SME Financing Data Initiative
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Financing Innovative Small and Medium-Sized Enterprises in Canada
III. Data
The cross-sectional data used in this report are taken from Statistics Canada's Survey on Financing of Small and Medium Enterprises, 2004, a joint initiative of Statistics Canada, Finance Canada and Industry Canada. It was conducted between September 2004 and March 2005. The final sampling frame contained 1 939 780 enterprises. After adjusting the initial sample weights to account for refusals, non-responses and those enterprises that could not be contacted, the total target population count was 1 357 348 enterprises. There were 13 042 SMEs that responded to the survey. Statistics Canada considered this sample size to be large enough to reflect all the SMEs in Canada. The survey was comprised of two parts. The first part consisted of a computer-aided telephone interview of primary owners of the business in the sampling frame. This portion of the survey collected extensive firm and owner demographic information as well as data regarding the firms' most recent application for financing. Estimates of loan outcomes were generated from responses obtained from 13 042 SMEs. Estimates related to the second part of the survey (financial statement information) were generated from fax-back responses to a paper questionnaire obtained from 3500 of the 13 042 respondents.
The survey distinguishes innovative firms (those that spent more than 20 percent of their investment expenditures on R&D). Table 1 presents the population of innovative and non-innovative SMEs.
The unweighted sample consists of 13 042 observations. Excluding non-responses to the question about percentage of total investment expenditure was devoted to R&D, there were 8112 respondents remaining: 425 innovative SMEs and 7687 non-innovative ones. The weighted sample consists of 1 357 348 observations: 57 009 innovative SMEs and 1 300 339 non-innovative SMEs. The weighted sample is used in this report as it reflects the whole economy.
Table 2 illustrates the differences in characteristics between innovative SMEs and non-innovative SMEs.
16.5 percent equal partnerships
15.7 percent majority-owned by women
20.5 percent equal partnerships
16.2 percent majority-owned by women
3-6 years old: 25.1 percent started during 1999-2001
7 years +: 52.0 percent started prior to 1999
3-6 years old: 18.8 percent started during 1999-2001
7 years +: 70.5 percent started prior to 1999
41.2 percent of revenues generated from exports
31.9 percent of revenues generated from exports
5.0 percent manufacturing
10.8 percent wholesale/retail
22.6 percent professional services
18.0 percent knowledge-based industries
5.2 percent tourism
35.6 percent other industries
4.8 percent manufacturing
15.2 percent wholesale/retail
11.0 percent professional Services
5.5 percent knowledge-based industries
8.3 percent tourism
45.1 percent other industries
24.1 percent Quebec (23.6 percent)
49.5 percent Ontario (38.8 percent)
11.6 percent in Prairies (16.8 percent)
12.0 percent in British Columbia (13.1 percent)
0.2 percent in Territories (0.4 percent)
20.0 percent Quebec (23.6 percent)
36.3 percent Ontario (38.8 percent)
21.7 percent Prairies (16.8 percent)
15.7 percent British Columbia (13.1 percent)
0.2 percent Territories (0.4 percent)
34.8 percent fewer than 100 full-time-equivalent employees
0.2 percent 100-499 full-time-equivalent employees
51.5 percent had fewer than 100 full-time-equivalent employees
0.3 percent had 100-499 full-time-equivalent employees
