How a universal basic income could jump-start Canadian entrepreneurship after COVID-19

Unleashing entrepreneurial potential

Why It Matters

Canadians are facing massive economic setbacks in the wake of COVID-19. For a country that was already seeing declining rates of entrepreneurship, our entrepreneurial ecosystem is threatened. Venture for Canada’s CEO argues that introducing a universal basic income could solve the problem.

What do Milton Friedman, Elon Musk, Martin Luther King Jr., Robin Chase, and Noam Chomsky all have in common? They all are supporters of providing a universal basic income (UBI), which is defined as “a periodic cash payment delivered to all on an individual basis without means test or work requirement.” 

Providing everyone a basic income garners support from across the political spectrum, as people support UBI for very different reasons. Advocates for the policy argue that UBI could be the most effective way to fight poverty and advance gender equality — two key areas of focus for the social impact sector in a post-pandemic world — and support workers whose jobs are at risk of automation, or layoffs in the wake of COVID-
