The State of Entrepreneurship in Canada

Published: Apr 7, 2010
Last Updated: Jun 8, 2017

Are you are interested in learning more about the characteristics of Canadian entrepreneurs including those that are self employed, managing micro businesses (1-4 employees) or small businesses (5-100 employees)?

If so, check a report published by Industry Canada titled "The State of Entrepreneurship in Canada" (February 2010) because it details how business ownership is changing among Canadians.

Some Highights Of This Report Include:
  • Over the ten-year period from 1997 to 2007, Canadian business owners have higher education levels.
  • Over the period 2004 to 2007, aboriginal persons, people from visible minorities and recent immigrants have become the majority owners of a larger proportion of Canadian SMEs.
  • Canadian SME owners with larger businesses tend to be wealthier.
  • Three-quarters of Canadian SME owners started their business from scratch, rather than acquiring it from a family member or from someone outside their family
  • Approximately 85 percent of manufacturing firms in Canada and the U.S. survived through their first year.
  • The survival rate of Canadian service firms (85 percent) is higher than that for service firms in the U.S. (78 percent).

Read the entire report here.

PHOTO CREDIT: Photo O Canada created by jurveston on Sept 9, 2006, available under a Creative Commons Attribution license. Last viewed on Nov 10, 2010.

 

 

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