Small and medium-sized enterprises (SMEs) are the backbone of the North American economy, representing over 99% of all businesses in both Canada and the U.S. In Canada, there are approximately 1.1 million SMEs employing 10 million people and contributing over 54% of private sector GDP. In the U.S., roughly 32.5 million SMEs employ 61 million people and contribute about 44% of GDP.
Assuming a 1x sales multiple, SMEs represent an estimated C$1.2 trillion in value in Canada and $10.1 trillion in the U.S. Key sectors include retail, professional services, construction, and healthcare. SMEs also play a major role in exports, accounting for 25% (Canada) and 33% (U.S.) of total export value.
The report underscores the economic significance and investment potential of SMEs across both markets.