First things first, let’s define what “small” really means in small business. Industry Canada defines business sizes as:1 to 4 employees: Micro-enterprise5 to 100: Small business101 to 499: Medium-sized business500-plus: Large business Ninety-eight percent of businesses in Canada employ 1 to 99 people. The 2012 stats reported that there were just over 1.08 million small businesses in Canada (excluding self-employed entrepreneurs) that employed over 7.7 million people or 69.7% of the total private labour force. Almost 78% of all private jobs created between 2002 and 2012 were by small businesses; that’s a little over 100,000 jobs. So yes, small businesses are essential to Canada’s economy!
An idea, service or product is the first step in starting a successful small business. Then you need to do your research!
A small business owner needs to be multi-skilled and, if not experienced in business, must understand the basics of business. Success does not usually happen overnight. Becoming an entrepreneur requires skills in: finance, marketing, advertising, public relations, human resources, management, leadership and risk.If you`re thinking of starting your own business, check out the diploma in Business Administration offered at ABM College!
Get started on the road to becoming an ABM College graduate today with our free information kit. In it, you will learn about all of the exciting programs we offer, our philosophy, information about our campuses, and lots more.