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Canada’s #1 Community for Entrepreneurs by Entrepreneurs. We talk to the entrepreneurs who are making it happen throughout Canada. Finally, a national podcast company that creates an active online community for entrepreneurs by entrepreneurs so they can stay connected locally and to let the world know how Entrepreneurs in Canada make things happen. Check us out on YouTube at https://www.youtube.com/@CanadasEntrepreneur
Episodes
Tuesday Jan 23, 2024
Tuesday Jan 23, 2024
In this video interview, well-known Canadian entrepreneur Vince Guzzo, who is also a dragon on the popular CBC television show Dragons’ Den, discusses the challenges of being an entrepreneur today and what it takes to survive.
Guzzo talks about the Canada Emergency Business Account loan repayment deadline, some of the other challenges entrepreneurs are facing today, the importance of passion in being an entrepreneur.
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
About Us
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.
Tuesday Jan 23, 2024
Tuesday Jan 23, 2024
In this video interview, Emily Gardner, Vice President, Consumer Products, Spring Financial, discusses the trend in 'loud budgeting."
Less than half of Canadians currently keep up a budget, but TikTok’s latest personal finance trend, “loud budgeting,” could change that. The trend is reshaping the narrative around money conversations by encouraging people to be more vocal about their finances and prioritize smart financial decision-making.
Gardner believes the “loud budgeting” trend is a step in the right direction for social media finance tips.
According to RBC data, 40% of Canadian Gen Z report learning about money tips from at least one social media platform. As a result, viral trends can have a huge impact on young people's finances.
#business #money #finances #budgeting #smallbusiness #entrepreneurs #entrepreneurship
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
Thursday Jan 18, 2024
Thursday Jan 18, 2024
Alex Wylie has a proven track record of building high-growth businesses and is now President and CEO of Volt Lithium Corp. Alex is leading a game-changing technological shift in the oil and gas industry aiming to be North America’s first commercial producer of lithium from oilfield brine.
The vision is to secure a supply of lithium for Canada and other markets including the USA and global destinations currently involved in oil and gas extraction. Leveraging existing infrastructure, building a permanent testing facility, and collaborative partners in R&D and implementation Volt Lithium is undertaking what others thought was impossible.
On today’s podcast we’ll hear about:
- How to find solutions ‘right under your nose’ that might not yet seem obvious
- Oil & gas industry partnerships on lithium production
- Strategic advantages to scale in Canada and Alberta
- Why lithium is important for a better future
Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.
Want to stay up-to-date on the latest #entrepreneur podcasts and news? Subscribe to our bi-weekly newsletter
Wednesday Jan 17, 2024
Wednesday Jan 17, 2024
In this interview, Mark von Schellwitz, VP Western, Restaurants Canada, discusses how many restaurants in Canada are on the brink of closing because they can’t meet the repayment deadline of January 18 for the Canada Emergency Bank Account loan.
PRESS RELEASE
With just days remaining until the Federal Government enforces the Canada Emergency Business Account (CEBA) loan repayment, Restaurants Canada is urgently calling for a last-minute extension to prevent the devastating consequences facing the food service industry.
Despite the best efforts made by Restaurants Canada, the Federal Government has declined to extend the CEBA loan repayment deadline of January 18th, 2024. This decision leaves our members, representing thousands of restaurants across the country, with limited options to avoid bankruptcy and recover from the ongoing financial challenges that arose during the pandemic.
A startling survey of the industry reveals that 1 in 5 restaurants with a CEBA loan are now on the brink of closing one or more of their locations.
The food service sector has been disproportionately affected by the pandemic lockdowns, enduring the longest lockdown period in North America, which has led to a significant accumulation of debt. Additionally, the foodservice industry operates on traditionally low profit margins, rendering it further vulnerable to external pressures.
Recovery in the food service industry has been painfully slow because of several factors beyond the control of restauranteurs, including record-high inflation, the rising cost of food, and labour shortages. We are not asking for a hand-out; we are asking for more time.
Currently, a staggering 53% of restaurants are operating at a loss or barely breaking even compared to 10% pre-pandemic, underscoring the obvious connection to this unique and devastating period in our industry and the urgent need for further support and assistance.
Kelly Higginson, President, and CEO of Restaurants Canada stated, “People understand that restaurants are part of our social fabric, they are gathering spots to celebrate life’s milestones and achievements and the place where friends come to reconnect.” Higginson continued, “Your favourite mom and pop restaurant and local gathering place is at risk. If what the industry is telling us comes to fruition, Canadian communities will lose something very special, simply because of an arbitrary deadline.”
Restaurants Canada strongly urges the Federal Government to reconsider their decision and provide an extension to the CEBA loan repayment deadline. Immediate action is essential to prevent further closures and ensure the long-term survival of this critical sector, which contributes significantly to the nation’s economy.
In the face of these challenges, Restaurants Canada stands firmly with our members and encourages them to visit our website at restaurantscanada.org for guidance on how to navigate this difficult period and learn about available resources.
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
About Us
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.
Tuesday Jan 16, 2024
Tuesday Jan 16, 2024
In this video interview, Phil Soper, President and CEO of Royal LePage, discusses the current housing market in Canada and what to expect in 2024.
#business #homes #housing #realestate #royallepage #MLS #entrepreneurs #entrepreneurship
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
Help support the channel by connecting with #canadaspodcast
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Want to stay up-to-date on the latest #entrepreneur #podcast and news? Subscribe to our bi-weekly newsletter at https://www.canadaspodcast.com/newsletter-signup
Tuesday Jan 16, 2024
Tuesday Jan 16, 2024
In this interview, Alicia Planincic, Economist & Manager of Policy, Business Council of Alberta, discusses a new report that shows the success of immigrants is vital to Canada's prosperity but their potential is too often unrealized due to common barriers.
PRESS RELEASE
New report shows the success of immigrants is vital to Canada’s prosperity, yet their potential is too often unrealized due to common barriers
CALGARY, ALBERTA; Economic immigration can do many amazing things for the Canadian economy, but only if we do it right. That means planning our systems to bring in people with the right skills our economy needs and providing newcomers with the supports they need to succeed. Today, the Business Council of Alberta released its latest research paper;The Struggle for Success which identifies five common barriers that many newcomers to Canada face after arriving; developed through consultation with newcomer serving agencies, businesses, and newcomers themselves. The paper also provides preliminary policy considerations to begin addressing these issues.
The paper highlights two fundamental barriers to newcomers’ success:
Official language proficiency—this is one of the biggest barriers for newcomers. Language learning services are not always accessible or able to keep up with growing demand.
Connection to available settlement services—while Canada has a comprehensive network of services, many do not know about them. Less than 40% of newcomers access settlement services within their first year of receiving their Permanent Residency. While not all require them, others do.
And three that more specifically interfere with their success in the labour market:
Access to a personal and professional support system—newcomers often have limited support systems in Canada, which makes navigating a new city and country such as finding a job, a place to live, or even a school for their children more difficult.
Discrimination in the labour market—newcomers often face negative bias when entering the job market. These might include having foreign experience; “second-language accents”; or even “foreign-sounding names.”
Recognition of foreign education, experience, and credentials—newcomers in regulated professions can often find that they require additional education or training to be able to practice their profession in Canada, and often the door can be nearly shut altogether.
“Supporting newcomers learning an official language should be job number one—nothing supercharges social and economic integration like language skills, and conversely our research showed that a lack of those skills can often be the most significant roadblock to newcomer success,” says Adam Legge, President of the Business Council of Alberta. “Right now, we are not matching language training funding to the number of immigrants, and that is not optimal for the country or newcomers themselves.”
Preliminary policy considerations to address these barriers include:
Adequately funding language training to the scale of newcomers: As Canada is set to welcome more newcomers than ever before over the next few years, the capacity of language programs will need to respond to this expected increase in demand.
Improving connections to and awareness of the available services: As few as 8% of newcomers may learn about available services at a government office upon landing. The Calgary Gateway program offers a positive model for potential improvement.
Better, faster, and more predictable credential recognition: Learning from the success of policies like the Alberta Labour Mobility Act, as well as encouraging regulatory bodies to identify specific training gaps, and standardized competency testing.
This is the fifth paper in the Council’s series on Canadian immigration. The next paper, which explores the potential unintended consequences of rapid population growth, will be released later this month. The Council has also stuck an expert task force to develop actionable policy recommendations to address the opportunities and barriers identified throughout this work.
The full paper is attached to this release and can be found at BusinessCouncilAB.com.
About the Business Council of Alberta. The Business Council of Alberta is a non-partisan, for-purpose organization dedicated to building a better Alberta within a more dynamic Canada. Composed of the chief executives and leading entrepreneurs of the province’s largest enterprises, Council members are proud to represent the majority of Alberta’s private sector investment, job creation, exports, and research and development. The Council is committed to working with leaders and stakeholders across Alberta and Canada in proposing bold and innovative public policy solutions and initiatives that will make life better for Albertans.
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
About Us
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.
Help support the channel by connecting with #canadaspodcast
YouTube: https://www.youtube.com/c/canadaspodcast
Website: https://canadaspodcast.com
Instagram: https://www.instagram.com/canadaspodcast
Facebook: https://www.facebook.com/canadaspodcast
Twitter: https://twitter.com/canadaspodcast
LinkedIn: https://www.linkedin.com/company/canadas-podcast
Want to stay up-to-date on the latest #entrepreneur #podcast and news? Subscribe to our bi-weekly newsletter at https://www.canadaspodcast.com/newsletter-signup
Tuesday Jan 16, 2024
Tuesday Jan 16, 2024
"Just listen to people, no matter what consider it, you may not actually apply it, but make sure you're actually listening."
Seif El-Sahly is a P. Eng., Director of Newfore Inc. but he is also a Dreamer, Renovator and Crushing Expectations! He turns drawings into reality with a dose of humour and a Top 40 Under 40 ranking. He is the force behind Tiny Homes - Garage Edition. A self-pronounced workaholic, when not at the office, he's on the hunt for abandoned real estate that can be turned into luxurious rentals in great neighbourhoods. https://www.instagram.com/newforeinc/
Connect with us:
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Website: https://canadaspodcast.com
Instagram: https://www.instagram.com/canadaspodcast
Facebook: https://www.facebook.com/canadaspodcast
Twitter: https://twitter.com/canadaspodcast
LinkedIn: https://www.linkedin.com/company/canadas-podcast
Want to stay up-to-date on the latest and news? Subscribe to our bi-weekly newsletter at https://www.canadaspodcast.com/newsletter-signup
Thursday Jan 11, 2024
Thursday Jan 11, 2024
Gail Taylor is a Canadian songwriter, keynote speaker, entrepreneur, and passionate advocate for the power of music to inspire change. Her catalog of 13 published songs draws from her life experiences and imparts invaluable messages, taking centre stage in her speaking engagements.
For the past 35 years, Gail has stood on stage and spoken about finance and socially responsible investing. Her journey began in the business world, where she honed her skills and expertise.
Gail attained her CIMA designation (Certified Investment Manager Analyst) from Wharton University, acquired her MBA at Queen's University, and underwent executive training at Harvard Business School, all while building a successful Investment Advisory practice.
In the late 70's, she embarked on a parallel journey, one dedicated to personal betterment and the art of setting and achieving goals. She is currently penning her second book – Curve Balls – personal stories and tools to inspire folks to take action in designing their own lives.
Entrepreneurs are the backbone of Canada’s economy. To support Canada’s businesses, subscribe to our YouTube channel and follow us on Facebook, Instagram, LinkedIn and Twitter.
Want to stay up-to-date on the latest #entrepreneur podcasts and news? Subscribe to our bi-weekly newsletter
Tuesday Jan 09, 2024
Tuesday Jan 09, 2024
In this interview, Dan Kelly, President of the Canadian Federation of Independent Business, discusses the growing opposition to the federal carbon tax and how it is impacting small business across the country.
PRESS RELEASE
Toronto, November 8, 2023 – A strong majority of businesses (85%) now oppose the federal carbon tax (the fuel charge) and want it to be scrapped, according to new data from the Canadian Federation of Independent Business (CFIB). The recent announcement by the federal government that it will exempt only one type of heating fuel—heating oil—from the carbon tax is just the latest example of how unfair the tax has been to small businesses. Opposition to the carbon tax among small firms is up from an earlier reading of 52% taken only one year ago.
“Small businesses have been raising their concerns with the carbon tax for years. They pay about 40% of the costs of the carbon tax, but the federal government has promised to return only 10% to small businesses,” said Dan Kelly, CFIB President. “Making matters worse, it appears most small firms will be ineligible for the Federal Fuel Charge Proceeds Return Program, if the federal government ever gets around to creating the program that was promised to deliver $2.5 billion collected since 2019 to small businesses and Indigenous groups.”
“Now the government is choosing to help some Canadians with their heating costs by exempting them from the carbon tax, while leaving the majority out. CFIB is concerned that the recently announced enhancement to the rural top-up to Climate Action Incentive payments will be funded by reducing the small sliver of carbon tax revenue that is current earmarked to be returned to small business. The entire federal carbon tax structure is beginning to look like a shell game,” Kelly added.
“With rising costs on everything from supplies to fuel to taxes and the Canada Emergency Business Account (CEBA) loan repayment deadline fast approaching, small businesses are in a precarious financial position. The government could alleviate some of the pressure by releasing the carbon tax revenues it has already collected from businesses and committing to several important changes,” Kelly added.
CFIB is asking the federal government to overhaul the carbon tax system by:
Expanding the carbon tax exemption to all forms of heating fuels, including natural gas and other sources used by small business.
Halting future carbon tax increases, including the hike planned on April 1, 2024.
Immediately returning all promised funds to all small businesses that paid into the tax.
Ensuring businesses are eligible for rebates or refunds equivalent to the full share of the fuel charge costs they incur (CFIB estimates 40%).
Supporting the passing of Bill C-234 at third reading in the Senate rapidly without any amendments.
“Small businesses have been waiting for a meaningful effort from government to return the carbon tax revenues it promised them since the tax was introduced. They have seen consumers and big businesses benefit from rebates and grants, while they were left in the cold,” Kelly concluded. “If the government can’t fix the carbon backstop system now, it’s time to scrap it and look for other ways to address climate change.”
About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 97,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list)
About Us
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.
businessCanadasNumberOnePodcast for Entrepreneurscarbon taxCFIBentrepreneursentrepreneurshipsmall business
Tuesday Jan 09, 2024
Tuesday Jan 09, 2024
In this interview, Simon Worsfold, Head of Data Communications, for Intuit QuickBooks, discusses a new report that indicates small business credit card spending is up 18 per cent. He talks about the reasons for the huge increase, the challenges faced by small businesses today, the impact on hiring, the rise of solopreneurs, the importance of access to capital and the impact small business has on the overall Canadian economy.
PRESS RELEASE
TORONTO–(BUSINESS WIRE)–Intuit (NASDAQ: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, has released the 2023 Intuit QuickBooks Small Business Index Annual Report. Developed in collaboration with leading global economist Professor Ufuk Akcigit and his co-authors, the report reveals how macroeconomic pressures like inflation and higher interest rates are affecting small businesses’ ability to create jobs and get the funding they need to grow.
THE STATE OF SMALL BUSINESS
The report finds that in 2023, while overall employment levels have trended upward in Canada, the US, and UK, small business employment has been less resilient. Using anonymized data from more than 3.4 million Intuit QuickBooks customers and surveys of more than 5,000 small businesses in Canada, the US and the UK, the report looks at how small businesses are responding to these challenges, and examines the relationships between small business growth, access to capital, and use of digital technology. Key findings include:
With elevated inflation and high-interest rates, small businesses have increasingly depended on their credit cards, with the current spending being 20% higher, on average, than they were before the pandemic. At the same time, their monthly credit card payments, which include interest charges, are up by 26% on average.
These pressures are affecting jobs: small business employment rates declined in seven of the first eight months of 2023 in Canada, and in the first five months of 2023 in the US. Similarly, in the UK, small business job vacancy growth rates declined in all of the first eight months of 2023.
The rise of the solopreneur (non-employer businesses) shows entrepreneurship is stronger than ever; however, in Canada and the US, fewer new businesses are creating jobs, a concerning trend because in the US, more than a third of all jobs are with small businesses while in Canada and the UK it’s more than two in five.
Access to funding is essential for small business growth, but roughly half of small businesses in Canada, the US and the UK are self-funded by the owner. New businesses and businesses owned by women or members of underrepresented racial groups often face greater funding challenges.
Despite inflation declining over the past year, small businesses in Canada, the US and the UK say rising costs are still the number one challenge they face.
FRESH INSIGHTS ON CANADIAN SMALL BUSINESSES
Small business employment and hiring: In January 2023, Canadian small businesses with 1-19 employees employed 5.2 million people, rebounding to a similar level in August 2023 after several months of declines, before declining again in September (source: Intuit QuickBooks Small Business Index).
Small businesses contribute to the economy: In Canada, 99% of all Canadian businesses are small businesses; 47% of all Canadian workers are employed by small businesses.
Rise of the solopreneur (non-employer businesses): In 2015, self-employment made up just under 68% of all Canadian businesses. By 2022, this had risen to more than 69%. This rise is significant because it is part of a longer-term trend, similar to the US, where fewer new businesses are creating jobs. The report connects this to the rise of gig work and digital technology.
Small business finances: Monthly small business credit card expenditure is currently 18% higher, on average, than before the pandemic, equivalent to $2,700 CAD per business while monthly repayments against credit card account balances are up by 22% on average, again equivalent to $2,700 CAD per business.
Small business access to funding: While 51% of Canadian small business owners surveyed have used their own savings to fund their business, only 27% report ever getting funding from a commercial lender. New small businesses (0-5 years old) are more than twice as likely to say “getting funding” is their number one challenge compared to older small businesses (21+ years).
Adoption of digital tools and technology: Higher use of digital tools and technology (such as software, apps, social media, and e-commerce) correlates with higher growth among small businesses surveyed. Among Canadian small businesses using digital tools to manage 8 or more different areas of their business, 63% report revenue growth and 22% report workforce growth but, among those only managing up to 2 areas with digital tools, this drops to 31% and 5%, respectively.
Leading global economist and Arnold C. Harberger Professor of Economics at the University of Chicago, Ufuk Akcigit said: “We know that small businesses play a significant role in empowering the Canadian economy, in fact, they provide almost half (47%) of jobs in the Canadian economy. In spite of their importance, their size and the challenges accessing capital makes them particularly vulnerable to economic shifts because of inflation and rising interest rates. Despite these challenges, there are reasons for optimism. Using insights from our research, we have developed recommendations that small businesses can take to help ensure their resilience and growth, including staying on top of their cash flow, making smart banking decisions and leveraging the power of digital technology. All of these actions can help small businesses in the face of economic challenges, and the future health of our economy depends on their success today.”
Sasan Goodarzi, CEO of Intuit said: “Becoming an entrepreneur is a bold decision. Given the significant impact new and growing small businesses have on job creation, innovation, and the economy, policymakers and industry leaders should be equally bold in creating an environment where small businesses can grow and thrive. We remain focused on working across the industry to create new and innovative ways to serve our customers and help solve their most pressing challenges.”
Based on the research and insights from the report, Intuit has developed a set of recommendations for policymakers, accountants advising their small business clients, and entrepreneurs starting and running small businesses. These concrete, actionable recommendations can help policymakers foster an environment conducive to small business growth and resilience; accountants provide guidance to their clients in responding to the challenges and trends identified in the report; and small business owners set their businesses up for success.
For more insights, check out the Intuit QuickBooks Small Business Index Annual Report here. To stay up to date on the latest monthly Index releases, visit the Intuit QuickBooks Small Business Index interactive hub.
ABOUT THE REPORT
RIGOROUS METHODOLOGY
The report’s findings are based on a new analysis by Ufuk Akcigit, Raman Singh Chhina, Seyit M. Cilasun, Javier Miranda, Eren Ocakverdi, and Nicolas Serrano-Velarde of four data sources, in partnership with Intuit QuickBooks data analysts:
Intuit QuickBooks Small Business Index: recent employment and hiring trends among small businesses in the US, Canada, and the UK. Methodology details available here.
Intuit QuickBooks customer data: anonymised, aggregated and reweighted/adjusted to reflect the wider population of small businesses in the US, Canada, and UK, not Intuit’s business, to provide new insight into small business access to credit, credit card expenditure, and payments against credit card balances during the recent inflationary period. Sample: 3.4 million small businesses; 2,795,000 in US; 305,000 in Canada; 313,000 in UK.
Intuit QuickBooks Small Business Insights: regular online surveys of small businesses with up to 100 employees, commissioned by Intuit QuickBooks in the US, Canada, and UK every three to four months. Total sample size for April 2023 wave of surveys: 5,175 (comprising 2,805 small businesses in the US; 1,210 small businesses in Canada; and 1,160 small businesses in the UK).
Official statistics and other external sources, including publicly available data from: the U.S. Census Bureau; Federal Financial Institutions Examination Council, Bank Holding Company (US); National Federation of Independent Businesses (US); Statistics Canada; Office for National Statistics (UK), Department for Business, Energy & Industrial Strategy (UK);
New insights from the analysis of this data comprise four major topic areas in the Intuit QuickBooks Small Business Index Annual Report:
Long-term small business employment trends and the critical role small businesses play in the US, Canadian, and UK economies, including: job creation, the rise in self-employment, and the COVID-19 pandemic’s contribution to new business growth. Source: official statistics.
Recent trends in small business employment since the COVID-19 pandemic, in four phases: initial downturn due to the spread of the virus; recovery period as small businesses adapted and new businesses were created; second downturn coinciding with higher inflation and interest rates; and, lately, early signs of a second rebound, particularly in the US. Source: Intuit QuickBooks Small Business Index.
Small business access to funding: why small businesses need funding, where they get it, how they use it, and which businesses face the greatest challenges obtaining it — with a close examination of the impact of inflation on small business finances, using anonymised data from QuickBooks customers in the US, Canada, and UK. Source: Intuit QuickBooks customer data and Intuit QuickBooks Small Business Insights survey (see sample details above).
The state of small business in the US, Canada, and UK today: combining a new analysis of official statistics with survey data from more than 5,000 small businesses, including 2,325 QuickBooks customers. Source: Intuit QuickBooks Small Business Insights survey (see sample details above).
The full methodology is provided in the appendix of the Intuit QuickBooks Small Business Index Annual Report.
ABOUT PROFESSOR UFUK AKCIGIT
Ufuk Akcigit is the Arnold C. Harberger Professor of Economics at the University of Chicago. He is an elected Research Associate at the National Bureau of Economic Research, Center for Economic Policy Research, and the Center for Economic Studies, and a Distinguished Research Fellow at Koc University. He has received a BA in economics at Koc University, 2003, and Ph.D. in economics at Massachusetts Institute of Technology in 2009.
As a macroeconomist, Akcigit’s research centers on economic growth, technological creativity, innovation, entrepreneurship, productivity, and firm dynamics. His research has been repeatedly published in the top economics journals, cited by numerous policy reports, and the popular media. The contributions of Akcigit’s research has been recognised by the National Science Foundation with the CAREER Grant (NSF’s most prestigious awards in support of early-career faculty), Kaufmann Foundation’s Junior Faculty Grant, and Kiel Institute Excellence Award, among many other institutions. In 2019, Akcigit was named the winner of the Max Plank-Humboldt Research Award (endowed with 1.5 million euros and aimed at scientists with outstanding future potential). In 2021, Akcigit was awarded the prestigious Guggenheim Fellowship and was named a Fellow of the Econometric Society. In 2022, he received the Sakip Sabanci International Research Award and Kiel Institute’s Global Economy Prize.
ABOUT INTUIT
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.ca and find us on social for the latest information about Intuit and our products and services.
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list
About Us
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.
#business #CanadasNumberOnePodcastforEntrepreneurs #entrepreneurs #entrepreneurship #small business