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The Daily. Friday, November 3, 2000
Fifty-four percent of the owners of small businesses in operation since at least 1995 depended on their business as the only source of income for their household, a new survey has found.
An additional 26% relied on the business as the most important source of income (though not the only source), and 20% reported that the business was neither the only nor the most important source of income.
The Survey of Micro-enterprises, conducted by Statistics Canada on behalf of the Small Business Policy Branch of Industry Canada during the summer of 2000, received responses from the majority owners of about 1,500 businesses. It included several questions exploring the factors and issues affecting the viability and growth of small firms.
Results are representative of firms in operation since at least 1995 and having one to four employees in December of 1995. The survey sample included firms in the construction, finance and insurance, accommodation, agriculture, business services, health, social services and retail trade sectors. Not-for-profits and government offices were excluded.
According to the survey, 67% of the owners started their business from scratch. About 24% of the businesses were bought from someone else, and 6% were family inheritances, which were especially common in the agriculture sector.
Only 30% of the business owners were willing to risk their personal assets for the growth of their company. Thirty-seven percent of all respondents said their business was established in the market and was expanding at the time of the survey.
Industry Canada will release a final report with detailed findings in the spring of 2001. For more information, or to enquire about the concepts, methods or data quality of this release, contact Jamie Brunet (613-951-6684; jamie.brunet@statcan.gc.ca), Small Business and Special Surveys Division.