Jan 19, 2023
Small Business Gets Most Federal Support
In 2020, small- and medium-sized enterprises (SMEs) accounted for 95.8 per cent of all enterprises that obtained federal support from innovation and growth support programs. These enterprises also received close to three-quarters of the total amount distributed from these programs, says Statistics Canada in its ‘Business Innovation and Growth Support (BIGS) 2020’ initiative. Small businesses were particularly more likely to receive federal innovation and growth support in 2020 as they accounted for 87.9 per cent of the enterprises receiving support and for 61.4 per cent of the total amount given to businesses that year. In 2020, small businesses – which are defined as those with fewer than 100 employees – benefited from increased government assistance to help with the effects of the COVID-19 pandemic.
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