Sidebar 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 and earlier Fast facts There are 1.21 million SMEs in Canada that have employees. Source: Key Small Business Statistics 98% of businesses in Canada have fewer than 100 employees. Source: Key Small Business Statistics Between 2015 and 2019, on average, 101,324 businesses were created every year and 90,151 disappeared. Source: Key Small Business Statistics Private sector SMEs employ over 10 million people in Canada. Source: Key Small Business Statistics 21% of SMEs operate in goods-producing industries and 79% of SMEs operate in service industries. Source: Key Small Business Statistics SMEs were responsible for $246 billion (43%) of Canada's total value of goods exports in 2021. Source: Key Small Business Statistics 3.4% of firms with 10 employees or more were high-growth firms in 2019. Source: Key Small Business Statistics SMEs contributed 50% of Canada's GDP in 2019. Source: Key Small Business Statistics 12.1% of SMEs exported goods and services in 2020. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises The likelihood of exporting increases with business size. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises The primary decision maker of 47% of SMEs is between 50 and 64 years old. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 16.8% of SMEs were majority-women owned in 2020. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 25% of SMEs are operated by individuals with a bachelor's degree, while 15% are operated by individuals with a master's degree or above. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 28% of SMEs innovated between 2018 and 2020. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 16% of SMEs held intellectual property in 2020. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 82% of SMEs requested external financing in 2020. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 92% of the amount of debt financing requested by SMEs was authorized. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises 2% of SMEs imported services from outside Canada. Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises
