- British Columbia (BC) province
is home to the highest concentration of online microbusinesses in
Canada, beating Ontario, which ranks in second place, and
Alberta in third
- Small but mighty: Prince Edward
Island ranks above giant neighbour Quebec, and above Manitoba and Saskatchewan.
- GoDaddy's Venture Forward research analyses data from 770,000
Canadian online microbusinesses.
TORONTO,
ON, June 4, 2024 /CNW/ -- British Columbia is the online microbusiness
capital of Canada, with its
density of online microbusinesses surpassing eastern counterparts
including Ontario and Quebec.
Venture Forward, GoDaddy's international research initiative
that studies the economic impacts of microbusinesses and the
attitudes and needs of the owners who start and run them, analyses
data from 770,000 Canadian online microbusinesses (which typically
employ ten people or fewer ). Every province and territory in
Canada has its density calculated,
with "Microbusiness Density" relative to population density.
BC is home to the highest concentration of online
microbusinesses
The research results show that
British Columbia is Canada's province leader, with 2.8
online microbusinesses per 100 residents.
Ontario is in second place, with
a Microbusiness Density of 2.5, and Alberta third with 2.1.
Jean Bradbury, an artist, painter
and GoDaddy customer with an eponymous online small business based
in Bowen Island near Vancouver, says it's the unique culture of
British Columbia that enables
small businesses to thrive there. She comments: "British Columbia is very progressive and
community minded. People like to shop ethically and sustainably,
supporting local businesses and artists.
"There are other key advantages of being in BC. Small business
owners can enjoy the scenery and high quality of life of living in
rural areas while taking advantage of having a major city hub -
Vancouver - nearby.
"In my view, having an online presence has been crucial to
showcase my newest work and secure high-value public art
commissions. My business has grown consistently over the past four
years, and I hope to continue expanding it thanks to my online
reach."
A healthy online microbusiness landscape across the
country
The results of GoDaddy's Venture Forward research support the
conclusion that the number of online microbusinesses is
thriving across Canada, despite
recent economic headwinds.
A surprising online microbusiness powerhouse emerged from the
rankings, with small but mighty Prince
Edward Island (1.59 microbusinesses per 100 residents)
placing above neighbour Quebec
(1.56), and above Manitoba (1.22)
and Saskatchewan (1.32).
GoDaddy's Venture Forward research also found that online
microbusinesses can bring significant return on investment for
entrepreneurs. Almost three fifths (58%) of online microbusinesses
in Canada surveyed were launched
with less than $5,000 CAD in initial
capital.
The data further showed that more than half of the online
microbusiness owners said they generated over $2,500 in monthly revenue. And one in four
Canadian online microbusiness entrepreneurs now manage more than
one business.
Young Lee, Canada Market Lead
for GoDaddy, commented:
"Small business activity contributes to increased incomes
and job creation across local communities GoDaddy's
Venture Forward research helps to illustrate the enormous economic
contribution of online small and microbusinesses to wider Canadian
life and the economy. Right now, British
Columbia appears to be the heart of the country's thriving
online business scene.
"There are very few research studies that focus specifically
on companies with under 10 employees in Canada. GoDaddy aims to change that by sharing
this data with businesses and policymakers, helping them to make
more informed decisions about entrepreneurs based on the challenges
and opportunities that small and microbusiness owners
face."
NOTES
Online Microbusiness Density and Rank by Canadian Province
[source: GoDaddy Venture Forward, 2024]
Rank
|
Province
|
Microbusiness
Density
|
1st
|
British
Columbia
|
2.852319
|
2nd
|
Ontario
|
2.469034
|
3rd
|
Alberta
|
2.093635
|
4th
|
Yukon
|
1.623086
|
5th
|
Prince Edward
Island
|
1.592033
|
6th
|
Quebec
|
1.561452
|
7th
|
Saskatchewan
|
1.324056
|
8th
|
Nova Scotia
|
1.256882
|
9th
|
Northwest Territories
and Nunavut
|
1.239348
|
10th
|
Manitoba
|
1.22378
|
11th
|
New
Brunswick
|
0.97433
|
12th
|
Newfoundland and
Labrador
|
0.750171
|
About GoDaddy
GoDaddy helps millions of entrepreneurs globally start, grow, and
scale their businesses. People come to GoDaddy to name their idea,
build a professional website, sell their products and services, and
accept payments online and in-person. GoDaddy's easy-to-use tools
help microbusiness owners manage everything in one place. To learn
more about the company, visit www.GoDaddy.com.
About Venture Forward
Venture Forward is a multi-year
research initiative, which analyses data from over 770,000 Canadian
online microbusinesses. It is conducted by GoDaddy to help quantify
the impact of online microbusinesses on the Canadian economy and in
their local communities.
SOURCE GoDaddy Inc.
SOURCE GoDaddy