Impact of Small Businesses on the Canadian Economy
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Questions and Answers

What is one advantage that small businesses have over larger businesses?

  • Economies of scale
  • A more hierarchical organizational structure
  • Access to more financing options
  • Ability to respond quickly to changes in the business environment (correct)

    • What percentage of Canadian businesses employ 1-4 people?

  • 40%
  • 55.1% (correct)
  • 60%
  • 30%

    • What percentage of all employers in Canada are small businesses?

  • 100%
  • 40%
  • 98% (correct)
  • 70%

    • What challenge do small businesses often face?

    <p>Inability to obtain financing</p> Signup and view all the answers

    What percentage of new jobs in the private sector were created by the small-business sector?

    <p>70.5%</p> Signup and view all the answers

    What is a benefit of remaining small, according to the text?

    <p>Ability to provide a high level of specialized service</p> Signup and view all the answers

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