Entrepreneurship is one of the most invigorating, most challenging and most rewarding pursuits there is. It’s the chance to build not just a business, but also the lifestyle you want. It’s hardly surprising that so many have been unable to resist the temptation, which has led to some amazing, internationally renowned entrepreneurs, such as Richard Branson, Elon Musk, Ariana Huffington and Mark Zuckerberg.
One country that has produced some fantastic entrepreneurs is Canada. The country offers a supportive environment and culture for entrepreneurs. In fact, according to Canadian bank RBS, more and more young people are turning to entrepreneurship for career autonomy, which is understandable. Canada fosters innovation and celebrates entrepreneurial spirit, paving the way for a rich and diverse entrepreneurial scene. Whereas in Montreal and Halifax you might find socially conscious businesses, Vancouver and Toronto are homes to prosperous tech companies. Below is a look at some of the finest entrepreneurs to have come out of Canada.
Calvin Ayre
Casino gaming is popular in Canada and, according to data on the website of consumer and market data company Statista, revenue is projected to reach a market volume of $210.60 million by 2027. Online casino gaming is especially popular, thanks to promotions tailored for users of low deposit casinos and to other promotions and marketing strategies online casino operators employ to attract and retain players. Statista reports that revenue in the online casino market for Canada could hit as much as $2.31 billion in 2023.
Venturing into the casino gaming industry has helped to make Calvin Ayre very successful. The billionaire and venture capitalist was born in the 1960s on a farm in rural Canada but relocated from British Columbia to Vancouver shortly after graduating with an MBA, where he set up an office service company that offered Vancouver’s business community with its only high-speed connection. Exposure to digital startups encouraged him to build a business supplying tech to the growing online gaming industry. Eventually, he set up an internet gaming company of his own, Bodog. He later stepped down from his active role in the business but retained the rights to the Bodog brand.
Mike Scheinberg
Mark Scheinberg is another entrepreneur who has been able to explore casino gaming and prosper from it in business. When he was a teenager, he relocated from Israel to Toronto. In 2001, he co-founded the online gaming company PokerStars in 2001 with his father, Isa Scheinberg, who was a highly competent computer programmer. The site grew into one of the most popular in the world during Mark Scheinberg’s tenure as company CEO. According to Bloomberg, Mr Scheinberg enjoys wealth of $5.38 billion. He sold the company to Amaya Inc, who also bought PokerStars’ parent company, in 2014 for almost $5 billion in cash.
Eva Wong
Eva Wong is the cofounder and Chief Operating Officer (COO) of Borrowell, a Toronto-based fintech firm and platform that helps to educate Canadians so they can make good decisions about their credit health and achieve financial stability. Her company provides free credit scores, products that help people build credit and recommendations to help people prosper financially.
The company is one of the largest consumer fintech companies in Canada and has been named among the top 100 fintech companies in the world by KPMG. In Ontario, Eva herself was an EY Entrepreneur of the Year 2019 award winner.
Tara Bosch
Vancouver-born Tara Bosch is the founder of SmartSweets and dropped out of school to devote her time to the business at 22 years old. The regrets of her grandmother, who wished she hadn’t consumed so much sugar because of the impact on her body, set off a lightbulb in Tara’s head. Seeing a gap in the market, she created the Vancouver-based low sugar gummy and hard candy company. Four years later, the business was on track to make more than $125 million in annual sales. TPG Capital then acquired it for $360 million.
It could all have been very different though after | the business’s manufacturer pulled out. Tara had to raise capital from investors, but many weren’t liking the name, so she changed it from “Stevie Sweets,” named after the sugar substitute Stevia that the company was using, to “SmartSweets.” The changed turned out to be a blessing in disguise.
Tara came across a lot of doubters while trying to secure investment. Some were patronising and, despite the forecast and proven sales, not many believed in her idea. This made her put head down and let the results speak for themselves. It also served as a useful filter to avoid unsuitable partners and as part of the motivation for her next venture, the program Bold Beginnings.
All of the above have shown some fine entrepreneurial spirit. Others who have done Canada proud in the world of entrepreneurship include Mike Lazaridis, the late Samuel Bronfman and the late John Molson.
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