GoDaddy Research: British Columbia is entrepreneurial epicentre of Canada

• British Columbia (BC) province is home to the highest concentration of online microbusinesses in Canada, beating Ontario, which ranks in second place, and Alberta in third
• Small but mighty: Prince Edward Island ranks above giant neighbour Quebec, and above Manitoba and Saskatchewan.
• GoDaddy's Venture Forward research analyses data from 770,000 Canadian online microbusinesses.

TORONTO, ON, June 4, 2024 /CNW/ -- British Columbia is the online microbusiness capital of Canada, with its density of online microbusinesses surpassing eastern counterparts including Ontario and Quebec.

Venture Forward, GoDaddy's international research initiative that studies the economic impacts of microbusinesses and the attitudes and needs of the owners who start and run them, analyses data from 770,000 Canadian online microbusinesses (which typically employ ten people or fewer ). Every province and territory in Canada has its density calculated, with "Microbusiness Density" relative to population density.

BC is home to the highest concentration of online microbusinesses
The research results show that British Columbia is Canada's province leader, with 2.8 online microbusinesses per 100 residents. Ontario is in second place, with a Microbusiness Density of 2.5, and Alberta third with 2.1. 

Jean Bradbury, an artist, painter and GoDaddy customer with an eponymous online small business based in Bowen Island near Vancouver, says it's the unique culture of British Columbia that enables small businesses to thrive there. She comments: "British Columbia is very progressive and community minded. People like to shop ethically and sustainably, supporting local businesses and artists.

"There are other key advantages of being in BC. Small business owners can enjoy the scenery and high quality of life of living in rural areas while taking advantage of having a major city hub - Vancouver - nearby.

"In my view, having an online presence has been crucial to showcase my newest work and secure high-value public art commissions. My business has grown consistently over the past four years, and I hope to continue expanding it thanks to my online reach."

A healthy online microbusiness landscape across the country 
The results of GoDaddy's Venture Forward research support the conclusion that the number of online microbusinesses is thriving across Canada, despite recent economic headwinds.

A surprising online microbusiness powerhouse emerged from the rankings, with small but mighty Prince Edward Island (1.59 microbusinesses per 100 residents) placing above neighbour Quebec (1.56), and above Manitoba (1.22) and Saskatchewan (1.32).

GoDaddy's Venture Forward research also found that online microbusinesses can bring significant return on investment for entrepreneurs. Almost three fifths (58%) of online microbusinesses in Canada surveyed were launched with less than $5,000 CAD in initial capital.

The data further showed that more than half of the online microbusiness owners said they generated over $2,500 in monthly revenue. And one in four Canadian online microbusiness entrepreneurs now manage more than one business.

Young Lee, Canada Market Lead for GoDaddy, commented:
"Small business activity contributes to increased incomes and job creation across local communities GoDaddy's Venture Forward research helps to illustrate the enormous economic contribution of online small and microbusinesses to wider Canadian life and the economy. Right now, British Columbia appears to be the heart of the country's thriving online business scene.

"There are very few research studies that focus specifically on companies with under 10 employees in Canada. GoDaddy aims to change that by sharing this data with businesses and policymakers, helping them to make more informed decisions about entrepreneurs based on the challenges and opportunities that small and microbusiness owners face."

NOTES

Online Microbusiness Density and Rank by Canadian Province [source: GoDaddy Venture Forward, 2024]

Rank	Province	Microbusiness Density
1^st	British Columbia	2.852319
2^nd	Ontario	2.469034
3^rd	Alberta	2.093635
4^th	Yukon	1.623086
5^th	Prince Edward Island	1.592033
6^th	Quebec	1.561452
7^th	Saskatchewan	1.324056
8^th	Nova Scotia	1.256882
9^th	Northwest Territories and Nunavut	1.239348
10^th	Manitoba	1.22378
11^th	New Brunswick	0.97433
12^th	Newfoundland and Labrador	0.750171

About GoDaddy 
GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place. To learn more about the company, visit www.GoDaddy.com.

About Venture Forward
Venture Forward is a multi-year research initiative, which analyses data from over 770,000 Canadian online microbusinesses. It is conducted by GoDaddy to help quantify the impact of online microbusinesses on the Canadian economy and in their local communities.

SOURCE GoDaddy Inc.

SOURCE GoDaddy

Thomas Costello, [phone], [email protected]