Canada, with its thriving economy and welcoming atmosphere, has become a hotspot for entrepreneurs seeking new opportunities. The Canadian government actively encourages the influx of business-minded individuals, and starting around 2020, small businesses played a pivotal role in the country’s employment landscape. According to recent statistics, these ventures employed a staggering 67.7% of the total private workforce, highlighting the significance of entrepreneurship in Canada.

Before delving into the process of establishing your business in Canada, it’s essential to understand the classification of businesses based on their size. In Canada, a small business is defined as one that employs 1 to 99 paid workers. A medium-sized business falls within the range of 100 to 499 paid employees, while a large business boasts a workforce of at least 500 paid workers.