The Role of Small Businesses in Canada

Entrepreneurship and Starting a Small Business ⸻ 1.

Small Business and Its Importance to the Canadian Economy Definition of a Small Business

A small business is a company that is independently owned and operated, usually with fewer

than 100 employees (for goods-producing) or fewer than 50 employees (for service-based businesses).

⸻ Importance to the Canadian Economy • Creates jobs: Small businesses

employ millions of Canadians. • Encourages innovation: Small businesses bring new ideas

and products to the market. • Supports local communities: They keep money circulating

within towns and cities. • Adds competition: Keeps prices fair and drives larger