Despite challenges, Albertans love owning businesses

Despite the daily hardships and challenges faced by Alberta’s small and medium-sized business owners, 89% say if they were given the opportunity to do it all over again, they would still choose to own their own business, finds ATB Financial’s Business Beat Survey.

Read: Tax changes affect income splitting for incorporated clients

Further, 80% of those surveyed transitioned from being an employee, meaning they got to see both sides of the coin and would still choose the path less traveled.

Here are some additional findings.

• Albertan entrepreneurs own an average of 2.4 businesses; men seem to have a slightly larger risk appetite as they have owned an average of 2.7 businesses, whereas women have owned an average of 1.8;
• 26% of male entrepreneurs started a business between 18-24 years of age, versus 9% of women;
• 27% of owners say not giving up is the most valuable lesson they’ve learned while owning a business; other lessons include having good people and customer service skills (12%) and building a good team (10%);
• 97% of Alberta entrepreneurs are passionate about their business and 95% believe it takes courage to own one.

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