Last Updated on March 25, 2026

Did you know entrepreneurship requires extensive knowledge of the field of your choice, relevant skillset, the right mindset and luck? So, how do you know when it is time for you to move on to your own project? Entrepreneurship isn’t for everyone, after all. Explore your entrepreneurship readiness via Berelevant Network’s Characteristics Checklist for Entrepreneurs developed by its founder, Vivian Davis, a former career specialist at multiple contracted provincial government offices.

*This article is inspired by Daily writing prompt.

the current Entrepreneurship climate in Canada

Berelevant Network is a Canadian, and BC company. Before Berelevant Network was born, Vivian made more than 100 phone calls (including emails) to the government offices, legal and accounting firms to find the right support and resources.

is Entrepreneurship highly Regarded in canada?

Business Development Bank of Canada (2019) surveyed over 1000 Canadians, and 76% of whom had a positive opinion of entrepreneurs. To look further into the results, 88.9% of surveyed Canadians agreed that “entrepreneurship is important for the Canadian economic development”, while 60.2% of the total respondents agreed that “Canadian culture promotes entrepreneurship”.

However, according to Entrepreneurial Countries 2025 released by World Population Review, the 2024 results indicated that Canada only scored 1.42 and 1.85 on “innovation” and “competitiveness” respectively, which is at the bottom of the list. Interestingly, Canada scored 49.6 on “labour skills”, which is the highest amongst all other participating countries. Based on the results, Canada has many talented people who appear unrecognized or underappreciated.

From our experience, the BC government supports entrepreneurship, but the seats are often reserved for those who already have sufficient capital seeds to fund the business. On the other hand, even though the federal government offers incentives for small business owners, it is usually for very specific types of business or population, such as agriculture, technology and social services.

a characteristics Checklist for Entrepreneurs

Now you’ve learned where we stand, it’s time to help you figure out whether you’ve got what it takes to become an entrepreneur. As this complete checklist is a generic guideline for those who have or who want to assess their entrepreneurial spirit to explore possibilities, please kindly note that every country/region is different, contact your local authority to learn the most relevant way to legally set up a company.

Here are the 8 characteristics of an entrepreneur and questions to ask yourself:

1. high Media literacy

Because of the nature of human evolution, your media literacy will determine how far you’ll go in the era of AI. What’s the most effective way for you to research a new piece of information? Do you know what your learning style is? Is there a system?

2. having the ability to grasp new information: legal terminology

You don’t have to be “Jack (or Jill) of all trades”, but how comfortable or familiar are you with your local laws and regulations? Are you willing to read and learn about them, or would you rather hire professionals?

3. high financial literacy

Your financial literacy is a critical life skill that helps you make informed decisions, leading to financial stability. How do you handle money? Are you aware of your spending habits? Managing a business, after all, isn’t as simple as handling personal expenses.

4. high resilience

When was the last time you asked for help? Have you built a strong social network, trust circle or support system? Do you work well under pressure, or with a tight deadline?

5. high Adaptability

Besides resilience, to thrive in this new era, to what extent are you flexible with changes? Have you developed one or more contingency plans for emergencies or any unforeseeable events?

6. Willingness to Accept new ideas: Open-mindedness

Living in a fast-paced and evolving world, how open-minded are you when it comes to learning new ideas or methods? Can you look past differences in beliefs, cultures, educational backgrounds or genders?

7. Resourcefulness

Can you be resourceful? How are your organizational skills and time management abilities? Do you have any family or social duties or responsibilities, like if you juggle multiple roles, such as being a parent or legal guardian of one or more dependents? Would these obligations be re-assigned or taken care of while you are building your reputation?

8. Perseverance

Do you often take “rejection” personally? How well can you handle constructive criticism? Are you hard on yourself, or often see yourself as a total failure if things don’t go as planned? Would you give up on a difficult task quickly, or after just a few attempts?

key takeaway

Entrepreneurship isn’t for everyone, especially when most do not have sufficient resources or relevant skillset. Review our Characteristics Checklist for Entrepreneurs, and contact us if you need more clarity.

Not sure when you need professional support on career change, career planning or how to find a life/work balance? Reach out for a free consultation today!

references

Business Development Bank of Canada. (2019). What do Canadians think of entrepreneurs? https://www.bdc.ca/en/articles-tools/blog/what-canadians-think-entrepreneurs

World Population Review. (2025). Entrepreneurial Countries 2025. https://worldpopulationreview.com/country-rankings/entrepreneurial-countries