Report: Canada ranked second best country for social entrepreneurs

500 Canada

A recent poll conducted by the Thomson Reuters Foundation, in partnership with the Deutsche Bank, UnLtd, and the Global Social Entrepreneurship Network, ranked Canada as the second best country for social entrepreneurs. Canada was just behind the United States.

The poll was conducted in 45 of the world’s biggest economies to find out which countries are creating the best environments for social entrepreneurs. In each of the countries, 20 experts ranging from investors, academics, policy makers, and current social entrepreneurs were asked questions about how social entrepreneurship is treated in their country. The survey’s results ranked and scored each of the countries to determine its support for social entrepreneurship.

Canada is among the best countries for social entrepreneurs because of government policies that support entrepreneurs’ work.

The survey’s results showed that Canada ranks as the second best country for social entrepreneurs due to a supportive environment for scaling and growing businesses. When it comes to creating favourable conditions for social entrepreneurs, Canada ranked sixth and scored 72.9. Canada also ranked first and scored 70.8 as a country where social entrepreneurs can make a living from their work, and as the top country where social entrepreneurship is gaining momentum.

In terms of ease of access to support and funding, Canada’s experts suggested that it was easiest for social entrepreneurs in Canada to access investment (ranked first and scored 58.3). In terms of accessing non-financial support such as legal and technical advice, and access to markets, mentorship, and networking, Canada was ranked 9th and scored 70.8, coming in behind countries like Singapore and the United Kingdom. Experts indicated that social entrepreneurs can access grant funding relatively easily in Canada as well (ranked 8th and scored 52.9).

Thomson Reuter Foundation’s survey also looked at the challenges social entrepreneurs have in accessing and selling to different markets. Canada’s experts suggested that it was easiest for social entrepreneurs in Canada to sell to the public (ranked sixth with a score of 68.8), compared to businesses (ranked fourth with a score of 58.8), and then the government (ranked seventh with a score of 43.8).

The results of the survey also suggested that Canada is among the best countries for social entrepreneurs because of government policies that support social entrepreneurs’ work (ranked fifth with a score of 70.8). They suggested that in Canada, it’s also easy for social entrepreneurs to attract qualified staff to help scale their businesses and ideas (ranked fourth with a score of 72.9).

Overall, the survey’s findings suggest that Canada has created a positive culture and environment for social entrepreneurs to scale their businesses and access the necessary support.

View the full results here.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer at BetaKit. As a fourth-year journalism student who has written primarily about entrepreneurship, Amira has developed a growing interest in Canadian startup, business, and tech news. In her free time, Amira enjoys reading, baking and watching legal shows.