Small business stats you should know

Not only is it Small Business Month, but the holidays are also quickly approaching, so it’s the perfect time to learn some small business stats that can help you boost your business.

Let’s dive in!

83% of Canadian retail shoppers say they do online research prior to going in store

Think of your buying journey, do you do any online research prior to going in store and making a purchase? If you said yes, you’re not alone. In Canada alone, 83% of shoppers do online research before making a purchase in store. This may include going onto social media (like TikTok) to look at reviews from influencers and other shoppers as well as the brand’s socials. It may also include checking out online reviews. Check out our blog for 4 ways to get more quality product reviews.

73% of woman-owned businesses credit e-commerce with an increase in revenue

We’re a woman owned business so we had to include something for women entrepreneurs specifically. Although women reportedly make 58% less than men, 73% of women credit e-commerce with an increase in revenue, so if you needed a sign to go harder with your e-commerce efforts, this is it. Let’s boost these numbers by being present… and by supporting other woman-owned businesses!

More than 65% of businesses in Canada have a presence online

Do you see a pattern here? Having a presence online, from a website, to social media is so important. 

As mentioned above, there are stats that highlight the importance of being online. ore than half of Canadian businesses have a presence online, but even so, there is still a chunk of businesses who haven’t taken the leap yet. If that sounds like you, check out these blogs:

• 4 Things to think about before doing digital marketing for your small business

• 5 things entrepreneurs should know before starting on social media

As of 2023, 18.4% of all businesses are majority owned by women

Whether or not you think this is an impressive number, the fact is that the number of small businesses that are majority-owned by women has increased, so we’re celebrating that! 🙌

Again, we’re a woman-owned business so we love to see the number of women entrepreneurs increasing. If you’re a woman who’s been thinking about taking the leap and starting a small business, this is your sign to do it! Even if you start “small” by doing it in your spare time, selling from home and markets, etc., you’re still doing something amazing!

Want more insights and stats? Check out our previous blog: 8 stats you should know about small business in Canada