SMALL BUSINESS THE BACKBONE OF THE CANADIAN ECONOMY There are more than 1 million small businesses that employ 48 percent of Canada’s total workforce, account for 25 percent of total exports, and provide 30 percent of our total GDP. Of those small businesses, 4.7 percent are classified as high-growth enterprises and are responsible for 45 percent of new jobs created in Canada. Entrepreneurship is a powerful force for driving job creation, innovation, economic growth, and fueling healthy and sustainable communities. Governments around the world are responding to shifts in global markets by strengthening the domestic climate for entrepreneurs as a way to ensure economic growth and prosperity.

THE FACTS & STATS 70% of small businesses will last five years   36% of enterprises with revenues under $30,000 are still standing 2.7 million self-employed people in Canada in 2010 Their numbers grew by 6.8% between 2006 and 2010 Small businesses employ five million people Businesses with less than 100 employees contribute more than 30% of Canada's GDP in 2010 Small and mid-sized enterprises in 2009 accounted for 86% of Canadian exporters and $68 billion in sales

THE BENEFITS OF SMALL BUSINESS AND ENTREPRENEURS

How To Foster Entrepreneurship? Entrepreneurship requires a supportive environment   Entrepreneurship is strong in those countries where financial and legal institutions provide a strong foundation Money for starting a new venture is easily obtainable Education and training are widely available Laws and regulations encourages new business ventures Free and open trade exist Support of government, education and business are available to collaborate, advice and encourage entrepreneurship

THE BUSINESS CYCLE Depression Expansion (Growth) Peak (Prosperity or Boom) Contraction (Downturn) Trough (Recession) Expansion (Recovery) A Depression is a longer & deeper trough