How are Canadian small businesses doing? Here are six facts about the state of Canadian entrepreneurship:
- On average, 150,000 new small businesses are created in Canada each year, but only 51% of new businesses survive five years.
- 98% of businesses in Canada with employees have fewer than 100 of them, 55% have fewer than five employees and 75% of all businesses in Canada have fewer than 10 employees.
- There are 950,000 self-employed women in Canada, one third of all self-employed people in the country.
- Entrepreneurship is the number one choice for Canadians who want more out of their careers. One third of Canadians (32%) like the idea of being their own boss, and one fifth (20%) want to start their own business within five years.
- By the end of the 2000s, approximately 19% of immigrants were self-employed, compared with 15% of those born in Canada.
- Small businesses account for 77% of all private jobs created in Canada.