A new national report on entrepreneurship shows that the environment and culture in Canada is healthy with 60% of respondents believing it's a good career choice and only 37% saying they would be prevented from becoming entrepreneurs due to a fear of failure. The report was issued by the Calgary-based The Centre for Innovation Studies (The CIS) as part of a global survey of trends in 70 countries by the Global Entrepreneurship Monitor (GEM).

Entitled Driving Wealth Creation and Social Development in Canada, the Canada-wide report is authored by Cooper Langford, Peter Josty and Adam Holbrook. In the coming months, separate provincial reports will be released for Ontario, Quebec, British Columbia, Alberta, Saskatchewan, Manitoba and Newfoundland.

To improve entrepreneurship further, the report recommends that government policies need to be overhauled to "explicitly prioritize small and growing firms, especially those with innovation and growth potential".

Other recommendations include:

* Use government procurement as a tool for developing young innovative firms and promote collaboration between local innovative firms and government agencies;

* Promote activities that foster entrepreneurial activities in secondary and post-secondary educational settings;

* Continue with red tape reduction programs that facilitate the emergence and growth of innovative firms; and,

* Identify improvements in framework conditions for women entrepreneurs.

The report bases its findings on the contention that high growth, introduction of new products and significant export orientation are "signals of productive entrepreneurship and innovation". It seeks to determine to what extent entrepreneurship can inform and promote economic growth, job creation, sustainability and quality of life.

Early-stage entrepreneurship is most commonly found the 25-34 age group.

To obtain a copy of the report, go to www.gemcanada.org.

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