CMG'S RESEARCH ON BUSINESS FAMILIES CITED IN GLOBE & MAIL
Commentary | May 2016 | by Craig Postons
Creaghan McConnell Group has long believed that Canada’s ‘business families’ – those privately-controlled enterprises started by a founder and continuing to operate privately today – are the backbone of our economy. We’ve built our own family business in supporting these families to protect, grow and successfully transition their family capital.
We even commissioned third party research in 2015 to confirm the contributions (in a multitude of ways) of Canada’s top 500 families to our economy – and we were pleased to see our research referenced in this column by Karl Moore in The Globe & Mail on May 6, 2016.
Regardless of how you feel about the Bombardier situation, Moore’s commentary reminds us of the important role business family enterprises play in Canada, including:
- generating nearly 15% of all private sector jobs in Canada (or nearly 1.6 million positions)
- accounting for 23% of operating revenues for all medium and large Canadian enterprises
- contributing nearly 20% of all federal corporate tax in Canada, or $6 billion
The bottom line: business families create the revenue, taxes, and employment that puts Canadians to work, at home, in local communities, and where people want to live. They take risks, diversify, innovate, compete and persevere. They influence all facets of Canadian life, and as our research report concludes, “their determination forecasts the future of the nation.”
If you haven’t seen the full CMG research report, you can download a copy here.