Today is the 150th Anniversary of Canada. (July 1, 2017). Here are key statistics that demonstrate the vital role small businesses play in the economy of the nation. These statistics are provided in the document, Key Small Business Statistics, 2016, an annual report from the Innovation, Science and Economic Development Canada (ISED).

The ISED defines a business based upon the number of paid employees. For this reason, self-employed businesses are generally not included in the following statistics as they do not have paid employees. In Canada, the term business refers to companies that fall into three categories:

1-100 paid employees | Small Business
100 to 499 paid employees | Medium Sized Businesses
500 or more paid employees | Large Businesses

(Note: For similar statistics and definitions related to U.S. small businesses (there is no official category in the U.S. called “medium sized”), visit SmallBusiness.com’s “Answers to 20 of the Most Frequently Asked Questions About U.S. Small Business | 2016“)

Small businesses along a street in Montreal.

Number of Small Businesses in Canada

1.17 million | Total employer businesses
1.14 million (97.9%) | Small businesses
21,415 (1.8%) | Medium sized businesses
2,933 (.03%) | Large businesses

Employees of Canadian Small Businesses

8.2 million (70.5%) | Canadians employed by small businesses
2.3 million (19.8%) | Canadians employed by medium sized businesses
1.1 million (9.7% | Canadians employed by medium sized businesses

Women-owned Canadian Small and Medium Sized Businesses

15.7% | Percentage of small and medium-sized business owned by women
19.7% | Percentage of small and medium-sized business owned equally by women and men

Canadian Small Business Financing

51.3% | Small and medium sized businesses seeking external financing
48.7% | Small and medium sized businesses seeking external financing
>80% | Percent of start-ups using personal financing to open a new business

Canadian Small Business Exports (2013 data)

$420 billion | Exported Canadian goods
$106 billion (25.2%) | Exported by small and medium businesses
73,000 (11.8%) | Number of small/medium businesses that exported Canadian goods

For the complete collection of statistical data related to small and medium businesses in Canada, see: Key Small Business Statistics – June 2016

Photo: Small businesses along a street in Montreal | instock