30) Small software outsourcing business grow fast

According to a CIBC report last week, in the near four years more than 120,000 small businesses will appear in Canada. LET Me Up, was the name of this report.

A Look at New Entrepreneurs in Canada pointed out that aging populations worsen with progress in technology and that the Internet has driven the development of small business.

Rob Paterson, senior vice-president of CIBC small business banking, said "Beginning an enterprise is becoming more and more popular, especially to those Canadians towards 50~60 years of age who are financially able and well educated.”. In 1991 12 percent of entrepreneurs were in their fifties, whereas today, new entrepreneurs who are 55 prove to be 14 percent of total startups.

Mr. Paterson also pointed out, “The aging Canadian population is expected to lead to strong startup growth, especially in three startups being guided by an industrialist who is towards 45“. Compared with only 12.5% in Canada in 1990, in the past two years 25% of people built a small business who at least had a university degree

Over the past three years, followed by the financial and sales and services industries, the startup sector was lead by science and health-concerned businesses. In the past two years, the growth in British Columbia made the national average nearly double.