Hey small biz owners! Did you know that you are one of 1.2 million small businesses in Canada?
October is Small Business Month in Canada, a celebration highlighting entrepreneurs, their companies and the positive impact businesses like yours have on the country.
According to Industry Canada, a small business is a firm with fewer than 100 employees. As of December 2012, there were 1.2 million small businesses in Canada, which drive growth, create jobs, sustain markets and build the economy.
The rise of small businesses in Canada has quite the effect on the number of jobs in the country. Industry Canada reported 100,000 new businesses were developed each year between 2002 and 2008. The growth in these companies created 77.7 percent of all private-sector jobs between 2002 and 2012. Small businesses account for a large chunk of Canada’s workforce. In fact, 5.1 million people, nearly 50 percent of the country’s employable citizens, work for small businesses, according to Startup Canada. While many of these established companies have had an effect on Canada’s workforce, so have startups.
Startup entrepreneurs forge their own path
Taking a look at some statistics, it’s easy to see that new small businesses are succeeding in Canada. According to the 2015 “State of the Startup” survey by Sage, startups are usually created by a single founder and only have five employees or fewer upon their initiation. About 80 percent of these entrepreneurs were first-timers, meaning they had no prior experience in the field. While 41 percent of business owners said creating their enterprise was somewhat or extremely difficult, these entrepreneurs also decided to handle some business responsibilities on their own. More than half did not create a business plan and 68 percent funded their startup with no outside investors. With the rise of small businesses in Canada, it’s important to ask:
What were your reasons for starting your small business?
It’s not easy to be an entrepreneur that’s for sure, but there must be good reasons why you started your small business. For me it’s mostly down to #3.
[Tweet “I started my small business for time/freedom for my family. You? #SmBiz #SMB2015 @Sage50”]
- You want to lead your business every step of the way
- Time freedom means more flexibility for family obligations
- Creating your own schedule means more to you than a steady pay cheque
- Your business gives you control over your finances
- You want to create a more personal company experience for your customers
- You love the sense of accomplishment
- Your passion cannot be contained in the guise of being an employee so you went it alone!
I’m sure there are many more reasons that I’ve not come up with. What are some of yours?
Did you know that Canada ranks in the top 10 countries to start a business?
Forbes (Dec 2014) found Canada to be in the top ten countries to start a business, coming in at No. 6 behind Denmark, Hong Kong and Ireland, among others. But that ranking isn’t the only reason to begin an endeavor in the country. Along with a large pool of skilled workers, Canada also offers lower business costs than countries like the U.S., according to KPMG. Additionally, due to the North American Free Trade Agreement, Canada has access to business with both Mexico and the United States.
Sage understands that one size doesn’t fit all when it comes to small businesses. A champion of small business and provider of the No.1 accounting software in Canada1,
With Sage 50 you decide how to manage your business accounting and bookkeeping tasks with a solution that gives you an awesome amount of freedom and flexibility to manage expenses, create invoices, track inventory and stay on top of your financials. Maintain full control of your data on the desktop while managing invoicing, banking and expenses from your mobile device. Collaborate with your accountant or bookkeeper online and do it all on your terms with one complete solution.
- Full accounting solution including advanced features like inventory and projects
- Mobile task management of invoicing and payments
- Cloud data access to collaborate with your accountant or bookkeeper
- Includes unlimited customer support
Enter the Contest Today
Enter NOW for a chance to win Sage 50 Pro Accounting 2016, a $250 value! Sage 50 Pro Accounting has been made in Canada, for Canadians, by Canadians for 30 years. you can also purchase Sage 50 on Amazon.ca.
- Based on independent surveys of 279 Canadian small businesses (conducted 2/13) and 407 Canadian accountants who work with small business clients (conducted 9/14).
The contest runs from today, Thursday October 1st – Saturday October 31st and is open to all Canadian residents over the age of minority, excluding Quebec.
The prize package is valued at $250 CDN. The winner will be randomly selected on Monday, November 2, and the email announcement will go out on Tuesday, November 3, 2015.
Disclaimer: I was compensated for this post but as usual the opinions are my own. This post contains affiliate links.