10 Things You Don't Know About Small Business in Canada

By: Updated: July 13, 2017


Here'a a quick list of interesting tidbits about small business in Canada.

 

 

 

  

1. Per population, Alberta has the highest number of small businesses

2. Only 14% of small businesses are owned by females

3. Small business accounts for about 40% of Canada's GDP

4. Nearly half of Canada’s work force is employed by small business

5. 75% of Canadian businesses have less than 5 employees

6. From 2002 to 2012, small business created 80% of all private jobs

7. Approximately 50% of small businesses will not survive their first 5 years

8. Most Canadian small businesses start with less than $5,000

9. 50 hours is the average work week for a small business owner in Canada. In contrast, employees average 37 hours.

10. In 2013, Canada ranked second in the world for starting a business

Did you know small business owners can deduct 100% of their personal medical expenses by using a Health Spending Account?

Download Beginner's HSA Guide for an incorporated individual

Write off 100% of your medical expenses

Are you an incorporated business owner with no employees? Learn how to use a Health Spending Account to pay for your medical expenses through your corporation: 

Download the HSA Guide for Incorporated Individuals

Do you own a corporation with employees? Discover a tax deductible health and dental plan that has no premiums:

Download the HSA Guide for a Business with Staff

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