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Half of Canadian Students Aspire to Start Their Own Business After Graduating: BMO Survey

Half of Canadian Students Aspire to Start Their Own Business After Graduating: 
BMO Survey 
- Students in B.C. most likely to start a business   
- Fewer than one-third are very confident they will find a job in
their field of study 
TORONTO, ONTARIO -- (Marketwired) -- 09/06/13 -- The entrepreneurial
spirit is alive among young Canadians, according to a report released
today by BMO Bank of Montreal. The report revealed nearly half of
Canadian students (46 per cent) see themselves starting a business
after graduation, whether as a primary or secondary source of income. 
The survey, conducted by Pollara, asked Canadian post-secondary
students about their aspirations to own a business and their career
prospects. The results show that only one-third (29 per cent) are
very confident they can find a job in their own field after
graduation.  
"Our research tells us that a number of students are unsure if they
will end up working in their field of study. The good news is, this
means they will look to other post-graduate opportunities as a form
of income - which could include starting a business," said Steve
Murphy, Senior Vice President, Commercial Banking, BMO Bank of
Montreal. "It's encouraging to see Canadian post-secondary students
and recent graduates who are ambitious, innovative and eager to
contribute to Canada's economy." 
According to Statistics Canada, approximately 130,000 new small
businesses are created in Canada annually. These businesses are the
key to creating driving employment, with more than 40 per cent of
Canadians working for an organization with fewer than 100 employees.  
The results also showed:  


 
--  Males are more likely to start a business than their female counterparts
    (53 per cent versus 40 per cent) 
--  Only seven per cent of students expect to work in the family business 
--  Male students are much more confident they will find a job in their
    field than female students (38 per cent versus 22 per cent very
    confident)

 
Regional Breakdown  
From a regional perspective, the survey found that those in British
Columbia are most likely to start their own business, followed by
students in the Prairies.  


 
----------------------------------------------------------------------------
               
   Total  Atlantic   Quebec  Ontario Prairies Alberta   B.C. 
----------------------------------------------------------------------------
Start business                                                              
 after graduation    46%       42%      46%      47%      49%     41%    50%
----------------------------------------------------------------------------

 
BMO offers a free(i) banking option to students, and is the only bank
to extend this offer by a year for graduating students. A BMO Student
Line of Credit, which charges interest only on what is actually
borrowed, allows students to use as little or as much as needed up to
their approved credit limit. In addition, students can make
interest-only payments while in school and up to one year after
graduation. Plus the no-fee BMO SPC credit card provides students
with Student Price Card (SPC) discounts at hundreds of retailers and
restaurants across Canada and offers a choice of CashBack or AIR
MILES reward miles.  
The results cited in this report come from an online survey fielded
by Pollara between July 22, 2013 and July 25, 2013 with a sample of
602 Canadian post-secondary students. Overall results for a
probability sample of this size would be accurate to +/- 4.0%, 19
times out of 20. 
(i) Applies to the Kids, Teens and Students Discount Programs in the
Plus Plan when a Primary Chequing or Premium Rate Savings account is
opened. Recent Post-Secondary School Graduates are eligible for one
year of free banking under the Student Discount Program. Customer is
responsible for all the fees of any transactions, services and
products not included in the Everyday Banking Plan.  
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 $549 billion as at July 31, 2013, and more than
46,000 employees, BMO Financial Group provides a broad range of
personal and commercial banking, wealth management and investment
banking products and solutions. 
Contacts:
Media Contacts:
Alexis Brown, Toronto
(416) 867-3996
alexis.brown@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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