2017-04-28 14:11:41 Taxes English Learn what a small to medium-sized enterprise is defined as in Canada, and see if this definition applies to your small business. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/04/Man-on-fishing-boat-operating-small-enterprise-Canadian-business-holds-net-full-of-fish.jpg https://quickbooks.intuit.com/ca/resources/taxes/small-medium-sized-enterprise-sme-canada/ What Is a Small to Medium-Sized Enterprise (SME) in Canada?

What Is a Small to Medium-Sized Enterprise (SME) in Canada?

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Small and medium-sized businesses have different definitions all over the world. In Canada, the following definitions apply:

  • Small business: A company with at least five paid employees, but fewer than 100 paid employees.
  • Medium-sized business: A company with at least 100 paid employees, but fewer than 500 paid employees.

It is estimated that approximately 98 percent of businesses in Canada are small, while approximately 1.5 percent are medium-sized. About 70 percent of the Canadian labour force works for small businesses, while about 20 percent work for medium-sized businesses.

The size distinctions are important; small and medium-sized businesses are treated slightly differently for tax purposes.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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