Small Business Economic Contribution - January 2019
Small businesses continue to be the backbone of the economy. The 42,119 small businesses in Saskatchewan, with employees, account for 99% of total businesses.
At $44,583.4M contribution to GDP, small businesses account for 59.2% of provincial GDP. With 381,192 employees, small business account for 66.3% of total employment in the province.
According to Innovation, Science and Economic Development Canada, as of December 2015, the Canadian economy totaled 1.17 million employer businesses. Of these, 97.9 percent (1.14 million) were small businesses (1 to 99 employees), 1.8 percent (21,415) were medium-sized businesses (100 to 499 employees), and 0.3 percent (2,933) were large businesses. Small and medium sized businesses account for 30% of national Gross Domestic Product.
With a high representation of small businesses contributing to Canada’s economy, Praxis examines the economic contribution of small businesses to Saskatchewan’s economy.
TrendLine Saskatchewan is published monthly by Praxis Consulting.
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