Have you ever considered starting a business yourself? The thought of that normally leads to two answers nowadays, either you should go for a start-up or invest in a small business.
Everyone in the business sector wants to emulate Elon Musk, and with environmental products and the green trend in full force, the attractiveness of unique entrepreneurial startups is increasing by the day.
However, the startup boom has not affected the importance of small businesses one bit, especially in a country like Canada. Small businesses are a major part of Canadian life, for both the citizens and country. The statistics for small businesses are a fantastic way to display their importance for Canada.
Some Facts About Small Business
More than 7.7 million Canadians are employed in over 1 million small businesses all over the country. This includes nearly 70% of all private sector workers. The businesses altogether contribute over $300 billion to the country’s GDP. The numbers are staggering and show just how important small businesses are to Canada.
Normally, the main argument against small businesses is that they find it hard to scale up. Although that is not true, many people forget the positive aspects of investing in a small business because of that. A small business has a plethora of unique advantages for its owners and investors. The simplest advantage of a small business is contentment. People can go all out and sacrifice entire days to build a million dollar business and end up unhappy. Whereas, a modestly successful small business can lead to a far more happy and healthy life. Therefore, if you value a better life more than wealth and material belongings, a small business is the perfect investment for you.
5 Reasons Canadians Should Focus on Small Businesses
The Focus is On a Simple Business
Simplicity is one of the most appealing charms of a small business. As an investor, or manager, or worker in the business, you simply have to operate in a defined parameter or boundary. The work you do has certain limitations that you do not need to exceed. There is no need to go overboard with services or features in order to make your business look bigger, better, and more productive than the rest in the market. All of the tasks have simple definitions and have to be followed within their defined boundaries.
This is a fantastic opportunity for people related to the business to be more creative with their work. The lack of huge targets, mega innovations, and everything one might see in a big business is replaced with a general happiness and passion for the job, which can lead to some great improvements. All for being simple.
More Importance Towards People
A small business is all about close relationships with people. Since it is a small number of people working together, it can lead to the creation of some great friendships and associations. Small businesses allow you to spend more time with the people who are with you in the endeavor.
It allows you to understand and know them better and with that personal bond and association, be able to deal with problems with a mutual thought process. The people who work for you or with you are a far greater priority than the hundreds of people you might see in a big business. A small business is essentially all about the people.
Small Businesses Allow More Personal Touches
Big businesses have a compiled set of rules and guidelines that define everything they do. These guidelines make it hard for individuals to properly express themselves. A person’s creativity can be diminished and they can feel suffocated in such an environment.
Small businesses, on the other hand, allow for greater creativity and personal expression. They allow you to add something of your own to every product and service, or even a little gift for customers at every purchase. If you want your business to have more of your existence in it, you need to invest in a small business.
Small Business Means a Constant Cashflow
Small business makes less than big businesses. That is a fact. Hence, any investor in a small business would make less than people who invest in bigger companies. However, this fact should not deter you from small businesses. Surely, you will make less money, but all the money you make is based on a smaller investment. Most importantly, all the profit you gather goes into your own wallet.
You Can Always Grow
A small business does not mean staying small forever. There is always an opportunity to expand and target more people.