Not only will the great majority of Canada's small businesses survive the recession, but as the recovery continues, many will be stronger than ever, according to a major study released by BMO's Economics Department.

The report, Canada's Small Business Juggernaut, by BMO Chief Economist, Dr. Sherry Cooper, assesses the strength of small business formations in communities across Canada; it identifies the small business Hotbeds among the country's 33 largest cities and measures small business intensity in those centres and the nation's 111 small cities. Dr. Cooper's report, a post-recession perspective of this vital segment of Canada's economy, offers an optimistic prognosis for Canadian entrepreneurs.

The study reviews the five-year growth figures for small businesses in the 33 CMAs. The report identified Hotbed growth areas in three regions: Ontario's Greater Golden Horseshoe region (Toronto, Guelph, Oshawa, and Barrie); Alberta's Calgary-Edmonton corridor; and, British Columbia's Lower Mainland and southern Vancouver Island (Vancouver, Abbotsford, and Victoria). 

 

TOP 10 CMA SMALL BUSINESS GROWTH, 2004-2009 (% change in number)

1. Toronto, ON (15.1)
2. Guelph, ON (13.8)
3. Abbotsford, BC (10.2)
4. Vancouver, BC (9.3)
5. Oshawa, ON (9.1)
6.Kelowna, BC (8.4)
7.Calgary, AB (7.4)
8.Barrie, ON (6.6)
9.Ottawa-Gatineau, ON/QC (6.3)
10. Victoria, BC (6.1)

Looking at the intensity of small business activity, British Columbia, Alberta and Saskatchewan centres dominate the Top Ten lists for larger and smaller urban communities. Other centres in the Top Ten list include: St. John's, NL, Moncton, NB, and Toronto, ON.

TOP 10 CMA SMALL BUSINESS HOTBEDS (No. small businesses/1,000 pop)

1.Kelowna, BC (39.7)
2.Calgary, AB (38.9)
3.Vancouver, BC (37.2)
4.Edmonton, AB (36.6)
5.Victoria, BC (35.0)
6.St. John's, NL (32.9)
7.Moncton, NB (32.4)
8.Abbotsford, BC (32.2)
9.Saskatoon, SK (31.9)
10. Toronto, ON (30.0)

TOP 10 CA SMALL BUSINESS HOTBEDS (No. small businesses/1,000 pop)

1.Fort St. John, BC (71.2)
2.Lloydminster, AB/SK (69.0)
3.Canmore, AB (57.9)
4.Camrose, AB (54.9)
5.Okotoks, AB (54.1)
6.Grande Prairie, AB (53.8)
7.Brooks, AB (51.0)
8.Swift Current, SK (51.0)
9.Salmon Arm, BC (50.4)
10. Estevan, SK (50.2)