Approximately 40% of businesses in Canada have fewer than 100 employees.
It is commonly recognized that small businesses are the backbone of the Canadian economy.
The report indicates that small businesses have helped with the labour market slowdown and are now surpassing big businesses in terms of annual payroll growth.
During the post recession years (2010-2015), small businesses created more net new jobs than large companies – 45% of national payroll gains, greater than half a million. This marks a shift in the Canadian job market as large businesses dominated hiring from 2002-2008.
While small businesses are not without economic and operational challenges, they have proven the ability to adapt to change and exercise resilience. Read more.
Read Employment E-News – January 2017 – Embracing Change
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