Understanding entrepreneurship - Describe the role of small and new businesses in the Canadian economy
3 important questions on Understanding entrepreneurship - Describe the role of small and new businesses in the Canadian economy
Major role of small and new businesses
New firms create the most jobs, are noted for their entrepreneurship, and are typically small. Start ups are accounting for most of the growth.
Are there many small businesses in Canada?
Yes, 98% of employer business in Canada are small and the majority of those have fewer than 5 employees.
Is distribution of employment equal among industries?
No, small businesses account for over 2/3 of employment in five industries:
- non-institutional health care
- forestry
- other services
- construction industry
- accommodation and food
In another 5 industries, at least half of the workforce is employed by small businesses.
- non-institutional health care
- forestry
- other services
- construction industry
- accommodation and food
In another 5 industries, at least half of the workforce is employed by small businesses.
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