Entrepreneurship And The Canadian Economy

Entrepreneurship is an activity of commencing a new business.

Something about the Economy of Canada

Here are some points which can give us a hint about the economy:-
1- The currency of Canada is Canadian Dollar
2- The fiscal year is from 1st April to 31st March
3- Some of the Trade Organizations of Canada are: North American Free Trade Agreement, Organization for Economic Co-operation and Development, World Trade Organization etc.
4- The GDP growth of the economy is 2.7%
5- The GDP per capita of the economy is $38,200
6- Some of the main industries of Canada are Transportation, Chemical, processed and unprocessed Minerals, food products, paper products, petroleum and fish products.

Canada is a very prosperous nation. It has got the largest economy which stands on 8th position in the world. The major part of the Canadian Economy contains Service Industry. A large part of Canadian Economy deals with International Trade because of its natural resources.

Some of the Free Trade Agreements of Canada
Canada U.S Free Trade Agreement - This agreement was signed on 12th Oct 1987
North American Free Trade Agreement - This agreement was signed on 1st Jan 1994
Canada European Free Trade Agreement - This agreement was signed on 26th Jan 2008

Some Facts about the Entrepreneurship in Canada

If we will go through the facts then we will get to know that the total activity of entrepreneurship in Canada is 8.8%. In Canada the western part and the Ontario deals the most in entrepreneurship.

Something about the Human Resources and Social Development Canada

Human Resources and Social Development Canada is a self employment program .This program helps the jobless people who have got the eligibility for starting a business.

The standard of eligibility in this program is that the person should be unemployed legitimately.

What is Entrepreneurs Forum?

Entrepreneurs Forum is a non profit organization. In this forum a group who has got a vast knowledge as well as experience about business gives advices which are really helpful to deal with most of the issues related to business. The unpaid assistants of this forum have a healthy business relation all over the Canada and provide their valuable help to the entrepreneurs. The entrepreneurs forum came into the picture in 1992. This forum is administered by the Board of Directors. The advisors of this Forum are truthful and open to the entrepreneurs. They can bluntly tell you your weak points but will help to deal with those issues in a positive way. Some of the members of

Entrepreneurs Forum are as follows:
David McNamara He is the President of InNOVA CORPORATION.
Dennis Campbell- He is the Vice-President of Ambassatours
Terry Norman He is the Treasurer as well as Director of Novas Consulting Group Limited.
Frank Anderson- He is the CEO of South West Shore Development Authority
Barry Braun He is the owner of Business Pathways
Heather Marriott The secretary of Market Intelligence Revenue Management Ltd.
Fae Shaw He is the Director of McInnis Cooper
Reagh Ellis He is the owner of Marks Work Wear house

What is ACE CANADA?
The full form of ACE is Advancing Canadian Entrepreneurship. This is a charity association which is educating and training the youth of Canada to make their career bright. At the beginning in 1986 this association was known as Canadian Association of University Student Entrepreneurs. This association has changed the lives of many entrepreneurs.

Role of Women in the Entrepreneurship of Canada

In 1996 more than 700,000 firms were being led by the women of Canada. With the growth of self employment in Canada the growth of women entrepreneur is also increasing rapidly in Canada. If we will go through the facts then we will find that between 1981 and 2001 the growth rate of women entrepreneurship was 208%.Most of the women entrepreneurs own the firms of Retail and Service. The Prime Minister of Canada recognized Task Force on women entrepreneur. The major role of the Task Force was to identify the issues which are faced by the women-owned firms. To recommend the federal government on the issues of women entrepreneurship.

As per the report of Task Force although women entrepreneurship is growing rapidly in Canada but still there is a need of research in all the areas of women entrepreneurship. More training programs and opportunities are required in women entrepreneurship. Revision of the service sector is required. Promotion of women entrepreneurs is still required.

The prime minister of was really impressed by the report of Task Force and taken a quick action in all these areas which resulted that the government will enlarge the Womens Enterprise Concept .It would be financed by Western Economic Diversification Canada. National Aboriginal Economic Development Board would help in all the issues face by the women in entrepreneurship. The federal government will give exposure to all the women entrepreneurs in Canadas trade promotion activities so that make their place nationally as well as internationally.

Some of the Top Women Entrepreneurs of Canada
1- Rebecca MacDonald: She is the owner of energy saving Income Fund.
2- Marilyn Sheftel: She is the owner of Silver hill Acura
3- Gabrielle Chevalier: She is the owner of Solutions 2 Go Inc.
4- Becky Mackinnon: She is the owner of Timothys Coffees of the World Inc.
5- Neena Kanwar: She is the owner of KMH Cardiology and Diagnostic Centre.
6- Nancy Adamo: She is the owner of Hockley Valley Resort
7- Sylvia Vogel: She is the owner of Canderm Pharma Inc.
8- Lee MacDonald: She is the owner of Southmedic Inc.
9- Margaret Hachey: She is the owner of Duocom Canada Inc.
10- Robin Todd: She is the owner of Marks Supply Inc.

Future of Entrepreneurship in Canada

Entrepreneurship is increasing day by day rapidly in Canada at present so will increase in future also. Yes definitely the competition would be very high as more and more individual are looking forward to start ones own business. Different types of enterprises are rising regularly which will really affect the field of entrepreneurship big time.
At the end we can conclude that Canada is looking forward to have a bright future in Entrepreneurship.