Canadian small businesses creating jobs

When people enter the workforce when they get out of high school or college, options often seem limited to a few different sectors from food service to retail. A lot of the time, these aren’t what some are looking for at the end of the day.

However, people today have numerous options for furthering their ultimate career goals. For many, being employed at a small business might be the perfect idea. There are so many different opportunities out there in various fields, and this can be a great place to make networking connections and hone skills.

Luckily, Canada is ripe with these options. Small and medium-size businesses (SMBs) have quickly become some of the largest job creators in the nation.

The numbers don’t lie

According to Statistics Canada’s most recent Survey of Employment, Payrolls and Hours, between 2001 and 2011, SMBs caused 53.9 per cent of all job growth in Canada. While there was decreased job creation during the Great Recession, job creation has been steadily on the rise since 2009. For instance, while 2010 saw more than 15,000 new positions, 2011 figures skyrocketed to more than 80,000 jobs created, more than half of which were created in the last quarter alone.

This means that experts can assume that this has become a trend, especially since the economy continued to see gains last year. This means that it’s highly likely that jobs growth was again significant in 2012.

Much of this growth can be attributed to the fact that Canada is a great location for new SMBs to start off. The Canadian Association of Business Incubation pointed out that every year in Canada, an average of 130,000 new SMBs start their life cycles.

Bigger companies

Moreover, SMBs keep a lot of large businesses afloat. For instance, they often employ secretarial, marketing, and cleaning services. So, without the patronage of these startups, these types of jobs would likely disappear. The opposite is also true—the bigger the demand, the more positions here as well. Thus, SMBs also have a link to the creation of positions in larger firms of all kinds.

To make sure your business has the tools it needs to succeed well into the future, try Sage 50 Accounting free today for 30 days! We offer proven, easy-to-use accounting and business management software that provides you with the tools you need to manage your financial transactions and streamline operations.

Sources:
http://www.ic.gc.ca/eic/site/061.nsf/eng/02720.html
http://www.cabi.ca/industry-canada.php

Nexus: WEBCD4