Canadians are embracing entrepreneurship, with more people exploring ways to transform their side hustles and passion projects into sources of income.
According to a recent RBC Small Business Poll, Quebecers are leading the way in exploring new paths to business ownership. From transitioning out of traditional jobs to building businesses that align with personal values, or creating side hustles to test out an idea, the motivations behind becoming your own boss are evolving—and it’s not just about the money.
In fact, 94% of aspiring entrepreneurs in Quebec cited meaningful work as their top motivation for starting a business, ranking even higher than earning more income. For Gen Z and Millennials, entrepreneurship also means creating a flexible lifestyle.
But starting a business in Canada can be both simple and challenging. Simple, because the barriers to entry are diminishing – digital tools, expert advice, and tailored resources are making it easier than ever to start a business. Challenging, because it takes a healthy dose of hard work and self-belief to launch a viable business, let alone a solid business idea and plan.
Take Camille and Guillaume, Quebec-based digital nomads who turned their passion for photography and videography into a thriving business. But building a successful business has been a learning process.
“In our first year, we didn’t know we had to put money aside for taxes,” Camille shares. “Halfway through the year, we realized we needed to send almost $40,000—and of course, we didn’t have the money. We had to work harder and smarter during the last six months to make it work.”
Luckily, RBC has been there every step of the way on their journey. RBC helps entrepreneurs not just through financial support but also with tailored tools that go beyond banking, expert advice, and partnerships that extend far beyond traditional banking.
For example, one practical piece of advice that the bank shares with small business owners like Cam and Guillaume is to open a second bank account to set aside funds for your tax obligations. This simple strategy helps keep funds organized and ensures that business owners are prepared come tax season..
“It’s comforting to know I can rely on their advice and tools whenever I need support,” Camille says.
If you’re a Quebecer dreaming of starting your own business, you’re not alone—and you’re in good company. Compared to Canadians overall, aspiring entrepreneurs in Quebec are more likely to turn hobbies into income (40% vs. 31%) or test business ideas while keeping their full-time jobs (13% vs. 8%), according to RBC.
With resources like the Starting a Small Business Hub and Beyond Banking Services, RBC makes it easier for entrepreneurs (like you!) to turn their passion into a sustainable business.
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