Small business is playing an increasingly important and powerful role in today's economy. Per Stats Canada:
- There were 1.17 million employer businesses in Canada. Of these,
- 1.14 million (97.9 percent) businesses were small businesses,
- 21,415 (1.8 percent) were medium-sized businesses and
- 2,933 (0.3 percent) were large enterprises.
Some facts about Small Business:
- Nearly 70 percent of Canada’s total private labor force are people who work for small businesses.
- For much of the past decade, small business employers created 77.7 percent of all private jobs.
- Ontario and Quebec are home to 57 percent of all Canadian businesses, while the Western provinces account for 36 percent. The Northern regions account for 0.3 percent of the country’s employer businesses.
- Little more than half of the small businesses survive past their fifth year.
- Small businesses contribute about 30 percent to Canada’s total GDP.
- Approximately 19 percent of immigrants are self-employed, compared to 15 percent of those born in Canada.
- The average self-employed Canadian works 50 hours a week, compared to 37 hours a week for average full-time employees.
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