination to innovate and push for growth in an ever-evolving marketplace.
Optimism remains high despite economic challenges
Despite ongoing challenges – with more than half (56 per cent) of owners citing inflation and concerns over tariffs as a top worry – optimism remains high. Three-quarters (75 per cent) of business owners say they are adapting well to market volatility, and 76 per cent describe themselves as resilient in the face of change. Looking ahead, most remain positive about the year, with many planning to invest in digital upgrades, brand-building, new market expansion, and innovation, while also keeping a close eye on profitability and maintainable growth.
"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 Karen Svendsen , RBC Senior Director Small Business and Partnerships. "That's exactly what we help our clients do every day."
Supporting entrepreneurs beyond banking
It's about having the right tools, insights, and support at every stage, no matter the economic climate. RBC has been supporting Canadian entrepreneurs for years, helping them to start, grow, and adapt with solutions that go beyond banking. In collaboration with our trusted partners, RBC offers:
Ownr ® : For entrepreneurs in Ontario , Quebec , Alberta and British Columbia , this is a quick and affordable way to register and incorporate their business online, while automating important legal and compliance filings.
Moneris : Whether you're in-store, online, or both, Moneris has you covered with a full suite of unified payment solutions, 24/7 support, and on-site field services. As an RBC business client, you can get access to your money the next day, every day at no extra cost.
RBC Insight Edge™ for Small Business : A dashboard solution that offers subscribed retail businesses with real-time data insights around customer trends, competitive benchmarks and market intelligence to support business decisions.
Futurpreneur : For entrepreneurs aged 18-39 who want access to business resources, financing and mentoring. Futurpreneur Canada supports young entrepreneurs with a business mentor for up to two years and resources to help plan, launch, manage and grow their business.
The Founder's Journey Online Course : This free virtual course − offered by Western University's Morrissette Institute for Entrepreneurship, RBC Future Launch ® and The Globe and Mail‡ - guides participants through the journey of starting and growing a new venture.
Entrepreneurs can access these, and many other solutions and business advice online through at www.rbc.com/startingabusiness .
About the RBC Small Business Poll
The RBC Small Business Poll was conducted by Ipsos Canada from July 4 – 8, 2025. A total of 2001 surveys were self-completed online by Canadian adults (Age 18+), represented in six different regions ( British Columbia , Alberta , Saskatchewan / Manitoba , Ontario , Quebec and Atlantic Canada ). Representative sample results are weighted to reflect the Canadian population. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±3 percentage points had all Canadian adults been polled. The credibility interval will be wider among subsets of the population represented. All sample surveys and polls may be subject to other sources of error, including, but not limited to, coverage error, and measurement error.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada , the U.S. and 27 other countries. Learn more at rbc.com .
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet .
For more information, please contact:
Lauren Ng , RBC Corporate Communications
SOURCE RBC Royal Bank
