I am incredibly proud to say that I am a small business owner. Since launching my business in December of 2007, my life has changed dramatically, and I can honestly say I don’t know if I could ever go back to a 9-to-5 job! I love what I do. Some days I miss the stability of a regular job, and some days I work 15 hours. But it’s all worth it in the end, and I wouldn’t want it any other way.
October is Small Business Month in Canada, and to celebrate, I’m sharing with you some facts and stats about how small business in Canada helps drive our economy.
Additionally, I’m giving away a copy of Sage’s brand-new, 2016 version of Pro Accounting. I got introduced to this software at their annual global conference, Sage Summit in New Orleans, and was pretty impressed. It does way more than just accounting–you can track inventory and do project management, as well. And think how much easier your life is going to be come tax time! The best part? It’s mobile-friendly, so you can do all this on the go. If you’re anything like me, you’re on the go a lot.
Read on, and enter the contest at the bottom of the page. And cheers to all you out there that are making it work with your own small business. October is the month to celebrate us!
Celebrate Small Business Month in Canada
October is Small Business Month in Canada, a celebration highlighting entrepreneurs, their companies and the positive impact these enterprises have on the country. According to Industry Canada, a small business is a firm with fewer than 100 employees. As of December 2012, there were 1.2 million small businesses in Canada, which drive growth, create jobs, sustain markets and build the economy.
The rise of small businesses in Canada has quite the effect on the number of jobs in the country. Industry Canada reported 100,000 new businesses were developed each year between 2002 and 2008. The growth in these companies created 77.7 percent of all private-sector jobs between 2002 and 2012. Small businesses account for a large chunk of Canada’s workforce. In fact, 5.1 million people, nearly 50 percent of the country’s employable citizens, work for small businesses, according to Startup Canada. While many of these established companies have had an effect on Canada’s workforce, so have startups.
Startup entrepreneurs forge their own path
Taking a look at some statistics, it’s easy to see that new small businesses are succeeding in Canada. According to the 2015 “State of the Startup” survey by Sage, startups are usually created by a single founder and only have five employees or fewer upon their initiation. About 80 percent of these entrepreneurs were first-timers, meaning they had no prior experience in the field. While 41 percent of business owners said creating their enterprise was somewhat or extremely difficult, these entrepreneurs also decided to handle some business responsibilities on their own. More than half did not create a business plan and 68 percent funded their startup with no outside investors. With the rise of small businesses in Canada, it’s important to ask: What are the reasons for starting your own company?
Small business intentions
Starting a company is not an easy task, but the rise of so many small businesses means entrepreneurs must have their reasons for doing so. Many want to be a leader at every step of the operation, others want to create a more personal company for customers, according to The Houston Chronicle. Entrepreneurial endeavors give business owners a sense of accomplishment, along with a tool for creating financial stability. Although some company leaders only started their own company for reasons relating to money, others created a business out of passion and a strong idea for a good or service.
The country seems to be a hospitable ground for small businesses to flourish for several reasons. As of December 2014, Forbes found Canada to be in the top ten countries to start a business, coming in at No. 6 behind Denmark, Hong Kong and Ireland, among others. But that ranking isn’t the only reason to begin an endeavor in the country. Along with a large pool of skilled workers, Canada also offers lower business costs than countries like the U.S., according to KPMG. Additionally, due to the North American Free Trade Agreement, Canada has access to business with both Mexico and the United States.
With Sage 50, you decide how to manage your business accounting and bookkeeping tasks with a solution that gives you an awesome amount of freedom and flexibility to manage expenses, create invoices, track inventory and stay on top of your financials. Maintain full control of your data on the desktop while managing invoicing, banking and expenses from your mobile device. Collaborate with your accountant or bookkeeper online and do it all on your terms with one complete solution.
- Full accounting solution including advanced features like inventory and projects
- Mobile task management of invoicing and payments
- Cloud data access to collaborate with your accountant or bookkeeper
- Includes unlimited customer support
Enter now for a chance to win Sage 50 Pro Accounting 2016, a $250CDN value.
The contest is set to run from October 1-31 and is open to all Canadian residents over the age of minority, excluding Quebec. The prize package is valued at $250CDN. The winner will be randomly selected on Monday, November 2, and the email announcement will go out on Tuesday, November 3, 2015. I’ll have the prize package mailed to the winner that same week.