Entrepreneurship: Everybody’s BusinessForum pancanadien sur le développement économique en francophonie canadienne

Presented on Thursday, November 1, 2012By Alain Aubut, President and CEO, Fondation de l’entrepreneurship

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The Global Economy in Turmoil

■ No country can claim immunity.

■ Nations with solid institutions and good governance (e.g., France, Canada) have not escaped.

■ An ideal, perhaps even critical, time to transform entrepreneurship.

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Entrepreneurship as a Solution

■ Some countries have grasped entrepreneurship’s importance for economic growth and have taken concrete measures.

■ Example – Singapore:

– Entrepreneurial movement launched in 2003 bringing together the public and private sectors (Action Community for Entrepreneurship - ACE)

– Relaxing of regulations and approaches for facilitating business creation

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Entrepreneurship as a Solution

■ The Startup Act in the US (2011 - Kauffman Foundation)

– Employment growth comes almost exclusively from startups less than 5 years old.

– Startups are largely responsible for marketing the innovations forming the core of our modern lives.

– A non-partisan proposal targeting the relaxation of tax rules, shortening of time from innovation to market, leveraging the strengths of immigrant entrepreneurs, etc.

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Entrepreneurship as a Solution

■ Where does Quebec stand?Quebec Entrepreneurship Strategy (November 2011)

–Objectives:

■ Increase the number of entrepreneurs, provide more effective support through all stages of business development and operation and help to foster a new generation of entrepreneurs

■ Inject $450M over 3 years

■ 5 focuses to provide for greater cohesion of actions (RAISE the profession’s profile, DEVELOP the entrepreneurial culture, SUPPORT entrepreneurship, STREAMLINE support efforts, ENERGIZE regional potential).

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Foundations:Gauging Entrepreneurial Vitality

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The State of Entrepreneurship

■ Alarming statistics in Quebec:

– The proportion of aspiring entrepreneurs in Quebec is nearly half that in the rest of Canada.

– Succession: by 2020, some 38,000 businesses in Quebec will lack an entrepreneur to lead them. Quebec

entrepreneurial index (QEI/IEQ) of the Fondation de l’entrepreneurship (2011)

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The State of Entrepreneurship

■ Outlook in 2012:

– Around one-third (31.9%) of Quebecers not currently involved in an entrepreneurial effort are open to becoming entrepreneurs.

– Why aren’t the rest? ■ Main reasons:

– Retired (QC: 24.1%; ROC: 23.5%)

– Not enough money (QC: 19.8%; ROC: 25.4%)

– Already have good job (QC: 13.2%; ROC: 15.0%) in keeping with their career goals (QC: 11.5%; ROC: 12.2%) and offering good benefits (QC: 7.8%; ROC: 8.4%).

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Stimulating an Entrepreneurial Culture

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On the Front Lines: Communities in Action

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Why Everybody’s Business?

■ Health, education, the environment■ Entrepreneurs create wealth:

– Promote business creation projects– Entrepreneurs = engines of a collectively wealthy

society

■ Social entrepreneurship– Economic and social initiatives generating benefits that

are reinvested to the benefit of the mission

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■ Challenges■ Mobilizing the actors

– Everyone has a stake in the success!

Communities in Action

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Communities in Action

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The Future: Supporting Entrepreneurial Sustainability

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A Quebec Model

■ A community of interests founded in 2000

– 1,300 volunteer mentors (people who have “been there” and returned with success stories)

– Support provided to 2,500 entrepreneurs in 2012

– 82 service points throughout Quebec

– High-calibre service governed by a code of ethics

– Professional development and recognition programs.

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A Quebec Model

■ A community of interests:

– Founded on local and regional mobilization of all private and public actors in the provision of mentorship services and stimulation of entrepreneurial capabilities

– Focused on supporting entrepreneurs through the sharing of expertise.

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The Fondation: At the Heart of Entrepreneurship in Quebec

■ Founded more than 30 years ago to stimulate Quebec’s entrepreneurial culture:

– Working FOR and WITH entrepreneurs

– The only entirely neutral organization dedicated to promoting the entrepreneurial culture

– Structuring initiatives such as Réseau M, the Quebec entrepreneurial index, projects to stimulate succession planning and young talent

Efforts to ensure that Québec inc. is not just a mythbut in fact another step towards creating an even more

entrepreneurial Quebec.

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It takes me, you, every one of us...

13th Rendez-vous annuel du mentorat pour entrepreneurs – Réseau M – May 2012

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Thank You to Our Campaign Donors■ “Grands bâtisseurs” (Platinum)

■ “Bâtisseurs émérites” (Gold)

■ “Bâtisseurs alliés” (Silver)

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Thank You to Our Corporate Partners

Réseau M