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Small Business is The Backbone of Canada

SMALL BUSINESS IS THE BACKBONE CANADA A Look at Who Really Keeps the Canadian Economy Moving Small businesses are always mentioned as being incredibly important to the Canadian Economy, so we decided to look at the numbers. It turns out small businesses really are the most important part of the Canadian Economy. SME, HGF, WTF? What Do All These TLAS (Three Letter Acronyms) Stand for? An SME is a Small or Medium Enterprise, but how do we decide what is small, medium and large? SME SME Medium Small Business Business " 1-99 Paid 100-499 Employees Paid Employees Large Business Start-up A business that 500+ Paid is 2 years Employees old or younger High-growth Firms HGF A business with an average annualized growth rate of greater than 20%, over a three-year period, and with 10 or more employees at the beginning of the period How Many SMES? Number of Businesses in Canada: 1.17 MILLION 1,200.000 1.14 M 1,000,000 800,000 600,000 400,000 21,415 2,933 200,000 A whopping A further 1.8% of Meaning only 97.9% of these 0.3% are large these are medium are small business sized businesses enterprises Quebec 235,075 Ontario 407,175 More than half of Canada's small employer businesses are based in Ontario Quebec and How Many People Work for SMES? 11.6 MILLION PEOPLE are employed in the Canadian private sector 90.3% of these are employed by SMES In British Columbia Whereas in Ontario this shoots up to it falls down to 93.6% 87.3% What Do Small Businesses Do for Us? 1,000,000 small and There are over medium-sized businesses (SMES) in the country Only 1.6% of these are classified as medium sized This means that there are around 980,000 businesses in Canada with fewer than 100 employees And more than half of these businesses have fewer than 4 employees <4 Almost a fifth (18.8%) of SMES in Canada are involved in the trade and retail sector Almost 70% of private sector hires are made by SMES In fact, SMES created 100,000 jobs per year on average in Canada Only 25% of SMES invest in R&D But SMES contribute over 25% of all Canadian exports Brought to you by: CURECE

Small Business is The Backbone of Canada

shared by milkwhale on Nov 27
Small Business is The Backbone of Canada, a look at who really keeps the Canadian economy moving




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