10 Surprising Facts about Small Businesses in Canada

Small Businesses make up the majority of businesses in Canada. In fact, 98.2% of all businesses in Canada are considered small businesses because they have fewer than 100 employees!  As the Global Entrepreneurship Week draws to a close, here are 10 more surprising facts about Small Businesses in Canada that you should know:

  1.  There are almost 1.1 million small businesses (SMEs) in Canada
  2. Only 1.6% of businesses are considered medium-sized businesses
  3. More than half of these have fewer than 4 employees
  4. Small businesses employ almost 69.7% of workers in the private sector in 2012, or almost 7.7 million people across the country
  5. From 2002 to 2012, small businesses were responsible for 77.7% of all jobs created in the private sector!
  6. Small businesses represent 54.2% of all economic output produced by the business sector in 2015
  7. 90% of exporting companies have fewer than 100 employees but they make up 25% of the total value of Canadian exports
  8. The largest number of Small Businesses are in the wholesale trade and retail sector
  9. Small businesses created around 100,000 jobs on average each year from 2002 to 2012
  10. Only half of new businesses survive their fifth year of operation

Whether you want to start your own business, work in a medium sized enterprise or a multi-national, a foundation in business principles is key to your career.  Check out these business diploma programs that may be of interest to you as you ascend the corporate ladder:

Accounting & Payroll Administrator
Accounting Specialist
Business Administration Management
Logistics & Supply Chain Management
Small Business Management