Small and medium-sized enterprises (SME) are actually big business in Canada. Nearly 99% of all registered Canadian companies employ fewer than 500 people, which makes the SME sector by far the biggest contributor to Canada’s economy. These companies are a vital part of the national economy and the source of most of the innovation in Canada, as hundreds of thousands of small operators discover new technologies and ways of doing business that have the potential to change the face of Canada’s post-industrial economy.
This sector is not without its challenges, though. Specific issues revolving around hiring, borrowing, and collecting debts, in particular, have been of special concern to Canadian small businesses for decades. Your SME may have to come up with its own way to overcome them and grow.