This may come as no surprise, but we love Canadian entrepreneurship. We’ve compiled a list of cool facts about small business in our fair country.
Note: Check out an updated post with newer statistics here.
Did you know:
- Every year in Canada, an average of 130,000 new small businesses are created – but only 35% survive five years.
- Ninety-eight percent of Canadian businesses have fewer than 100 employees, 55% have fewer than four, and 75% of all businesses in the country have fewer than 10.
- There are over 900,000 female entrepreneurs in Canada, making up a larger share of the self-employed than in any other country.
- Over 40% of Canadians say that starting a company or being self-employed would be the most rewarding career path for them.
- The number of immigrants active in starting or running a company is some 60% higher compared to first- or second-generation Canadians.
- Small businesses account for between 60 and 80% of all jobs created in Canada.
- Almost 60% of all small business owners in Canada consider themselves “lifestyle entrepreneurs” who use their business as a means of generating income to support other commitments or lifestyle choices.
- Canadian small and medium enterprises invest in Research and Development (R&D) proportionally on a greater scale than big corporations.
- On average, small businesses with fewer than 100 employees contribute about 51% to Canada’s GDP.
- Studies show that entrepreneurs with education in entrepreneurship, or previous entrepreneurship experience, have an 80–90% chance of success with a new business.