Entrepreneurs stay the course: 92% would choose this path again
BDC unveils its first-ever Report on the State of Entrepreneurship during BDC Small Business Week™
Highlights from the national survey include:
- 74% of Canadian SMEs took steps to improve productivity this year; nearly one-third (30%) leveraged new technologies.
- While 86% report being in good health, 54% experienced emotional or mental exhaustion during the year.
- More than half (55%) of entrepreneurs aim for moderate to strong growth in the coming year.
- Profitability improvement, customer retention, and cost reduction top the list of priorities for the next 12 months.
MONTRÉAL, Oct. 20, 2025 (GLOBE NEWSWIRE) -- As Canada navigates a period of economic, technological, and geopolitical transformation, small- and medium-sized business (SME) owners remain deeply committed to their entrepreneurial journey. According to the newly released BDC Report on the State of Entrepreneurship 2025, published to mark the launch of BDC Small Business Week™, 92% of entrepreneurs would choose this path again if given the chance.
“It’s remarkable to see how invested entrepreneurs are,” said Pierre Cléroux, Vice President, Research and Chief Economist at BDC. “Despite headwinds, these leaders continue to believe strongly in their business mission. Their ability to adapt and innovate is what keeps our economy moving. With more than 142,000 businesses expected to trade hands by 2030, this ambition is more valuable than ever.”
Canadian entrepreneurs continue to demonstrate a strong drive to grow and innovate. In fact, 34% of business owners are aiming for moderate growth over the next year, 21% anticipate strong growth, and 12% are preparing for a radical transformation of their business model. Specifically, 40% plan to improve profitability, 28% are focused on customer retention, and 25% are targeting cost reductions. (Respondents could choose up to three answers.)
“What we’re seeing is a clear willingness to move forward, with a realistic perspective,” added Cléroux. “Entrepreneurs are adjusting their goals to market realities, and many are looking to reinvent themselves. This ability to look ahead, even in uncertain times, is a key driver of economic momentum.”
Access the full BDC Report on the State of Entrepreneurship 2025 here.
About the Report
Published as part of BDC Small Business Week™, the BDC Report on the State of Entrepreneurship 2025 provides a comprehensive and insightful look at Canadian entrepreneurs and their businesses. It explores the key challenges faced by business owners and highlights the strategies they are deploying to overcome them. It is based on national and regional survey data, as well as exclusive case studies.
The survey was conducted among 1,502 business owners and members of the Sago AskingCanadians online panel between July 17 and August 1, 2025. Data analysis was carried out by BDC’s Research and Market Intelligence team. For a probabilistic sample of 1,502 respondents, the maximum margin of error is ±2.5 percentage points, 19 times out of 20. However, as this survey is based on a non-probabilistic sample, this information is provided for reference only.
About BDC: 80 years as Canada’s bank for entrepreneurs
BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. Our financing and investments in fiscal 2025 will add an estimated $25 billion to Canada’s GDP over the next five years. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers, and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.
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