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Small and medium-sized enterprises (SMEs) are businesses that have less than 500 employees, but all together they employ 64 percent of Canada’s active workforce, according to Statistics Canada. SMEs account for about 40 percent of Canada’s gross domestic product, according to Industry Canada—meaning that combined, they form the foundation of the country’s diverse economy. University of Ottawa business professor Martine Spence confirms what most Canadians seemingly already know: “Without SMEs, our economy wouldn’t be diverse, innovative, relatively thriving—what it is now.”
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