Millennial small business owners in Canada tend to overestimate their financial literacy
Summary
Business owners may be leaving money on the table, especially since 24% of respondents in the survey said they would rather get a root canal than organize and file their taxes. Other notable findings from the survey include: • High degrees of financial trust in social media : Across generations, millennials (40%) were more likely to trust social media platforms, including Facebook, Instagram and TikTok, as sources of information for their business financials. • Demonstrate value: Many small business owners are used to taking a ‘do it yourself’ approach, but embracing a ‘do it together’ mindset and partnering with a trusted advisor can help them gain a competitive edge. Being a true partner and engaging with clients from the start can form the core of a strong relationship between business owner and advisor. The margin of error – which measures sample variability – is +/- 3.5 percentage points, nineteen times out of twenty.
Classifications
AskAI Classifications
LabelsLinked Companies
