2021

Key Small Business Statistics 2021
Key Small Business Statistics 2021
2021-12-22

Key Small Business Statistics provides statistical data on the business sector in Canada, focusing on small and medium-sized enterprises (SMEs). The data are, at the time of publication, the most up-to-date statistics available to Innovation, Science and Economic Development Canada.

Biannual Survey of Suppliers of Business Financing — Data analysis, first half 2021
Biannual Survey of Suppliers of Business Financing — Data analysis, first half 2021
2021-12-10

This document presents data on business lending activities gathered from the Statistics Canada Biannual Survey of Suppliers of Business Financing, the Bank of Canada Senior Loan Officer Survey and Business Outlook Survey, and the PayNet Canadian Business Lending Index.

Biannual Survey of Suppliers of Business Financing — Data analysis, second half 2020
Biannual Survey of Suppliers of Business Financing — Data analysis, second half 2020
2021-06-15

This document presents data on business lending activities gathered from the Statistics Canada Biannual Survey of Suppliers of Business Financing, the Bank of Canada Senior Loan Officer Survey and Business Outlook Survey, and the PayNet Canadian Business Lending Index.

Financing of women-owned small and medium-sized enterprises in Canada
Financing of women-owned small and medium-sized enterprises in Canada
2021-05-17

This report uses data from the 2017 Survey on Financing and Growth of Small and Medium Enterprises to study firm financing outcomes of women-owned small and medium-sized enterprises (SMEs). In particular, it examines whether, adjusting for firm and primary decision maker characteristics, there are gender differences associated with access to financing, debt financing approval and interest rates charged on debt financing.

Cover of report: Entrepreneurship in rural Canada: Necessity or opportunity driven?
Entrepreneurship in rural Canada: Necessity or opportunity driven?
2021-04-01

This study aims to provide new insights into factors contributing to nascent entrepreneurship in rural Canada and analyze whether the motivation to become a nascent entrepreneur in rural Canada is driven by opportunity or necessity.

Cover of report: Canadian Start-ups: Growth and Scale-up Transitions
Canadian Start-ups: Growth and Scale-up Transitions
2021-02-10

This study presents a description of Canadian firm size transitions of start-ups by examining five cohorts of firm entrants during the period 2002 to 2006. The study used  the National Accounts Longitudinal Microdata File (NALMF) up to 2014 in order to observe those start-ups employment size transitions (scale ups and scale downs).

Cover of report: Access to capital for Canadian growth-oriented, medium-sized firms
Access to capital for Canadian growth-oriented, medium-sized firms
2021-02-03

Informed by extensive interviews conducted with capital providers and corporate executives the following paper captures stakeholder insights into the state of Canada's growth and transition capital markets, including: challenges inhibiting the availability of growth capital for medium-sized firms; common misperceptions concerning Canada's growth capital and alternative risk financing markets; and the continued role of the BDC in this rapidly evolving market

Fast facts

In 2022, there are 1.22 million SMEs in Canada that have employees.
Source: Key Small Business Statistics

97.8% of businesses in Canada have fewer than 100 employees.
Source: Key Small Business Statistics

Between 2016 and 2020, on average, 101,921 businesses were created every year and 96,548  disappeared.
Source: Key Small Business Statistics

In 2022, private sector SMEs employ around 8 million people in Canada.
Source: Key Small Business Statistics

22% of SMEs operate in goods-producing industries and 78% of SMEs operate in service industries.
Source: Key Small Business Statistics

SMEs were responsible for $293 billion (40.8%) of Canada's total value of goods exports in 2022.
Source: Key Small Business Statistics

2.6% of firms with 10 employees or more were high-growth firms in 2020.
Source: Key Small Business Statistics

SMEs contributed 49% of Canada's GDP in 2020.
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