EDMONTON, ALBERTA--(Marketwired - Nov. 1, 2016) - Edmonton entrepreneurs may have big business dreams but kudos from Canadians and even fellow Albertans are in short supply, according to a recent survey by Edmonton law firm Duncan Craig LLP.
An established presence in Edmonton's Entrepreneurial scene, Duncan Craig LLP commissioned a nationwide survey to gauge Canadian attitudes toward Edmonton's rising business scene. The results show that Edmonton still has a way to go to achieve recognition on the national playing field.
Key Findings of The Survey:
1. In contrast to the rest of Canada, Albertans are optimistic about their local business scene:
- 41.6% of Canadians believe Toronto breeds the most successful entrepreneurs, followed by 22.0% who selected Vancouver. Edmonton was selected by just 5.2% of all respondents
- 43.9% of Alberta respondents rated Edmonton's business start-up scene as somewhat competitive, while 21.8% believe it is significantly competitive
- By comparison, 36.6% of Canadians nationwide rated Edmonton's entrepreneurial scene as somewhat competitive while 28.1% of respondents 'weren't sure'
- A mere 26.4% of Canadians believe Edmonton is an 'important market', with only 12.3% of respondents viewing Edmonton as a 'major market' or 'industry leaders'
2. Home is where the heart is. The location of those polled revealed a clear bias in their answers:
- Respondents in Ontario were more than twice as likely (60.9%) to select 'Toronto' as home to the most successful entrepreneurs than those in British Columbia (24.0%)
- Similarly, 51.3% of British Columbia respondents answered 'Vancouver' compared to just 14.6% of Ontario respondents
- With two significant markets in their province, the majority (28.8%) of Alberta respondents leaned in favour of Calgary while 17.2% selected Edmonton
3. Capital versus Community: Canadians are conflicted on which is most crucial for business success:
- 31.4% of those polled - a slim majority - believe community and consumers are most crucial to small business success, while 23.2% selected financial and start-up incentives as being most crucial.
- Respondents of a younger age demographic (aged 18-34) were more likely to select community over capital at 39.9% compared with older respondents (aged 45-54) at 25.7%
- When questioned on the biggest barrier to growth for entrepreneurs, 26.3% of Canadians selected lack of start-up capital, yet 17.8% conversely believe it is a lack of clients
- 32.7% of Alberta respondents believe that community and consumers are the most crucial factors for small business success
- At the same time, 31.0% of Alberta respondents claim lack of start-up capital is the biggest barrier to growth
"Edmonton business owners can get overshadowed by Canada's larger markets, however Edmonton's entrepreneurs continue to punch above their weight and are deserving of recognition from their Canadian peers and those abroad," said Ross Swanson, Partner at Duncan Craig LLP.
In light of these survey results, Duncan Craig LLP issues a challenge to Albertan consumers and businesses to counter these perceptions and celebrate the success of Edmonton entrepreneurs.
"Edmonton continues to be an incubator for companies that find national and international success," added Swanson. "Intuit Canada, Bioware and Boston Pizza are all companies that young Edmonton entrepreneurs look to as proof that their ideas can succeed in this city. We encourage any and all entrepreneurs in other parts of Canada that are looking for a city that can support the growth of their ideas, to consider Edmonton as home."
About Duncan Craig LLP:
Duncan Craig LLP is one of Alberta's largest and oldest law firms. Originally established in Edmonton in 1894 by William Short, who later served as first Mayor of the City of Edmonton, and Charles Cross, who became the first Attorney General of the Province of Alberta, Duncan Craig LLP continues its founders' legacies with an established presence in the heart of Edmonton. The firm now maintains close to fifty lawyers who provide a full range of legal solutions to individuals, businesses and public institutions within Alberta and across Canada and the United States.
About the survey:
The Google survey polled over 1000 respondents across the general population of Canada on the Google Consumer Surveys publisher network.