More than half (53%) of all new startups in Canada are run by part-time entrepreneurs.
Pause for a moment to think about what this means.
It means that the average startup – defined as a business in operation for three years or less – is not what it is commonly assumed to be.
The part-time entrepreneur understands technology – in fact, nearly a third (32%) are a tech startup.
But their day-to-day reality is far from the vision of startups closing venture capital funding rounds and securing billion dollar valuations before they turn a profit.
The true portrait of a Canadian startup is the woman down the street who is working through nights and weekends in pursuit of her great new idea, while spending her days working for someone else.
She doesn’t have access to the suite of services available to our common definition of a ‘startup’.
She’s struggling to get up to speed on all the essential components of running a business, like financial management.
At Intuit, we are committed to helping her and the legion of part-time entrepreneurs pursuing their dreams.
We want to help more part-time startups go full-time.