Exporters are more innovative
TD Economics has released its annual report on Canada’s small and medium-sized business owners, Diverse Society in a Microcosm.
- In 2007, 45 per cent of owners were 50 to 64 years of age, and another 13 per cent were over 65. From 2007 to 2012, and given recent population trends, the estimation is 29 per cent of entrepreneurs will retire by 2020.
- About 47 per cent of small businesses are owned or partly owned by women, though wholly owned is only 16 per cent. These figures, however, are on an upward swing.
- Entrepreneurs under 30 tend to be more involved in knowledge-based industries. They are likely better able to exploit technology in a business setting.
Value on the rise
A new BMO study finds that 60 per cent of small-business owners in Canada say their companies have boosted their value in the past five years.