While stories about new businesses seem to be dominated by Gen Z or Millennials, often with an innovative new app or subscription service, many older Canadians are starting new ventures too.

Four in ten respondents to a new survey from small business management platform Ownr said they started their business when they were 45 or older. Across all age groups, only around half of new business owners have any formal business education and 80% said they bootstrapped their business.

The research also found that despite cash flow concerns, which have also been cited in other recent polls, optimism among Canada’s small business owners is rising with around half saying that they are more confident in achieving their business plans than they were six months ago.