In 2021, over 315,000 small businesses were operating in rural and small town (RST) areas, representing 15.3% of all small businesses in Canada. This compared with more than 1.7 million small businesses that were active in urban areas.
Small businesses are defined in this analysis as incorporated and unincorporated businesses that have annual revenues of $30,000 to $5,000,000. Medium-sized businesses are defined as those with annual revenues of $5,000,001 to $20,000,000.
Over 8,700 medium-sized businesses were active in RST areas in 2021, representing 15.6% of all medium-sized businesses in Canada. More than 47,000 medium-sized businesses were active in urban areas.
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