When students are looking for business jobs in today's employment market, they should first turn to the small businesses in their area, according to new data from the latest Royal Bank of Canada (RBC) survey. Not only do they account for a majority of the recent economic improvements in the nation, but they dominate the business sector as a whole, according to Postmedia News.
"Ninety-eight per cent of businesses in Canada have 100 or fewer employees and less than $5 million in revenues," Frank Boutzis, partner with KPMG Enterprise in Toronto, told the news source. "At the same time, their contribution to the economy is in excess of 30 per cent of Canada's GDP and they account for 48 per cent of the labour force in the private sector."
Some business leaders, like Mike Michell, the national director for small business at RBC, have even argued that these burgeoning companies have pulled the nation out of the recent recession, the news source reports.
According to the 2012 survey, 29 per cent of these small business owners are confident that they will boost hiring over the next 12 months, an amount that has gone up by 25 per cent since 2011.
These companies are living up to the beliefs of an overwhelming number of Canadians who are confident that these entrepreneurs will continue to support the growing economy. Another study completed by the RBC this year highlights that 94 per cent of people across the nation believe that startup companies play a crucial role in economic growth, and 88 per cent envision most jobs coming to Canada's workforce because of these organizations.
The RBC is not the only institute researching these trends. A survey by the Bank of Montreal discovered similar results, with a majority of participants expressing hopefulness and positive views of the future of the economy. Postmedia News reports that respondents attribute most of the positive forecast to small businesses.
Many companies intend to expand their teams of information technology workers, administrative employees, payroll specialists and more. In an effort to keep up with the latest trends and adapt to changes in each field, business owners are looking for talent with a strong educational background and training that will propel them forward.