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Diversity Abounds
Analysis of Waterloo Region’s Enterprise Revenues shows business diversity
Canada’s Technology Triangle, Waterloo Region - The diversity of business enterprises in Waterloo Region is evident in a new study that examines the 2006 revenues of enterprises. The report, prepared by Community Benchmarks, was released today by Canada’s Technology Triangle Inc.
Total 2006 revenue reported by the 28,688 Waterloo Region enterprises was $47 billion.
Larger businesses – those with 200 or more employees – accounted for 47.8 percent of the total revenue generated in the Region. At the other end of the employment scale, firms with fewer than 20 employees collectively represented 20 percent of the total.
Manufacturing enterprises accounted for over one-third of the total revenue at 35.5 percent. These firms, however, represented only 6.3 percent of the total number of enterprises.
From a sector perspective, automotive and other transportation equipment manufacturing led the revenue parade with 14 percent of total revenue or $6.7 billion. The other leading industry sectors by revenue were:
| 1. |
Automotive and other transportation equipment manufacturing |
$6.7 billion (14%) |
| 2. |
Building Material and Supplies Wholesaler-Distributors |
$2.8 billion (5.8%) |
| 3. |
Educational Services |
$2.4 billion (5.0%) |
| 4. |
Insurance Carriers and Related Activities |
$1.8 billion (3.9%) |
| 5. |
Machinery, Equipment and Supplies Wholesaler-Distributors |
$1.8 billion (3.9%) |
| 6. |
Food Manufacturing |
$1.8 billion (3.8%) |
| 7. |
Fabricated Metal Product Manufacturing |
$1.7 billion (3.7%) |
| 8. |
Specialty Trade Contractors |
$1.6 billion (3.4%) |
| 9. |
Machinery Manufacturing |
$1.4 billion (2.9%) |
| 10. |
Professional, Scientific and Technical Services |
$1.3 billion (2.8%) |
| 11. |
Computer and Electronic Product Manufacturing |
$1.3 billion (2.8%) |
| 12. |
Real Estate |
$1.2 billion (2.5%) |
In terms of numbers of employees, the research indicates that there are 460 enterprises in Canada’s Technology Triangle with 100 employees or more, and over 900 enterprises with 50 employees or more. Owner-operated businesses account for 55.5 percent of the 28,688 enterprises included in the data base and generate a large proportion of revenues in business sectors such as gasoline stations, real estate, animal and crop production, and building construction.
“This analysis again affirms the diversity, dynamism and entrepreneurship that marks the Waterloo Region. It highlights the importance of the manufacturing, education, insurance, professional services and realty sectors,” says John Tennant, Chief Executive Officer of Canada’s Technology Triangle Inc. “This data and information is extremely valuable to business and government in better analyzing and understanding the structure of our important regional economy.”
This is the first time that an analysis of this type has been undertaken. The data is for 2006 and was provided by Statistics Canada. The data base comprised 28,688 area enterprises. The group does not include unincorporated business (without payroll employees) earning less than $30,000/year. It does include unincorporated businesses with payroll employees and all unincorporated businesses (with or without employees) earning more than $30,000/year.
To access the report, visit http://www.techtriangle.com/UploadedFiles/2008-04-22_Revenue_Distribution.pdf
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