The definition of Small and Medium sized business varies according to different sources:
- According to Canadian Industry Profiles, a small business is defined as one with revenue between $30,000 and $5 million.A medium business has revenues between $5 million and $25 million.
- Statistics Canada defines small businesses as firms with less than 500 employees and less than $50 million in annual revenues.
- The Canadian Council of Ministers of the Environment defines business size according to the number of employees. Small Business has less than 50 employees. Medium Business has 51 to 500 employees.