Canada is exceptionally entrepreneurial! It’s impossible to deny that small and medium businesses (SMB) are the lifeblood of the Canadian economy. With a little push to take their business online, small businesses could easily double their impact. We’re kicking off Canada’s Small Business Week with a statistical snapshot based on data from the Business Development Bank of Canada, along with data from other sources for comparison.
The top five most entrepreneurial provinces in Canada are:
- Ontario (35%)
- The Prairies (21%)
- Quebec (21%)
- British Columbia (16%)
- Atlantic Canada (7%)
Canada’s top entrepreneurial major centres in 2013 (according to the Canadian Federation of Independent Business):
- Greater Calgary
- Greater Toronto
- Greater Edmonton
- City of Edmonton
- St. John’s
The top five industries attracting new Canadian entrepreneurs are:
- Accommodation and Food Services
- Business Services
- Wholesale and Retail
- Healthcare and Social Assistance
According to a TNS Canada survey conducted for Scotia Bank this Fall, the top three reasons for starting a small business are:
- Jumping on an opportunity (24%)
- Pursuit of a lifelong dream to be their own boss (16%)
- Making a career/life change (15%)
The golden entrepreneurial age range is 25-40, and men are more likely than women to start a new business. British Columbians start the most new businesses. Immigrants are almost twice as likely to start a new business in Canada.
Canadian Small-Medium Business Statistics
- Small and medium businesses in Canada contribute more than half of this country’s gross domestic product.
- 98.2% of businesses in Canada have less than 100 employees. That’s over 1.1 Million businesses!
- 86% of exporting companies in Canada have less than 100 employees.
- 43,200 Canadians became self employed and hired employees in 2011 alone.
Imagine What We Could do if We Better Utilized Technology
- 18% of small-medium businesses in Canada sell online (Statistics Canada states 10% sold online last year). Those who don’t are missing out on a huge market, including 51% of Canadians who shop online (spending an estimated 21 Billion last year) and 80% who research online before buying. TD Bank reported recently that 65% of shoppers who want to support Canadian small businesses, are seeking the ability to make payments or shop online.
- 50% of Canadians with mobile phones are SmartPhone users. 89% of Canadian SmartPhone users have purchased something online in the past year, according to recent research from Leger and SAS Institute. Businesses that get online and are mobile-optimized have a significant advantage. They can grow from there to mobile commerce and omni-channel sales.
- 60% of Canadian small businesses plan to invest in technology. 83% of those that do invest in technology enjoy a positive return on the investment through increased competitiveness, higher efficiency and productivity gains.
We are so proud to be a part of Canada’s successful entrepreneurial scene. We ask that you please support Canadian small businesses and encourage others to do the same, which will ultimately guarantee Canada’s economic success and keep its citizens employed.
How are you celebrating Small Business Week?
Business Development Canada Infographic
Canadian Federation of Independent Business Communities in Boom 2013 Report: Canada’s Top Entrepreneurial Cities
Scotiabank – Products & Services
✔ You may also be interested in reading:
Canadian Consumers Seeking Small Businesses Online (Statistics)
7 Ways to Reach More of the 19 Million Canadian Facebook Users
Canadian Online Shopping and Digital Demands (2013 Statistics)
Digital Platforms Support the Canadian Economy (Infographic)
Canadian Digital Behaviour for Businesses (Statistics)
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