Canada Small Business Trends

Goals

Determine insights on small and commercial business operations in Canada. The information will be used to understand the market.

Early Findings

Canada Small Business Trends

Credit Card Use

  • Based on discussions among Canadian business owners, it is typically normal to use personal credit cards for their business expenses.
  • However, it is advised not to depend too much on personal credit cards to prevent cash flow concerns and high interest debts.
  • Furthermore, business owners who solely rely on personal credit cards might not be able to build a separate credit profile for their businesses.
  • It is also beneficial for the financial health of a business to always have a separate business finances from personal expenses.
  • Doing this will also make it more convenient to compute for tax deductions when preparing tax statements.
  • It is also recommended to get a business credit card as this can give a business a chance to earn rewards, as well as protect them from fraudulent transactions.
  • Having a business credit card can also allow business owners to avail of long warranties.
  • Based on the offered features of several credit card companies in Canada such as CIBC, some of the benefits that business owners most probably prefer in credit cards include the following: getting reward points, a solution to keep their personal and business finances separate, and an option to get additional cards for employees.
  • The loyalty and rewards offers from credit cards are known to drive business use of these cards.

Consumer Business Patronage

  • Based on the last survey done by the government of Canada, the share of the various sizes of businesses to the country's gross domestic product is as follows: small businesses - 41.5%; medium-sized businesses - 11%; andd lage businesses - 47.5%.

Proprietary Database Search Results

In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.

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