Small Business Reality Check: Why Business Coaching in Canada Isn’t a Luxury — It’s a Lifeline

Small Business Reality Check

Small business is the backbone of Canada’s economy — but the numbers reveal a tougher reality. According to Innovation, Science and Economic Development Canada, over 1.07 million small businesses drive local jobs and innovation. Yet many owners are fighting uphill battles with profitability, cash flow, and burnout.

Here are five data-driven reasons business coaching is no longer optional for small-business success in Canada — and especially here in Victoria BC.

Only half of Canadian small businesses survive ten years

Roughly 46 % of service-sector and 51 % of goods-sector small firms make it to their tenth year. By twenty years, fewer than one in three remain.

A certified business coach can help founders in British Columbia create systems, financial discipline, and decision frameworks that dramatically increase survival odds.

One in three small firms saw revenues fall last year

30.5 % of small businesses with fewer than twenty employees reported lower revenue in 2023; 31 % expect profitability to drop further.

A professional coach helps translate market turbulence into strategic focus — turning reactive firefighting into long-range planning.

Rising costs and stress threaten owner well-being

Over 70 % of small employers expect major cost pressures this quarter. Nearly half say management will work longer hours just to cope.

Coaching provides a thinking partner — helping entrepreneurs in Vancouver Island and across Canada reduce overwhelm, delegate effectively, and realign energy toward growth instead of exhaustion.

Underserved founders face steeper odds

Studies show Indigenous-owned firms are 18 % more likely to exit and report lower productivity. Coaching bridges gaps in access to networks, mentorship, and strategy — essential ingredients for equitable success.

Most Canadian entrepreneurs start small — and stay small

More than 90 % of new firms begin with just one to four employees. Early coaching builds a scalable foundation — smart pricing, cash-flow systems, and leadership habits — before cracks appear.

Why Coaching Works

The best business coaching aligns performance with purpose. It’s about clarity under pressure, accountability without judgment, and systems that serve both profit and people.

At Values Driven Achievement, we help leaders connect who they are with how they lead — so their businesses grow without costing their health, relationships, or sanity.

Call to Action

If you’re running a business in Victoria, BC, Nanaimo, BC or anywhere on Vancouver Island, British Columbia or in Canada? It might be time to talk.

→ Book a discovery session with Adam Kreek

→ Learn more about our Business Coaching for BC Entrepreneurs program.

Author: Adam Kreek — Olympic gold medallist, executive coach, and founder of Values Driven Achievement. Helping Canadian entrepreneurs build stronger systems, better teams, and lives that work as well as their companies do.

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Adam Kreek authored the bestselling business book, The Responsibility Ethic: 12 Strategies Exceptional People Use to Do the Work and Make Success Happen. 

Want to increase your leadership achievement? Learn more about Kreek’s coaching here.

Want to book a keynote that leaves a lasting impact? Learn more about Kreek’s live event service here.