Why So Many Canadians Want to Start a Business (w/Karen Svendsen)
Entrepreneurial ambition in Canada has reached an eight-year high. In this episode of The Unsure Entrepreneur Podcast, Roger Pierce speaks with Karen Svendsen, Senior Director of Small Business and Partnerships at Royal Bank of Canada, about what is driving that surge and what holds people back from getting started.
She helps lead RBC’s national small business strategy and played a central role in the 2025 RBC Small Business Poll. The results are very exciting — with 59% of Canadians saying they want to start a business, and a whopping 81% believing business ownership is a viable way to earn a living. Ontario leads the country, with 68% showing entrepreneurial ambition, followed by Atlantic Canada and the Prairies.
In the pod Karen talks about why independence, flexibility, and purpose now matter more than traditional career paths. "People want more control over their time and their long term prospects, and they want the ability to shape that future for themselves and for their family," says Karen.
She also speaks candidly about blockers such as uncertainty, access to funding, lack of confidence, and not knowing where to begin. RBC wants to make it easier to get going. ”We think that a big part of our role is making the early stages feel less overwhelming. So we help people understand the practical steps to take, from registering their business to working through their business plan to securing or identifying sources of financing."
Resources mentioned:
RBC tools, resources, learning, & partnerships to start or grow a business
RBC 2025 Small Business Poll results
She helps lead RBC’s national small business strategy and played a central role in the 2025 RBC Small Business Poll. The results are very exciting — with 59% of Canadians saying they want to start a business, and a whopping 81% believing business ownership is a viable way to earn a living. Ontario leads the country, with 68% showing entrepreneurial ambition, followed by Atlantic Canada and the Prairies.
In the pod Karen talks about why independence, flexibility, and purpose now matter more than traditional career paths. "People want more control over their time and their long term prospects, and they want the ability to shape that future for themselves and for their family," says Karen.
She also speaks candidly about blockers such as uncertainty, access to funding, lack of confidence, and not knowing where to begin. RBC wants to make it easier to get going. ”We think that a big part of our role is making the early stages feel less overwhelming. So we help people understand the practical steps to take, from registering their business to working through their business plan to securing or identifying sources of financing."
Resources mentioned:
RBC tools, resources, learning, & partnerships to start or grow a business
RBC 2025 Small Business Poll results
