Entrepreneurship: Everybody’s Business Forum pancanadien sur le développement économique en francophonie canadienne Presented on Thursday, November 1, 2012 By Alain Aubut, President and CEO, Fondation de l’entrepreneurship

2 The Global Economy in Turmoil ■No country can claim immunity. ■Nations with solid institutions and good governance (e.g., France, Canada) have not escaped. ■An ideal, perhaps even critical, time to transform entrepreneurship.

3 Entrepreneurship as a Solution ■Some countries have grasped entrepreneurship’s importance for economic growth and have taken concrete measures. ■Example – Singapore : –Entrepreneurial movement launched in 2003 bringing together the public and private sectors (Action Community for Entrepreneurship - ACE) –Relaxing of regulations and approaches for facilitating business creation

4 Entrepreneurship as a Solution ■The Startup Act in the US ( Kauffman Foundation) –Employment growth comes almost exclusively from startups less than 5 years old. –Startups are largely responsible for marketing the innovations forming the core of our modern lives. –A non-partisan proposal targeting the relaxation of tax rules, shortening of time from innovation to market, leveraging the strengths of immigrant entrepreneurs, etc.

5 Entrepreneurship as a Solution ■Where does Quebec stand ? Quebec Entrepreneurship Strategy (November 2011) –Objectives: ■ Increase the number of entrepreneurs, provide more effective support through all stages of business development and operation and help to foster a new generation of entrepreneurs ■ Inject $450M over 3 years ■ 5 focuses to provide for greater cohesion of actions (RAISE the profession’s profile, DEVELOP the entrepreneurial culture, SUPPORT entrepreneurship, STREAMLINE support efforts, ENERGIZE regional potential).

6 Foundations: Gauging Entrepreneurial Vitality 6

7 The State of Entrepreneurship ■Alarming statistics in Quebec: –The proportion of aspiring entrepreneurs in Quebec is nearly half that in the rest of Canada. –Succession: by 2020, some 38,000 businesses in Quebec will lack an entrepreneur to lead them. Quebec entrepreneurial index (QEI/IEQ) of the Fondation de l’entrepreneurship (2011)

8 The State of Entrepreneurship ■Outlook in 2012: –Around one-third (31.9%) of Quebecers not currently involved in an entrepreneurial effort are open to becoming entrepreneurs. –Why aren’t the rest? ■Main reasons: –Retired (QC: 24.1%; ROC: 23.5%) –Not enough money (QC: 19.8%; ROC: 25.4%) –Already have good job (QC: 13.2%; ROC: 15.0%) in keeping with their career goals (QC: 11.5%; ROC: 12.2%) and offering good benefits (QC: 7.8%; ROC: 8.4%).

9 Stimulating an Entrepreneurial Culture

10 On the Front Lines: Communities in Action 10

11 Why Everybody’s Business? ■Health, education, the environment ■Entrepreneurs create wealth: –Promote business creation projects –Entrepreneurs = engines of a collectively wealthy society ■Social entrepreneurship –Economic and social initiatives generating benefits that are reinvested to the benefit of the mission

12 ■Challenges ■Mobilizing the actors –Everyone has a stake in the success! Communities in Action

13 Communities in Action

14 The Future: Supporting Entrepreneurial Sustainability 14

15 A Quebec Model ■A community of interests founded in 2000 –1,300 volunteer mentors (people who have “been there” and returned with success stories) –Support provided to 2,500 entrepreneurs in 2012 –82 service points throughout Quebec –High-calibre service governed by a code of ethics –Professional development and recognition programs.

16 A Quebec Model ■A community of interests: –Founded on local and regional mobilization of all private and public actors in the provision of mentorship services and stimulation of entrepreneurial capabilities –Focused on supporting entrepreneurs through the sharing of expertise.

17 The Fondation: At the Heart of Entrepreneurship in Quebec ■Founded more than 30 years ago to stimulate Quebec’s entrepreneurial culture: –Working FOR and WITH entrepreneurs –The only entirely neutral organization dedicated to promoting the entrepreneurial culture –Structuring initiatives such as Réseau M, the Quebec entrepreneurial index, projects to stimulate succession planning and young talent Efforts to ensure that Québec inc. is not just a myth but in fact another step towards creating an even more entrepreneurial Quebec.

18 It takes me, you, every one of us... 13th Rendez-vous annuel du mentorat pour entrepreneurs – Réseau M – May 2012

19 Thank You to Our Campaign Donors ■“Grands bâtisseurs” (Platinum) ■“Bâtisseurs émérites” (Gold) ■“Bâtisseurs alliés” (Silver)

20 Thank You to Our Corporate Partners Réseau M