Canadian Small Business Month Celebration

October marks the beginning of Small Business Month in Canada. The Business Development Bank of Canada (BDC) has led an initiative called Small Business Week, which has turned into a month-long celebration where entrepreneurs and small businesses are recognized for the important role they play in our economy and in our community.

What Is SBW – Small Business Week?

41 years ago, the BDC organized its first Small Business Week as a local event in British Columbia’s Lower Fraser Valley, where BDC business centres pooled their resources to organize a week of activities for entrepreneurs. For two years the local events were so successful that in 1981 Small Business Week went national, with events across Canada. Small Business Week this year will be taking place October 17-23.

In the last few years, close to 10,000 entrepreneurs gather to learn, network and celebrate the people building businesses across the country. This year in particular is special as it brings to light the resilience and adaptability of small business owners in Canada. 

Small Businesses in Canada and their importance

According to the Government of Canada (Ownership demographics statistics 2022) Small and medium-sized enterprises (SMEs) are vital to the growth of the Canadian economy. As of December 2020, there were 1.22 million employer businesses in Canada with SMEs accounting for 99.8% of these businesses. In 2020, SMEs employed 88.3 percent of the private sector labour force and, between 2019 and 2020, were responsible for 92.1 percent of the net employment change in the private sector. In 2020, SMEs contributed 43.0 percent of the total value of exported goods in Canada (KSBS 2021)

Dataoptin has long recognized the importance of small businesses and has ensured that our products and services are adapted to the daily realities of small business owners. To do this, we have focused on simplifying complex tasks for our clients . Above all, we are focused on providing the tools small businesses need to continue to adapt and grow, as we look forward to helping YOU grow your business.

For more resources and tools for SMEs feel free to check out our past blog post celebrating small business month 

By Diana Gonzalez

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