Small Business Stats

Hi Everyone,

I found an interesting article this week that has several statistics about Canadian small businesses.

The first is that 58% of small businesses start out with less than $5000, and 79% start out with less than $20,000.  But what I thought was very interesting, is that 98% of businesses in Canada are small or medium sized.

This shows that small businesses are absolutely essential for the Canadian economy and the livelihood of most of the workforce.

However, only 85% of small businesses survive the first year, and only 70% the second year. This reinforces the importance of managing your money. Bookkeepers can help small businesses identify where their money is and where it is moving. And knowing this movement of money allows you to make the best decisions for your business.

I’m Colleen from Security House Accounting. Give us your books – take back your life!

Article Link

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