Survey on Financing and Growth of Small and Medium Enterprises, 2014
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For Information onlyThis is an electronic survey example for information purposes only. This is not a working questionnaire.
Introduction and Frame Maintenance
Purpose
The survey is designed to find out what kinds of financing small and medium enterprises are using, and to collect information on recent attempts to obtain new financing. The survey also collects information on barriers to growth, the financial position of small and medium enterprises, the characteristics of ownership and the extent to which the enterprise is involved in innovation and intellectual property.
Instructions
Hello this is (interviewer name) from Statistics Canada. I am calling about the Survey on Financing and Growth of Small and Medium Enterprises. This survey will collect information on the types of financing businesses use, on their current growth opportunities and obstacles facing businesses. The results from this survey will guide policy changes and programs to assist businesses, and measure industry performance.
Are you the person who would best be able to provide information on the financing and growth of your business?
Note: If the respondent replies "no", ask: "May I speak to the person who would best be able to answer the survey?"
This survey is being conducted in partnership with a consortium led by Industry Canada. While your participation in this survey is voluntary, your assistance is essential if the survey results are to be accurate. Your answers are collected under the authority of the Statistics Act and will be kept strictly confidential. Statistics Canada can share your information with your consent or in limited cases where permitted by the Statistics Act.
Before I begin I would like to let you know that my supervisor may listen to this call for the purpose of quality control.
Section A. Screening Questions
Section A. Screening Questions - Question identifier:A.1
Is your business...
(Mark all that apply)
- a: ...a franchise
(A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. The franchise has access to the franchisor's proprietary knowledge, processes and trademarks.) - b: ...a joint venture (A joint venture exists when two or more companies agree to contribute goods, services and/or capital to a common commercial enterprise.)
- c: ...a government agency
(A government agency is an administrative unit of government which is responsible for the oversight and administration of specific functions.) - b: ...a co-operative
(A co-operative is a business organization owned and operated by the people who use its services.) - d: ...a non-profit organization
(A non-profit organization is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals. Examples include charities (i.e., charitable organizations, trade unions, trade associations and public arts organizations.)
Section A. Screening Questions - Question identifier:A.2
Excluding the owner and contract workers, how many paid employees did your business have in 2017?
- 1: Number of employees
(Please include both full- and part-time workers. Co-operatives, should include member owners who are employed by the co-op.)
Section B. General Financing
Section B. General Financing - Question identifier:B1
Did the current owners of this business...
(Select one only.)
- 1: ...start this business from scratch?
- 2: ...buy or acquire this business?
- 3: ... inherit this business?
Section B. General Financing - Question identifier:B2
In what year was this business first established?
- 1: Year
Section B. General Financing - Question identifier:B3
In what year did the business first start selling goods and/or services?
- 1: Year
Section B. General Financing - Question identifier:B4
Which of the following sources of finance did you use to start your business?
(Mark all that apply.)
- a: Credit from financial institutions (i.e., chartered banks, caisses populaires, credit unions, Business Development Bank of Canada, Export Development Canada, Farm Credit Canada)
(Credit includes term business loans, non-residential mortgages, business lines of credit and credit cards) - b: Personal financing used towards your business
(Includes personal loans, lines of credit or credit cards from financial institutions, and personal savings of business owner(s)) - c: Financing from friends or relatives of business owner(s)
- d: Retained earnings (from previous or other business) (Retained earnings refers to the portion of net income not paid out to owners as dividends but retained by the business.)
- e: Trade credit from suppliers (A trade credit involves making a new request to purchase any materials, equipment or inventory on credit from a supplier. Trade credit debt is reported as "accounts payable" on your Financial Statements.)
- f: Capital leasing (Capital leasing includes leasing of machinery, equipment, tools, and vehicles and excludes building leasing.)
- g: Government loans, grants, subsidies and non-repayable contributions
(Do not include loan guarantees here.) - h: Financing from angel investors and venture capital providers (An angel investor is an individual (or group) unrelated to the business that provides financial backing and often advice to a business. Do not include friends or family here.)
- i: Other
Section B. General Financing - Question identifier:B5
Which of the following sources of financing did you use to purchase your business? (Mark all that apply)
- a: Credit from financial institutions (i.e., chartered banks, caisses populaires, credit unions, Business Development Bank of Canada, Export Development Canada, Farm Credit Canada)
(Credit includes term business loans, non-residential mortgages, business lines of credit and credit cards) - b: Personal financing used towards your business
(Includes personal loans, lines of credit or credit cards from financial institutions, and personal savings of business owner(s)) - c: Financing from friends or relatives of business owner(s)
- d: Retained earnings (from previous or other business) (Retained earnings refers to the portion of net income not paid out to owners as dividends but retained by the business.)
- e: Trade credit from suppliers (A trade credit involves making a new request to purchase any materials, equipment or inventory on credit from a supplier. Trade credit debt is reported as "accounts payable" on your Financial Statements.)
- f: Capital leasing (Capital leasing includes leasing of machinery, equipment, tools, and vehicles and excludes building leasing.)
- g: Government loans, grants, subsidies and non-repayable contributions
(Do not include loan guarantees here.) - h: Financing from angel investors and venture capital providers (An angel investor is an individual (or group) unrelated to the business that provides financial backing and often advice to a business. Do not include friends or family here.)
- i: Other
Section C. Debt Financing
Section C. Debt Financing - Question identifier:C1
In 2014, did your business request a non-residential mortgage or refinancing of an existing non-residential mortgage? (Include commercial mortgages and exclude residential mortgages)
- 1: Yes
- 2: No
Section C. Debt Financing - Question identifier:C2
For your business' largest request for a non-residential mortgage or refinancing of an existing non-residential mortgage in 2014, what was the dollar amount requested? (Your largest request in 2014 is the one with the largest monetary value.)
- 1: $__________
Section C. Debt Financing - Question identifier:C3
What was the outcome of this mortgage request? (Select one only)
- 1: The full amount was authorized
- 2: A partial amount was authorized: $________
- 3: Request was rejected
- 4: Request is still under review
- 5: Request was withdrawn
Section C. Debt Financing - Question identifier:C4
What reasons were given by the credit provider for turning down the request for this mortgage? (Mark all that apply)
- a: Insufficient sales or cash-flow
- b: Insufficient collateral
- c: Poor or lack of credit experience or history
- d: Project was considered too risky
- e: Business operates in an unstable industry
- f: Other
- g: No reason given by credit provider
Section C. Debt Financing - Question identifier:C5
What was the annual interest rate on this mortgage?
- 1: _________ % OR ______% + PRIME
Section C. Debt Financing - Question identifier:C6
What was the length of term of this mortgage (in months)?
- 1: Number of months
Section C. Debt Financing - Question identifier:C7
In 2014, did your business request a business line of credit or increase in the credit limit of the current line of credit?
- 1: Yes
- 2: No
Section C. Debt Financing - Question identifier:C8
For your business' largest request for a business line of credit or increase in the current line of credit in 2014, what was the dollar amount requested? (Your largest request in 2014 is the one with the largest monetary value.)
- 1: $__________
Section C. Debt Financing - Question identifier:C9
What was the outcome of this business line of credit or increase in the current credit limit request? (Select one only)
- 1: The full amount was authorized
- 2: A partial amount was authorized: $________
- 3: Request was rejected
- 4: Request is still under review
- 5: Request was withdrawn
Section C. Debt Financing - Question identifier:C10
What reasons were given by the credit provider for turning down the request for this business line of credit or increase in the current credit limit? (Mark all that apply)
- a: Insufficient sales or cash-flow
- b: Insufficient collateral
- c: Poor or lack of credit experience or history
- d: Project was considered too risky
- e: Business operates in an unstable industry
- f: Other
- g: No reason given by credit provider
Section C. Debt Financing - Question identifier:C11
What was the annual interest rate on this business line of credit or increase in the current credit limit?
- 1: _________ % OR ______% + PRIME
Section C. Debt Financing - Question identifier:C14
What was the outcome of this term loan request? (Select one only)
- 1: The full amount was authorized
- 2: A partial amount was authorized: $________
- 3: Request was rejected
- 4: Request is still under review
- 5: Request was withdrawn
Section C. Debt Financing - Question identifier:C15
What reasons were given by the credit provider for turning down the request for this term loan? (Mark all that apply)
- a: Insufficient sales or cash-flow
- b: Insufficient collateral
- c: Poor or lack of credit experience or history
- d: Project was considered too risky
- e: Business operates in an unstable industry
- f: Other
- g: No reason given by credit provider
Section C. Debt Financing - Question identifier:C16
What was the annual interest rate on this term loan?
- 1: _________ % OR ______% + PRIME
Section C. Debt Financing - Question identifier:C17
What was the length of term of this term loan (in months)?
- 1: Number of months
Section C. Debt Financing - Question identifier:C18
In 2014, did your business request a business credit card or increase in the credit limit of the current credit card?
- 1: Yes
- 2: No
Section C. Debt Financing - Question identifier:C19
For this request for a business credit card, or the largest request for an increase in the current credit card limit in 2014, what was the dollar amount requested? (Your largest request in 2014 is the one with the largest monetary value.)
- 1: $__________
Section C. Debt Financing - Question identifier:C20
What was the outcome of this request for a business credit card or increase in the credit limit of the current credit card? (Select one only)
- 1: The full amount was authorized
- 2: A partial amount was authorized: $________
- 3: Request was rejected
- 4: Request is still under review
- 5: Request was withdrawn
Section C. Debt Financing - Question identifier:C21
What reasons were given by the credit provider for turning down this request for a business credit card or increase in the current credit card limit?
(Mark all that apply)
- a: Insufficient sales or cash-flow
- b: Insufficient collateral
- c: Poor or lack of credit experience or history
- d: Project was considered too risky
- e: Business operates in an unstable industry
- f: Other
- g: No reason given by credit provider
Section C. Debt Financing - Question identifier:C22
What was the annual interest rate on this business credit card or increase in the credit card limit?
- 1: _________ %
Section D. Lease Financing
Section D. Lease Financing - Question identifier:D1
In 2014, did your business request a new contract to lease any material or equipment? (Leasing includes leasing of machinery, equipment, tools, and vehicles and excludes building leasing)
- 1: Yes
- 2: No
Section D. Lease Financing - Question identifier:D2
For your business' largest request for lease financing in 2014, what was the total value of the asset you requested to lease? (Your largest request in 2014 is the one with the largest monetary value. Please provide your best estimate)
- 1: $___________
Section D. Lease Financing - Question identifier:D3
What was the outcome of this lease financing request? (Select one only.)
- 1: The full amount was authorized
- 2: A partial amount was authorized: $________
- 3: Request was rejected
- 4: Request is still under review
- 5: Request was withdrawn
Section D. Lease Financing - Question identifier:D4
What type of asset did your business intend to acquire through this lease?(Select one only)
- 1: Vehicles
- 2: Computer hardware or software
- 3: Other machinery and equipment
- 4: Other material
Section E. Trade Credit Financing
Section E. Trade Credit Financing - Question identifier:E1
In 2014, did your business purchase a product or service on credit provided by a supplier and pay that supplier at a later date? (Also called trade credit. Trade credit debt is reported as "accounts payable" on your financial statements)
- 1: Yes
- 2: No
Section E. Trade Credit Financing - Question identifier:E2
What was the outcome of your business' largest request for trade credit financing in 2014? (Your largest request in 2014 is the one with the largest monetary value. Select one only)
- 1: A trade credit was provided
- 2: Request was rejected
- 3: Request is still under review
- 4: Request was withdrawn
Section E. Trade Credit Financing - Question identifier:E3
Please indicate the value of the largest trade credit provided. (Please provide your best estimate)
- 1: $________
Section F. Equity Financing
Section F. Equity Financing - Question identifier:F1
In 2014, did your business seek equity financing? (This could be any request for new or additional financing from an investor, venture capital supplier, angel, members of your co-operative or friend or family member in exchange for a share of the ownership of the business.)
- 1: Yes
- 2: No
Section F. Equity Financing - Question identifier:F2
Please indicate the value of equity provided. (Please provide your best estimate)
- 1: $________
Section G. Government Grants, Subsidies or Non-Repayable Contributions
Section G. Government Grants, Subsidies or Non-Repayable Contributions - Question identifier:G1
In 2014, did your business request government grants, subsidies or non-repayable contributions? (Exclude tax credits)
- 1: Yes
- 2: No
Section G. Government Grants, Subsidies or Non-Repayable Contributions - Question identifier:G2
What was the outcome of your business' largest request for a government grant, subsidy or non-repayable contribution in 2014? (Your largest request in 2014 is the one with the largest monetary value.)
- 1: A government grant, subsidy or non-repayable contribution was provided
- 2: Request was rejected
- 3: Request is still under review
- 4: Request was withdrawn
Section G. Government Grants, Subsidies or Non-Repayable Contributions - Question identifier:G3
Please indicate the value of the government grant, subsidy or non-repayable contribution provided. (Please provide your best estimate)
- 1: $________
Section H. Reasons for Not Requiring Financing
Section H. Reasons for Not Requiring Financing - Question identifier:H1
Why did your business not request external financing in 2014? (Select one only)
- 1: Financing not required
- 2: Thought the request would be turned down
- 3: Applying for financing is too difficult or time consuming
- 4: Cost of financing is too high
- 5: Unaware of financing sources (private or government) that are available to the business.
- 6: Other
Section I. General Business Information
Section I. General Business Information - Question identifier:I1
Over the last three years, what was the average yearly growth of your business' sales or total revenues? (Please provide your best estimate. The last three years refers to 2012,2013 and 2014.)
(Select one only)
- 1: Less than 0% (negative sales growth)
- 2: 0% (no growth)
- 3: Between 1% and 10% per year
- 4: Between 11% and 20% per year
- 5: 20% or more per year
Section I. General Business Information - Question identifier:I2
In the next three years, what is the expected average yearly growth of your business' sales or total revenues? (Please provide your best estimate. The next three years refers to 2015, 2016 and 2017.)
(Select one only)
- 1: Less than 0% (scale back)
- 2: 0% (no growth)
- 3: Between 1% and 10% per year
- 4: Between 11% and 20% per year
- 5: 20% or more per year
- 6: Not applicable (business will not exist)
- 7: Business cannot provide this information
Section I. General Business Information - Question identifier:I3
Which of the following are obstacles to the growth of your business? (Mark all that apply. For each item, Not an obstacle=1, A minor obstacle=2, A moderate obstacle=3, A major obstacle=4)
- a: Shortage of labour
- b: Recruiting and retaining skilled employees
- c: Fluctuations in consumer demand
- d: Obtaining financing
- e: Government regulations (please specify)
- f: Rising cost of inputs (An input is an economic resource used in a firm's production process. For example: Labour, capital, energy and raw materials.)
- g: Increasing competition
- h: Corporate tax rate
- i: Maintaining sufficient cash flow or managing debt
- j: Other
Section I. General Business Information - Question identifier:I4
In 2014, what percentage of your total sales was made to customers located:
(Please provide your best estimate)
- a: Within your local municipality or region ____% (Include all sales made within 80 km of your business in your province. Goods or services provided to customers at your place of business should be reported as local sales)
- b: Outside of your local municipality or region but within your province or territory _____%
- c: In the rest of Canada ______ %
- d: Outside of Canada (export sales) ______%
Section I. General Business Information - Question identifier:I5
Which of the following were reasons your business did not export outside of Canada in 2014? (Mark all that apply.)
- a: The local nature of your business
- b: Administrative obstacles in Canada (e.g., rules, regulations and legal requirements)
- c: Administrative obstacles outside of Canada (e.g., foreign customer requirements,product standards, technology requirements)
- d: Border obstacles (e.g., tariffs, non-tariff barriers, import quotas, customs duties,
border security issues) - e: Logistical obstacles (e.g., distance to customers, transportation costs, brokerage fees)
- f: Market knowledge issues (e.g., lack of knowledge of local language and culture,
unaware of potential export markets) - g: Intellectual property issues (e.g., concerns of violation of IP rights)
- h: Lack of financing/inadequate cash-flow
- i: Financial risk (e.g., longer payment terms or risk of non-payment from customers)
- j: Other (please specify:_______________)
Section I. General Business Information - Question identifier:I6
In 2014, what percentage of your business' total exports was made to:
(Please provide your best estimate)
- a: The United States ______ %
- b: Latin America ______ % (Latin America includes Mexico, Central and South America and the Caribbean)
- c: Europe ______ %
- d: China ______ %
- e: Other Asia ______ %
- f: Other ______ %
Section I. General Business Information - Question identifier:I7
Which of the following were obstacles that your business faced when exporting in 2014? (Mark all that apply. For each option, Not an obstacle=1, A minor obstacle=2, A moderate obstacle=3, A major obstacle=4)
- a: Administrative obstacles in Canada (e.g., rules, regulations and legal requirements)
- b: Administrative obstacles outside of Canada (e.g., foreign customer requirements, product standards, technology requirements)
- c: Border obstacles (e.g., tariffs, non-tariff barriers, import quotas, customs duties, border security issues)
- d: Logistical obstacles (e.g., distance to customers, transportation costs, brokerage fees)
- e: Market knowledge issues (e.g., lack of knowledge of local language and culture, unaware of potential export markets)
- f: Intellectual property issues (e.g., concerns of violation of IP rights)
- g: Lack of financing/inadequate cash-flow
- h: Financial risk (e.g., longer payment terms or risk of non-payment from customers)
- i: Other (please specify)
Section I. General Business Information - Question identifier:I8
In the next 3 years, does your business intend to expand sales to new markets ...(The next three years refers to 2015, 2016 and 2017. A new market could include a new geographic area, product, target market, etc.) (Mark all that apply.)
- a: Within your local municipality or region (Include all sales made within 80 km of your business in your province)
- b: Outside of your local municipality or region but within your province or territory
- c: In the rest of Canada
- d: Outside of Canada (export sales)
Section I. General Business Information - Question identifier:I9
In the next 3 years, does your business intend to expand sales to new markets within...
(The next three years refers to 2015, 2016 and 2017. A new market could include a new geographic area, product, target market, etc.)
(Mark all that apply.)
- a: The United States
- b: Latin America (Latin America includes Mexico, Central and South America and the Caribbean.)
- c: Europe
- d: China
- e: Other Asian countries
- f: Other
Section I. General Business Information - Question identifier:I10
Over the last 3 years, what percentage of your total sales was generated from contracts with the federal government? (The last three years refers to 2012, 2013 and 2014. Select one only)
- 1: 0%
- 2: Between 1% and 10%
- 3: Between 11% and 50%
- 4: 50% or more
Section I. General Business Information - Question identifier:I11
Which of the following were reasons your business did not sell to the federal government in the last 3 years? (The last three years refers to 2012, 2013 and 2014. Mark all that apply.)
- a: The federal government is not a potential client for your products or services
- b: Application process is too complicated or time consuming (e.g., insufficient
understanding of contracting process, volume of paperwork, clarity of solicitation
document) - c: Unaware of contracting opportunities
- d: Applied for a contract but was unsuccessful
- e: Other (please specify): _______________
Section I. General Business Information - Question identifier:I12
Has your business investigated the process for applying for a federal government contract over the last three years? (The last three years refers to 2012,2013 and 2014. Select one only)
- 1: Yes
- 2: No
Section I. General Business Information - Question identifier:I13
Which of the following were obstacles that your business faced when selling to the federal government? (Mark all that apply.)
- 1: 0%
- 2: Between 1% and 10%
- 3: Between 11% and 50%
- 4: 50% or more
Section I. General Business Information - Question identifier:I14
In the last three years has your business developed or introduced any of the following innovations? An innovation must be new to your business, but it does not need to be new to your market. (The last three years refers to 2012, 2013 and 2014. Mark all that apply.)
- a: A new or significantly improved good or service
(PROMPT: This may be new or improved with respect to its capabilities, user
friendliness, components or sub-systems.) - b: A new or significantly improved production process or method
(PROMPT: This may be a new or improved production process, distribution
method or support activity for your goods and services. It must be new to your
business but it does not need to be new to your market.) - c: A new organizational method in your business practices, workplace
organization or external relations
(PROMPT: It must be a result of strategic decision taken by management.
Exclude mergers or acquisitions, even if for the first time.) - d: A new way of selling your goods or services
(PROMPT: This requires significant changes in product design or packaging,
product placement, product promoting or pricing. Exclude seasonal, regular
and other routine changes in marketing methods.)
Section I. General Business Information - Question identifier:I15
As of December 2014, did your business hold any of the following types of Intellectual Property: (Intellectual Property includes 'intangible' assets such as inventions, new technologies, new brands, original software, novel designs and unique processes.)Mark all that apply.
- a: Registered trade-marks (A trade-mark is any combination of words, designs, numbers, or shapes used to distinguish the goods or services of one organization from those of others. Include registered trade-marks, enterprise and all company names (if trade-marked), enterprise logos and product logos (if trade-marked). Exclude domain names (websites).)
- b: Patents (A patent is a set of rights granted to an inventor for a limited period of time in exchange for a public disclosure of that invention. Include patents originated with previous owners, patents licensed to others, patents purchased directly by your business or obtained through mergers and acquisitions.)
- c: Registered industrial designs (Industrial designs are any combination of the visual features of shape, configuration, pattern or ornament applied to a finished article made by hand, tool or machine. Also known as design patents in the U.S.)
- d: Trade secrets (Trade secrets are information that is secret or not generally known in the relevant industry and that gives its owner an advantage over competitors.)
- e: Non-disclosure agreements (A non-disclosure agreement is a legal contract between at least two parties that outline confidential material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to by third parties.)
- f: Any other type of intellectual property protection, (please specify)
Section J. Owner Information
Section J. Owner Information - Question identifier:J1
What is the age of the primary decision maker for your business? (In the case of equal partnership, select one partner and report for that individual.)
- 1: _________years
Section J. Owner Information - Question identifier:J2
What is the highest level of education attained by the primary decision maker for your business? (In the case of equal partnership, select one partner and report for that individual. Select one only)
- 1: Less than high school diploma
- 2: High school diploma
- 3: A college/cegep/trade school diploma
- 4: A bachelor's degree
- 5: A master's degree or above
Section J. Owner Information - Question identifier:J3
How many years of experience does the primary decision maker have in owning or managing a business? (Include experience managing any business, not just this one. In the case of equal partnership, select one partner and report for that individual.)
- 1: _________years
Section J. Owner Information - Question identifier:J4
Was the primary decision maker born...
- 1: In Canada?
- 2: Outside of Canada? (please specify)
Section J. Owner Information - Question identifier:J5
How many years has the primary decision maker resided in Canada?
- 1: _________years
Section J. Owner Information - Question identifier:J6
What is the language that the primary decision maker first learned at home and still understands today? (Select one only)
- 1: English
- 2: French
- 3: Other
Section J. Owner Information - Question identifier:J7
What percentage of your business is owned by women?
- 1: _______%
Section J. Owner Information - Question identifier:J8
What percentage of your business is owned by...
- a: Aboriginal persons: _______% (Aboriginal persons refer to those persons who identify with at least one Aboriginal group, (i.e., North American Indian, Métis or Inuit). "North American Indians" are those who are a Treaty Indian or a Registered Indian as defined by the Indian Act of Canada and/or who are members of an Indian Band or First Nation.)
- b: Persons who are from a visible minority group (other than Aboriginal): _______% (Visible minority groups include someone, other than an Aboriginal person, who is non-white in colour/race, regardless of place of birth. For example, Black, Chinese, Japanese, Korean, South Asian/East Indian, Southern Asian, non-white West Asian, North African or Arab, non-white Latin American, persons of mixed origin (with one parent in one of the visible minority groups in this list), or other visible minority group).
- c: A person with a disability: _______%
(Disability refers to the limitation in the kind or amount of a person's activity because of a long-term physical condition, mental condition or health problem.) - d: Members of the same family: _______%
Section K. Data Sharing Agreement
To avoid duplication of surveys, Statistics Canada has signed an agreement with the Institut de la statistique du Québec, to share the information that you provided on this survey. It has agreed to keep your information confidential and use it only for statistical purposes. Do you agree to share your information with the Institut de la statistique du Québec?
1) Yes
3)No
Section L. Conclusion Text
Section L. Conclusion Text - Question identifier:Section L.1
According to your answers, your business does not have to answer further questions for this survey.
Section L. Conclusion Text - Question identifier:L.2
Thank you for taking your time to participate in this survey.
Please note any comments you have regarding this questionnaire.
- 1: Respondent comments
- Date modified: