Tag Archives: Small business

BEC a business workhorse

stephen2By Stephen Rhodes
During small business week, it’s fitting that I highlight the work of the  Brampton Entrepreneur Centre  (BEC), formerly the Small Business Enterprise Centre.

From the horses mouth, so to speak, BEC is dedicated to helping small business owners and entrepreneurs  succeed in today’s ever-changing business market. Whether you’re thinking about opening a business, formulating your business plan or undergoing change in an established business BEC has the expertise to help. Most of the services are free, and the rest are offered at a nominal fee.

BECBrampton BEC is part of Brampton’s Economic Development Office (EDO) – a “one-stop shop” for business development information.  Find out more about the Brampton EDO by clicking here.

 BEC is also a member of the ONE Network (www.ONEbusiness.ca), which brings together Ontario’s 57 Small Business Enterprise Centres (SBECs), 17 Regional Innovation Centres (RICs) and Ontario Business Advisory Services (BAS) staff under one brand.  Through the integrated framework, SBECs, RICs and BAS organizations  provide high quality business support services, while the Network collectively assists Ontario’s entrepreneurial community.
Brampton BEC is also a federal partner with Canada Business, a division of Industry Canada.  Visit www.canadabusiness.ca and www.cbo-eco.ca for a wealth of business information.
BEC offers a range of free services including:
  •  Guidance on business start-up steps
  • Guidance on permits, regulations and other start-up requirements
  • Start Smart program
  • Leading-edge information, resources and templates
  • Workshops and seminars (free and low-cost)
  • Individual, private consultations
  • Business plan reviews
  • Referral services
  • Strengthen and Succeed seminar series
  • Counsel on growth and change issues
  • Professional development and networking opportunities

Check them out. Brampton BEC

Advertisements

Leave a comment

Filed under Small Business

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.

 

Leave a comment

Filed under Small Business

Small Business contributes 28% to GDP

By Jeff BowmanJBMG_5500a

No matter what size of business you operate, have you ever stopped to think about the importance to the overall economy of what your business contributes? As business owners, our focus is usually on the bottom line, as well it should be, however the statistics show that small business contributes about 28% on average to the total GDP in Canada.

GDP by definition is the total market value of all final goods and services produced in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. A somewhat confusing equation, however the basic premise is to build on the GDP each quarter, which shows growth. (GDP rose .40% in the second quarter of 2013 over the previous quarter.)

Small business owners work very long hours, endure tremendous stress, need to be conversant in all areas of their business, and often encounter tremendous obstacles to growth. Owning a small business is not for the faint of heart! The upside is that small business owners, the employees they hire, the products and services they produce and sell, are critical pieces of our economic growth.  The largest contributing sectors are agriculture, health, education, construction, and hospitality; however the contribution that every small business in any sector adds to the overall growth is very important. No wonder we celebrated Small Business month in October!

Table 8: Small Businesses’ Contribution to GDP by Province, 2002 to 2011
Province Contribution to GDP (Percent)
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Newfoundland and Labrador 19 18 21 19 19 18 18 20 19 20
Prince Edward Island 32 29 31 30 30 29 29 29 26 32
Nova Scotia 26 25 26 25 25 26 25 25 24 23
New Brunswick 25 23 25 25 24 25 25 24 23 22
Quebec 27 27 29 30 30 30 31 30 28 27
Ontario 24 23 24 25 26 26 27 26 25 25
Manitoba 23 24 25 25 26 26 26 26 24 24
Saskatchewan 26 24 29 29 30 32 33 35 30 32
Alberta 28 26 26 27 29 31 31 29 27 27
British Columbia 28 29 33 33 33 34 34 32 30 29
Canada 26 25 27 28 28 29 29 28 27 27
Source: British Columbia’s Statistical Service, Small Business Profile 2012: British Columbia.
Note 1: In these data, small businesses comprise businesses with fewer than 50 employees, plus those operated by the self-employed with no paid employees.
Note 2: Differences between these data and those published in previous versions of Key Small Business Statistics reflect changes to the underlying data on which the numbers are based, as well as a refinement of the methodology used to generate the estimates.

http://www.ic.gc.ca/eic/site/061.nsf/eng/02812.html

Leave a comment

Filed under Small Business