Why Entrepreneurship is Important to Canada

While entrepreneurship is often linked with starting your own business, in reality it is simply a mindset. Entrepreneurship is important to Canada because it is a mindset of possibility, development, and growth that everyone can adopt and leverage, regardless of their circumstances. Without this mindset, the country will stall and, if enough time passes, move backwards. With it, the country will thrive and push forward, continuing a long history of invention and growth that made Canada a worldwide powerhouse.

A Mindset of Possibility:

An entrepreneurial mind is one that believes things can happen that currently don’t exist. One famous example is Alexander Graham Bell, founder of modern communications. He believed, against all odds, that there was a better way to communicate with people across distances in real time. While he did become famous and run a successful company from his invention, Bell did not begin as an “entrepreneur” in the running-your-own-business sense of the word. He was a professor who wanted a better way to communicate with his hard-of-hearing students.

A Mindset of Development:

On top of believing something can exist, the entrepreneurial mindset believes that those things can be built. Just as Bell believed that a better communication device was possible, he also believed it could be developed, dedicating time to building and experimenting. Many people can come up with ideas, but the value of an idea comes in its execution or development. Whether that means founding a business, taking on a role within a company, or helping someone else with their creations, the belief that something can be built (and then going and building it) is a hallmark of the entrepreneurial mind. Finally, the entrepreneurial mindset believes that something, once built, can grow and be improved upon. Bell created the telephone, but worked tirelessly to make improvements on it once he realized its potential.

A Mindset of Growth:

In the Canadian context, entrepreneurship combines all three facets to create new jobs, wealth, experiences, and opportunities. New ideas are always created and the best ones built. From there, the pathway diverges; some will think of new ideas yet again, others will build ideas already thought-out, and some will improve upon ideas already built. An entrepreneur can take on any of these roles, working in tandem with other great minds to fill any gaps. The reason why entrepreneurship is so important to Canada is not only because of the benefits of this powerful mindset, but because this mindset can be taught, augmented, and strengthened. If every Canadian can be imbued with the mindset of creation and iteration, then Canada will develop products, services, and ways of work that the world has never seen before; after all, being entrepreneurial starts with envisioning a world – and a Canada – that doesn’t yet exist.

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