Rob King, Director of Small Business, Intuit Canada accepts the award for Entrepreneurship Support in Ontario from Startup Canada in Ottawa.
Fostering the growth of the Canadian entrepreneurial community is at the heart of what we do at Intuit Canada, and we’re thrilled to announce that we have been presented the Startup Canada Award for Entrepreneurship Support. It’s an honour to be recognized for our support in Ontario and to work with Startup Canada and other community organizations as they champion the entrepreneurship movement, which is so valuable to the fabric of the Canadian economy.
Canada’s entrepreneurial landscape accounts for roughly 98 per cent of our employer businesses, so it’s important that we continue to foster the growth of our startups. As it stands, small businesses are the primary creators of jobs and the engines of our economy, and there’s no reason why we can’t keep this momentum going with the resources we have at our fingertips.
Ontario’s startup potential in particular so great, and its strength is rooted in a significant ecosystem of support. Intuit truly believes that no entrepreneur should have to go it alone, so we’ve invested heavily in the platforms, products and professionals that provide entrepreneurs with the education, financial management tools and resources they need for long-term success. We work with small businesses, developers and accounting professionals to build an ecosystem of innovative products, like the QuickBooks platform, that make it easy for business owners to manage all aspects of their businesses from the very beginning.
At the core of all of our initiatives are two fundamental skills: financial literacy and business planning. Our partnership with Startup Canada, as well as other organizations like The DMZ, Ryerson’s business incubator, are deeply reflective of this. Every program we implement is inspired by the desire to set startups on the path to success, and the way to collectively support the advancement of this vital community is to arm entrepreneurs with the tools and advice they need to thrive.
While we’ve made significant strides in the past few years to increase small business owners’ financial literacy, there’s still a long way to go. Last fall, the QuickBooks small business team conducted a financial literacy quiz that revealed four in 10 Canadian small business owners lack basic financial management knowledge. What’s more, according to our recent Canadian Small Business Landscape Study, 62 per cent of entrepreneurs launched their businesses without a plan.
Developing a clear picture of your finances is vital in order to identify how you’re going to scale up your venture and where the greatest opportunities for growth lie. We need to come together as a country and strive to do better. We need to continue to ensure that our entrepreneurs are equipped with the tools and resources they need to understand their finances and grow their businesses.
We have to keep shining a light on important areas of focus through research, keep sharing our business solutions and putting them into action, and keep supporting our small business owners. If they continue to take full advantage of their robust network, we all prosper.
On behalf of Intuit, I’d like to thank Startup Canada for this award. We look forward to continuing our work together fuelling Canadian startup success.