Every October, the Business Development Bank of Canada (BDC) celebrates small business week. This is a time where Canadians can learn more about the benefits of entrepreneurship and how to start and grow their own businesses.
As the largest provider of financing, insurance, and advisory services to small businesses, BDC has a lot to offer. In this blog post, we will discuss the top five benefits of entrepreneurship, as well as some of resources that BDC offers to help small businesses succeed!
What is BDC small business week?
Small business week is a national event that takes place every October. During this week, BDC provides entrepreneurs with information, resources and tools to help them start and grow their businesses. In 2022, BDC small business week will take place from October 16-22.
How does BDC help small businesses?
In addition to a range of financing, insurance and advisory services for small businesses, BDC also has a team of business development managers who work with entrepreneurs to help them grow their businesses. On the BDC website, business owners can find online resources, such as webinars as well as articles about everything from starting or buying a business to sustainability.
What are the top five benefits of entrepreneurship?
There are many benefits of entrepreneurship, but the top five are:
- The ability to be your own boss and set your own hours,
- An opportunity to turn your ideas into reality,
- The satisfaction of seeing your business grow and succeed,
- A chance to make a difference in your community, and
- Potential to earn a high income.
Let’s dig a bit deeper into exactly what these benefits of entrepreneurship entail.
Flexibility
The ability to set your own hours is a huge perk of being a business owner. You can structure your day around the things that are important to you, whether that means picking your kids up from school or taking a yoga class in the middle of the day. This flexibility also extends to where you work – you can choose to work from home, from a coffee shop, or from a co-working space.
Passion
For many people, entrepreneurship is an opportunity to turn their passions and ideas into their reality. If you’ve always dreamed of owning your own bakery or starting a pet-sitting business, being a small business owner gives you the chance to make that happen. You may have ideas about how to do something better or provide better service than a business you’ve visited.
Accomplishment
There’s nothing quite like seeing your business grow and succeed. When you’re a small business owner, you get to see the fruits of your labour firsthand. Whether it’s reaching a milestone like your one-year anniversary or seeing an increase in sales month over month, as a business owner, you get to take pride in your accomplishments.
Community
Small businesses play a big role in their communities. They provide employment opportunities, support other local businesses, and help grow their local economy. As a small business owner, you have the chance to make a positive impact on the people and businesses around you.
Income
For many entrepreneurs, one of the biggest benefits is the potential to earn the income they determine. While it takes time and hard work to build a successful business, the financial rewards can be significant.
Entrepreneurship is a big commitment, but it comes with many rewards. To learn more about starting a business, visit Business Development Bank of Canada’s website or contact us through this form on our website. We’re a small business too and understand the rewards and challenges you’re facing!
