Celebrating Small Business in Canada

stephen2By Stephen Rhodes

Most of us know that small business in Canada is the economic driver. This is small business week so I thought I would share some of the statistics gathered by Industry Canada.

Number of BusinessesSmall biz stat
As of 2012, there were just over 1.08 million small businesses in Canada that had employees (excludes self-employed entrepreneurs and indeterminate businesses). Ninety-eight percent of businesses in Canada have 1 to 99 employees.
Taking into account entries and exits, the net increase in the number of small businesses was almost 22,000 over the 2008–2009 period.

Employment
As of 2012, small businesses employed over 7.7 million individuals in Canada, or 69.7 percent of the total private labour force. Small businesses created a little over 100,000 jobs, on average, between 2002 and 2012, accounting for almost 78 percent of all private jobs created on average.

Survival
Survival rates for small and medium-sized enterprises in Canada decline with time. About 80 percent of enterprises that entered the marketplace in 2008 survived for one full year and 72 percent of enterprises that entered the marketplace in 2007 survived for two years. The number of business bankruptcies in Canada fell by 56 percent between 2000 and 2010 to about 3,200 in 2012.

Growth
High-growth firms are present in every economic sector and are not just concentrated in knowledge-based industries. In terms of employment, the highest concentrations of high-growth firms in Canada during the 2006–2009 period were in construction (4.9 percent of all firms); business, building and other support services (4.6 percent); and professional, scientific and technical services (4.5 percent).
Over 50 percent of firms in both the manufacturing and service-producing sectors expect to grow between one and ten percent from 2012 to 2014.

Visit  the Brampton Entrepreneur Centre and The Brampton Board of Trade. Both have activities planned through to the end of the month.

 

Advertisements

Leave a comment

Filed under Small Business

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s