eBook DOWNLOAD: The $5000 Question
With limited resources, Canadian small businesses are making their mark and forging ahead, often on nothing more than a shoestring budget.
More than half of all small businesses manage to get off the ground with less than $5,000. Sole proprietors are significantly more likely than those with one or more employees to start their business with less than $5,000.
These small businesses (those with fewer than 100 employees) constitute 98% of small businesses in Canada (2.4 million in total), employing 5.1 million of us. In fact, they’re responsible for a whopping 48% of the total private sector labour force. They created almost 600,000 jobs over the last decade, and more than 20,000 last year, despite ongoing global economic uncertainty.
In short, we all succeed when small businesses succeed. Small businesses have played a leading role in powering our economic engine out of the global economic recession,and they must continue to play a central role in our drive towards long-term economic stability.
We should all pause every once in a while to recognize these contributions, to celebrate our success stories, and reflect on what we can do to improve conditions for our small businesses.
Want more information? Check out the full report or come back Monday, when you’ll find out the biggest challenges and risky decisions facing small businesses.