Certified Business
Canadian Owned
With over 10,000 orders
Small businesses in Canada are the backbone of the nation's economy and job growth
Small businesses in Canada play a significant role in the economy by creating jobs, driving innovation, and supporting community growth. Here is a closer look at how they help Canadian workers:
In Canada, small enterprises hire many people. In 2023, 86.7% of all employer enterprises had between 1 and 19 employees. These businesses employed 5.2 million people, or 29.8% of the entire employed population. Also, companies with 20 to 99 employees hired 5.7 million people, or 32.5% of the workforce. This figure means that small businesses in Canada employ almost two-thirds of all Canadians, highlighting how important they are for creating jobs across the country.
Innovation and Entrepreneurship
Small firms are generally the first to come up with new ideas. They help the economy grow and make it more competitive by bringing new ideas, goods, and services to the market. Small business owners have an entrepreneurial mentality that encourages creativity and problem-solving, which can lead to big improvements in many fields. This revolutionary idea not only helps customers, but it also opens up new job and career options for Canadians.
Small businesses in Canada help make communities more lively and strong. They often contribute to community projects, sponsor sports teams, and support local events, helping people feel more connected and involved. Additionally, small businesses are more likely to purchase goods and services from other local small businesses, which boosts both those businesses and the overall economy.
Opportunities for Diverse Workforce
Small firms can hire a wide range of people, such as women, foreigners, and young people. They are more likely to hire people from different backgrounds and offer flexible working circumstances. This openness serves to make the workforce more diverse and dynamic, which can lead to better decisions and new ideas.
Adaptability and Resilience
People recognize that small businesses in Canada are both flexible and resilient. These businesses can quickly adapt to changes in the economy and market, which is especially important during uncertain times. Their ability to stay agile allows them to continue providing jobs and services even during economic downturns or global crises like a pandemic.
Economic Contribution
Small businesses make a big difference in the economy. In 2022, small businesses with 1 to 99 employees made up 98.0% of all employer enterprises in Canada. Small businesses in Canada also hired 10.7 million people, which is almost two-thirds (63.0%) of all employees. They don't just create jobs; they also make significant contributions to the country's gross domestic product (GDP) and play a vital role in Canada's overall economic health.
Small businesses are crucial to both the Canadian economy and the job market. Their efforts go beyond creating jobs; they also encourage new ideas, help communities grow, and make it possible for a varied and welcoming workforce. So, it's very important for the economy of Canada to keep growing and doing well, and that people support small businesses in Canada like Height Works Ltd.