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SME and Entrepreneurship Policy in Canada

image of SME and Entrepreneurship Policy in Canada

SMEs and entrepreneurs make an important contribution to the Canadian economy. SMEs account for 60% of total employment, and Canada performs very well across many measures of small business generation, growth and innovation. However, further increases in productivity in medium-sized firms, an increase in SME exports, a greater business start-up rate and an increased number of high-growth firms could bring substantial benefits for the national economy.

This report identifies several areas where new policy approaches could help achieve these objectives. Framework conditions for small business could be improved in business taxation, public procurement, access to financing and the commercialisation of research. New and extended programmes could be introduced in domains including entrepreneurship education, management advice and consultancy, and workforce skills development. A major effort is recommended to prioritise women's entrepreneurship, including by supporting social enterprises, and federal support could be offered to support the exchange of information on best practice SME regulations and programmes among provinces and territories. All this could be brought together and co-ordinated through the umbrella of a national strategy and a lead agency for SME and entrepreneurship policy.

 

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Assessment and recommendations

This chapter summarises the findings and recommendations of the OECD SME and entrepreneurship policy review in Canada. It presents key evidence and analysis on the structure and performance of SME and entrepreneurship activity, the business environment and framework conditions affecting SMEs and entrepreneurship, the strategic framework and delivery system for SME and entrepreneurship policy, federal SME and entrepreneurship programmes, approaches to tailoring SME and entrepreneurship policy to local conditions and ensuring coherence between national and local interventions, and policy to promote women entrepreneurship. It presents recommendations for government action in each of these areas.

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