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The survey was conducted in August and September 2009. The questions focused on financing sought by small enterprises (1 to 100 employees) since August 2008. The answers refer to the 13-month period between August 2008 and September 2009.
A total of 3,200 small businesses completed the questionnaire which included 25 questions. This is the second largest Canadian survey on small business financing. The margin of error is 1.8%, 19 times out of 20 for questions addressed to all respondents. Leger Marketing administered the survey, which was largely based on Statistics Canada's triennial Survey on Financing of Small and Medium Enterprises. You can view the Survey Questionnaire.
The following tables present the key statistics from this survey.
Financing Type | Request Rate | Approval Rate Note * referrer of Table 1 | Average Amount Authorized Note ** referrer of Table 1 |
---|---|---|---|
Note * of Table 1: A request that received either full approval or partial approval was considered "approved". Note ** of Table 1: Approved amounts were calculated using categorical answers in conjunction with adjusted mean or median values based on Statistics Canada's Survey on Financing of Small and Medium Enterprises 2007 data. | |||
All Types | 16.1% | 80% | $265,234 |
Debt Financing | 14.0% | 79% | $238,468 |
Leasing | 1.0% | 76% | $181,518 |
Equity Financing | 1.3% | 85% | $251,231 |
Trade Credit | 1.2% | 82% | $64,836 |
Financing Type | Share |
---|---|
Note * of Table 2: Includes financing from government institutions (e.g., no interest loans) | |
Debt Financing | 79% |
Leasing | 4% |
Equity Financing | 7% |
Trade Credit | 2% |
Other Note * referrer of Table 2 | 8% |
Type of Debt Financing | Request Rate | Approval Rate | Average Interest Rate Note *** referrer of Table 3 | % Collateral Required Note *** referrer of Table 3 | Average Amount Authorized |
---|---|---|---|---|---|
Note * of Table 3: Mortgages and term loans. Note ** of Table 3: Lines of credit and credit cards. Note *** of Table 3: Interest rates and collateral requirements are the weighted averages of related sub-categories. | |||||
Long Term Note * referrer of Table 3 | 8% | 78% | 5.5% | 67% | $249,360 |
Short Term Note ** referrer of Table 3 | 9% | 78% | 6.9% | 47% | $162,461 |
Total | 14% | 79% | 6.2% | 56% | $238,468 |
Number of Employees | Request Rate | Approval Rate | Average Amount Authorized |
---|---|---|---|
Note * of Table 4: Primary includes the following: agriculture and fishing, forestry, and oil and mining. | |||
1 to 4 | 10% | 70% | $102,373 |
5 to 9 | 16% | 89% | $157,607 |
10 to 19 | 19% | 85% | $324,016 |
20 to 100 | 27% | 79% | $571,423 |
Region | |||
Atlantic | 11% | 99% | $189,556 |
Quebec | 16% | 79% | $173,621 |
Ontario | 15% | 77% | $268,272 |
Manitoba-Saskatchewan | 13% | 87% | $340,237 |
Alberta | 16% | 71% | $292,454 |
British Columbia | 12% | 81% | $206,119 |
Industry | |||
Accommodation and Food | 16% | 81% | $173,919 |
Construction | 13% | 99% | $412,940 |
Manufacturing | 24% | 87% | $202,527 |
Primary Note * referrer of Table 4 | 27% | 86% | $401,380 |
Professional Services | 9% | 76% | $200,379 |
Transportation/Warehousing | 20% | 79% | $313,851 |
Wholesale and Retail | 15% | 70% | $151,986 |
Age of Business | |||
3 years old or younger | 30% | 44% | $115,898 |
4 to 10 years old | 17% | 85% | $202,153 |
More than 10 years old | 12% | 82% | $275,702 |
Exportation | |||
Exporter | 18% | 84% | $281,103 |
Non-Exporter | 14% | 78% | $221,286 |
Region | |||
Rural | 17% | 93% | $237,607 |
Urban | 14% | 75% | $238,735 |
Intended Use | % Firms That Sought Debt Financing |
---|---|
Note * of Table 5: The sum of the percentages will not equal 100% since firms often provided multiple answers. Note ** of Table 5: Land, Vehicles, Computer Hardware/Software, Other Machinery. | |
Land and Buildings | 22% |
Vehicles/Rolling Stock | 15% |
Computer Hardware/Software | 6% |
Other Machinery/Equipment | 19% |
Fixed Assets Note ** referrer of Table 5 | 49% |
Working/Operating Capital | 56% |
Research & Development | 3% |
Debt Consolidations | 10% |
Refinancing Maturing Debt | 6% |
Intangibles (e.g., training, goodwill) | 4% |
Purchasing a Business | 3% |
Region | % Firms That Re-Invested |
---|---|
Note * of Table 6: Primary includes the following: agriculture and fishing, forestry, and oil and mining. | |
Atlantic | 60% |
Quebec | 39% |
Ontario | 48% |
Manitoba-Saskatchewan | 59% |
Alberta | 47% |
British Columbia | 53% |
Industry | |
Accommodation and Food | 48% |
Construction | 46% |
Manufacturing | 53% |
Primary Note * referrer of Table 6 | 57% |
Professional Services | 43% |
Transportation/Warehousing | 50% |
Wholesale and Retail | 49% |