According to a new report of economic department of the RBC bank, representatives of small and medium-sized businesses in Canada experienced a recession with fewer losses than big business.

According to data of small and medium-sized enterprises compared with companies that size is over 300 people they do have less job cuts, the level of employment fell by 4.2 per cent, while for large businesses, the figure was 5.5 percent. “Countering concerns that smaller enterprises are generally more impacted by economic downturns, we found that smaller businesses endured the recent recession better than their larger counterparts,” said Paul Ferley, assistant chief economist, RBC. “The relative success of private sector SMEs likely reflected lower exposure to external markets such as the United States, which saw greater weakness compared to Canada’s domestic economy.”

Regional Findings:

Newfoundland & Labrador: Small and medium-sized enterprises employment declined by 1.2 per cent, (4.3 per cent at large firms). Small and medium-sized enterprises manufacturing declined by 29.2 per cent (90 per cent at large firms).
Nova Scotia: Large firms’ employment fared better than small and medium-sized enterprises – 1.7 per cent and 2.9 per cent respectively.
New Brunswick: Manufacturing sector falling by 11.3 per cent, however employment among of small and medium-sized enterprises contracted 13.2 per cent (9.6 per cent at large firms).
Quebec: Small and medium-sized enterprises employment declined by 2.6 per cent, (6.2 per cent at large firms).
Ontario: Small and medium-sized enterprises employment declined by 10.4 per cent, (19.2 per cent at large firms). In the retail and wholesale-trade sectors Large firms’ employment fared better than small and medium-sized enterprises 1.3 per cent and 4.1 per cent respectively.
Manitoba: Small and medium-sized enterprises employment declined by 1.5 per cent, (8.1 per cent at large firms).
Saskatchewan: Small and medium-sized enterprises employment increased by 1.8 per cent after initially falling 0.7 per cent, (8.1 per cent decline at large firms).
Alberta: Large firms’ employment fared better than small and medium-sized enterprises – 5.6 per cent and 7.4 per cent respectively.
British Columbia: Small and medium-sized enterprises employment declined by 6.9 per cent, (7.4 per cent at large firms).

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