Innovation

Cover of the Do Foreign Patent-Protection Rights Promote Domestic RandD Spending? report
Do Foreign Patent-Protection Rights Promote Domestic R&D Spending? Evidence from Canadian Firms

This paper examines the evolving role of intellectual property rights (IPR) in the context of globalization, where research and development incentives of Canadian firms are framed not only by Canadian IPR, but also by the IPR of Canada's export market.

Cover of the Financing Innovative Small and Medium-Sized Enterprises in Canada report
Financing Innovative Small and Medium-Sized Enterprises in Canada

This paper examines whether the financing activities and experiences of innovative small and medium-sized (SMEs) in accessing financing are different from those of non-innovative SMEs. This paper also examines whether innovative SMEs face different financing terms and conditions than non-innovative SMEs seeking financing.

Cover of the Financing Profile: Financing Innovative Small and Medium-Sized Enterprises in Canada
Financing Profile: Financing Innovative Small and Medium-Sized Enterprises in Canada

This profile describes innovative small and medium enterprises (SMEs) along a range of characteristics and examines whether they differ from non-innovative SMEs in terms of access to financing, financing terms and conditions, and obstacles faced in accessing financing.

Cover of the Case Studies of Collaborative Innovation in Canadian Small Firms report
ARCHIVED - Case Studies of Collaborative Innovation in Canadian Small Firms

Using five companies as case studies, the report provides insights into new policy directions regarding university-private sector collaboration on research and development and commercialization.

Fast facts

In 2022, there are 1.22 million SMEs in Canada that have employees.
Source: Key Small Business Statistics

97.8% of businesses in Canada have fewer than 100 employees.
Source: Key Small Business Statistics

Between 2016 and 2020, on average, 101,921 businesses were created every year and 96,548  disappeared.
Source: Key Small Business Statistics

In 2022, private sector SMEs employ around 8 million people in Canada.
Source: Key Small Business Statistics

22% of SMEs operate in goods-producing industries and 78% of SMEs operate in service industries.
Source: Key Small Business Statistics

SMEs were responsible for $293 billion (40.8%) of Canada's total value of goods exports in 2022.
Source: Key Small Business Statistics

2.6% of firms with 10 employees or more were high-growth firms in 2020.
Source: Key Small Business Statistics

SMEs contributed 49% of Canada's GDP in 2020.
Source: Key Small Business Statistics

12.1% of SMEs exported goods and services in 2020.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

The likelihood of exporting increases with business size.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

The primary decision maker of 47% of SMEs is between 50 and 64 years old.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

16.8% of SMEs were majority-women owned in 2020.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

25% of SMEs are operated by individuals with a bachelor's degree, while 15% are operated by individuals with a master's degree or above.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

28% of SMEs innovated between 2018 and 2020.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

16% of SMEs held intellectual property in 2020.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

82% of SMEs requested external financing in 2020.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

92% of the amount of debt financing requested by SMEs was authorized.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises

2% of SMEs imported services from outside Canada.
Source: 2020 Survey on Financing and Growth of Small and Medium Enterprises