Canadian Entrepreneurs Accelerate Growth, Scaling Ambitions Reach New Heights

02 Apr, 2025

Entrepreneurs in Canada are demonstrating resilience by leveraging multiple income sources to fund and grow their businesses, according to a recent Ownr survey. The survey found that 86% of Canadian entrepreneurs finance their ventures through non-revenue sources, such as personal savings, funds from other businesses, and loans from financial institutions, government programs, and family or friends. Additionally, over half of respondents reported having two or three income streams, including full-time or part-time jobs and personal investments.

Despite economic uncertainties, small business owners remain committed to scaling their ventures. Jordan Casey, CEO of Ownr, emphasized that nearly three-quarters of entrepreneurs surveyed would start their businesses again if given the chance, highlighting their dedication and optimism. This persistence is fueled by diversified funding strategies that help them navigate financial challenges and sustain long-term growth.

Investments in customer acquisition and retention are key priorities for business owners. More than half of entrepreneurs stated that additional funding allowed them to pursue expansion plans, with a strong focus on standing out among discretionary spenders. Nearly half are prioritizing new product development, market expansion, and strengthening customer relationships, rather than increasing prices. Marketing and sales services proved particularly valuable in 2024, and looking ahead, 41% of entrepreneurs plan to increase investments in these areas, with 44% also focusing on upskilling in marketing and sales strategies.

For solopreneurs, the challenges of business ownership are even more pronounced. Nearly half of respondents identified as solopreneurs, managing all aspects of their businesses alone. With limited resources, many struggle to balance short-term operations with long-term planning, making it harder to adapt to shifting market trends. As Canadian entrepreneurs continue to scale, support systems and strategic investments remain crucial for sustainable growth.

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