Saskatoon’s young entrepreneurs offer fresh perspective to business

Watch above: Bridge City lacks young entrepreneurs

SASKATOON – Saskatchewan has a strong small business landscape; however, it lacks in the age demographic that is most likely to take the risk to become an owner, according to a recent study.

The Canadian Imperial Bank of Commerce (CIBC) ranked the province in a tie for fourth when it comes to providing advantages for small businesses in Canada. The findings came out in a recent national small business report from the bank.

However, Saskatchewan ranked last in the 35 to 55 age demographic, which the report says is most likely to start a small business.

According to CIBC, only 26 per cent of the province’s population falls within that age range, which may point to business owners like Cameron Ewen, 26, having to fill the void.

“The Saskatchewan economy is booming and you can really see it in Saskatoon, there’s so much growth,” said Ewen, who co-owns Prairie Sun Brewery, which had its first anniversary this past August.

The lack in the 35 plus age demographic may have something to do with the number of young people who left the province for other opportunities years ago, according to Kent Smith-Windsor, the Greater Saskatoon Chamber of Commerce’s executive director.

“I’d say that this trend probably started somewhere around five years ago and it’s just really been growing, sort of with how the city has grown itself,” said Stephanie Yong, the director of the University of Saskatchewan’s Wilson Centre for Entrepreneurial Excellence.

However, the influx of young entrepreneurs brings fresh faces and outlooks to the Bridge City’s economy. According to Yong, younger business owners approach new ventures differently than older entrepreneurs.

“When you’re young, you’re willing to take any sort of risks, you’re really willing to dive in,” said Yong.

“When you’re older and you’re starting business you tend to be married, you tend to have children, you have dependents, you have a life established.”

“I don’t have any kids, or other people that I have to take through that are going to take up my time,” said Ewen.

“I can just  put everything into this business.”