Small Business Has a BIG Impact on the Canadian Economy

Many people are not aware of the big impact that small business has on the Canadian economy.   Unfortunately, the focus of the news and government is usually on the few large companies – automotive and financial of late.

The Government of Canada publishes a ton of data on small businesses.   Some key metrics from 2007 about small business in Canada include:

  • There are over 1 million small businesses in Canada
  • Small businesses that have fewer than 50 employees –  contribute 26 percent to Canada’s GDP
  • Small businesses employed approximately 5 million individuals – 48 percent of the total labor force in the private sector
  • Small businesses created 100,000 jobs  – accounting for over 40 percent of all jobs created in Canada

Good sources for information on small businesses in Canada, their characteristics and impact on Canada’s economy include the following:

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