Date post: | 17-Nov-2014 |
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Entrepreneurship & Innovation in Toronto
Small is big!
An estimated $18.1 billion GDP is generated annually by these small businesses
Approximately 270,000 people are employed in Toronto businesses with fewer than 10 employees
77% of employer businesses – about 51,000 – have fewer than 5 employees
There are about 215,000 businesses in Toronto; 130,000 with no employees
At more than 16%, Toronto often has the highest rate of self-employment in Canada
Firms by Employment Size
-
10,000
20,000
30,000
40,000
50,000
60,000
1-4 5-9 10-19 20-49 50-99 100-199 200-499 500 +
Nu
mb
er
of
Fir
ms
Number of Employees
2002
2007
2012
Source: Statistics Canada, Canadian Business Patterns December of 2002, 2007, 2012
Collaborating for Competitiveness
Recommendation C.1: Help small and medium size enterprises form and prosper
• Work with seasoned entrepreneurs, industry associations, and business organizations to establish wider networks of incubators, accelerators and mentors.
Services for Entrepreneurs
The ONE Network:• Enterprise Toronto• Provincial Business Advisory Services• MaRS Discovery District• Ontario Centres of Excellence
Services for Entrepreneurs
• Toronto Food Business Incubatorwww.tfbi.ca
• Toronto Fashion Incubatorwww.fashionincubator.com
• Toronto Business Development Centrewww.tbdc.com
Services for Entrepreneurs
Necessity Entrepreneurs– 20 Employment Resource Centres– Self-employment benefit & training providers– Community organizations
• Live Arts Inc.• YES• Miziwe Biik
– Toronto Public Library
Opportunities & Challenges
• Opportunities– Sector and labour force diversity– 4 universities & 4 colleges– Leveraging provincial and federal investments in
entrepreneurship & innovation
• Challenges– Services coordination across the ecosystem– Business community leadership– Developing incubation/acceleration programs for
non-tech growth businesses
Katherine Roos
Manager, Small Business
Economic Development &Culture
City of Toronto
Tel: (416) 395-7474
Email: [email protected]
LinkedIn: http://ca.linkedin.com/in/katherineroos
Twitter: @KatherineRoos or @EnterpriseTO