BMO Poll: One-Third of Women Interested in Becoming Business Owners Within the Next Decade

BMO Poll: One-Third of Women Interested in Becoming Business Owners Within the 
Next Decade 
- Access to capital largest concern among potential women
entrepreneurs, despite drop from last year  
- Food and hospitality sector remain most popular among women looking
to start their own business, followed by the arts and entertainment
sector  
- To support International Women's Day on March 8th, BMO will donate
$2 dollars to the Canadian Women's Foundation for each tweet and
retweet of the #BMOIWD hashtag, up to a maximum of $10,000 
TORONTO, ONTARIO -- (Marketwire) -- 03/07/13 -- In recognition of
International Women's Day, BMO Bank of Montreal conducted a survey
that revealed one-third (36 per cent) of women are interested in
starting their own business within the next 10 years. 
Furthermore, the majority (57 per cent) of Canadian women who would
consider starting their own business say one of the primary reasons
for doing so would be the opportunity to do something they love.  
"Finding something you are passionate about and love doing every day
is important when considering whether you should start your own
business. It's almost as important as translating ideas into practice
and finding customers," said Joanne Gassman, Senior Vice President,
BMO Bank of Montr
eal. "Owning and operating your own business can be
time consuming. Yet, being your own boss can give you greater
flexibility in your life and also provide an opportunity to build
something truly unique. 
"Fortunately, when starting out on your own business venture, you
don't need to be alone. There are a variety of resources available
including online blogs, websites, and organizations such as the Women
Presidents' Organization where you can share information with other
women business owners, seek out mentors and take inspiration from
role models," Ms. Gassman added.  
Other key findings from the survey include: 


 
--  One-in-five (19 per cent) women under 35 are very likely to start their
    own business in the next five years 
--  42 per cent of potential women entrepreneurs believe access to capital
    would be the largest challenge if they were to start their own business,
    down from 52 per cent in 2012 

 
Regional Breakdown  


 
----------------------------------------------------------------------------
                                  TOTAL   ATL    QC    ON  MB/SK    AB    BC
----------------------------------------------------------------------------
Percentage of women who are                                                 
 likely to start their own                                                  
 business in the next 10 years       36    25    21    42     35    36    49
----------------------------------------------------------------------------
Percentage of women who say they                                            
 would consider starting their                                              
 own business if given the                                                  
 opportunity to do so as an                                                 
 opportunity to do something they                                           
 love                                57    59    52    58     59    62    59
----------------------------------------------------------------------------
Percentage of women who say they                                            
 would consider starting their                                              
 own business if given the                                                  
 opportunity who see access to                                              
 capital as the biggest challenge                                           
 to owning a business                42    26    33    50     44    47    40
----------------------------------------------------------------------------

 
For Canadian women who would see themselves as potential small
business owners, traditional gender preferences still apply. The
survey revealed: 


 
--  19 per cent would start a business in the food and hospitality sector,
    and 15 per cent in the arts/entertainment/recreation sector 
--  Only five per cent would want to become an entrepreneur in information
    technology and four per cent in a skilled trade 

 
Regional Sector Breakdown 


 
----------------------------------------------------------------------------
                                  TOTAL   ATL    QC    ON  MB/SK    AB    BC
----------------------------------------------------------------------------
Percentage of women who would                                               
 start a business in the food and                                           
 hospitality sector                  19    25    21    17     24    19    11
----------------------------------------------------------------------------
Percentage of women who would                                               
 start a business in the arts and                                           
 entertainment sector                15     6    17    14      7    11    21
----------------------------------------------------------------------------
Percentage of women who would                                               
 start a business in the                                                    
 health/social assistance sector     11     6    15    11     12     8     7
----------------------------------------------------------------------------

 
These preferences align with government statistics that show 
food and
accommodation industries have the highest share of businesses where
women are the majority-owners. 
BMO and International Women's Day 
Events are being held in local communities across the country to
celebrate the achievements of women in business and support
International Women's Day. Visit bmo.com/smallbusiness for more
information on locations in your area. 
BMO Bank of Montreal has a long history of championing the
advancement of women in Canadian business. BMO is a partner with
national organizations including: Catalyst, WEConnect Canada, Women
Presidents' Organization and Canadian Women's Foundation. BMO is also
the founding and leading partner in development for GroYouzBiz.  
To support International Women's Day, happening on March 8th, BMO
will be donating $2 dollars to the Canadian Women's Foundation for
each tweet and retweet of the #BMOIWD hashtag, up to a maximum of
$10,000. 
At BMO, entrepreneurs can find information on all aspects of business
ownership at the BMO SmartSteps(R) for Business Community.  
The Pollara online survey was completed between February 14 and
February 19, 2013, with a sample of 1,040 Canadians 18 years of age
and over. A probability sample of this size would yield results
accurate to +/- 3.0 per cent, 19 times out of 20. 
About BMO Financial Group  
Established in 1817 as Bank of Montreal, BMO Financial Group is a
highly diversified North American financial services organization.
With total assets of $542 billion as at January 31, 2013, and more
than 46,000 employees, BMO Financial Group provides a broad range of
retail banking, wealth management and investment banking products and
solutions.
Contacts:
Media Contacts:
Russell Baker, Toronto
(416) 867-3996
russell.baker@bmo.com 
Valerie Doucet, Montreal
(514) 877-8224
valerie.doucet@bmo.com 
Laurie Grant, Vancouver
(604) 665-7596
laurie.grant@bmo.com 
Internet: www.bmo.com
Twitter: @BMOmedia
 
 
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