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Word Count: 1,245
It is evident that small businesses contribute greatly to the economy They supply to the economy by providing new innovations and creating jobs being responsible for more than half of Canadas employment They also help the economy to reach several goals such as economic growth full employment and economic freedom Small businesses also help the economy money-wise by all the investments and their starting of the multiplier effect Entrepreneurship is also an opportunity for minorities immigrants and women to be employed in order to reach the nations goal of full employment But primarily small businesses have such a positive impact on todays Canadian economy most importantly through innovation job creation and business investments Small businesses companies employing less than 50 people are direct results of entrepreneurship Entrepreneurship is defined as any attempt at a new business or new venture creation This involves self employment and independence which leads to economic freedom thus resulting in innovation Entrepreneurship entails being your own boss and making your own decisions therefore economic freedom They have freedom in choices and final decisions for the company whereas in large corporations rules and restrictions apply In small companies and entrepreneurship there lies the ability to take chances risks and make mistakes With larger companies mistakes cause more consequences and costs there are more opportunity costs for them With small businesses there are no restrictions rules and regulations because you are your own boss You make your own decisions and are able to be more creative and imaginative with product ideas financing and management Entrepreneurship allows business owners to make ideas which would not likely be approved in large companies a reality whether they succeed or fail This is why small companies are known for their crucial roles as leaders of innovation In 1982 a small business in Kitchener Ontario introduced Canadas first blue box program for the re-use of household paper glass and cans This innovation of garbage programs have developed
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