Canadian business history dates back to the 1600s. It has gone a long way from bartering to encompassing digital investments and technological advancements. The FortRoddHill team has analyzed data from credible sources, including insights from economic historians and technology experts. This research has helped us provide our readers with the most comprehensive picture of how business has evolved in Canada. We will list the most famous business leaders whose contribution to the history of commerce can hardly be overestimated.
History of Business Intelligence in Canada
The history of business in Canada cannot be learned without determining the definition of intelligentsia. This status level includes people engaged in mental work who take an active social position, create practical and theoretical knowledge, and serve as moral compasses — for example, teachers, scientists, and writers.
In Canada, business intelligentsia emerged in the late 19th and early 20th centuries, influenced by industrialization, urbanization, and the rise of corporate capitalism. This group includes specialists in finance, management, and entrepreneurship. They often acquire knowledge in business schools and technical institutes and use it to build an economic model based on practical experience.
In the 20th century, the Canadian business intelligentsia advocated innovation policies, free trade, and infrastructure development. Today, the intelligentsia continues to play an essential role in business history. Members of this class believe that their goal is to contribute to the sustainable growth of the country’s economy. They take into account market conditions and societal concerns.
History of Canadian Business
The FortRoddHill experts have examined the history of the creation and development of the business class in Canada from its beginnings to the present day. We’ve divided the information into time frames and analyzed each in detail.
Pre-colonial Trade Era (Prior to 1600)
The history of business in Canada started before the 1600s. Indigenous peoples were involved in barter networks across the continent. They exchanged furs, tools, materials, ceremonial items, and food. It was the way the first trade routes between communities were created. For example, obsidian from the Rocky Mountains was highly valued for its durability. It travelled thousands of kilometres before reaching its final destination. Other examples are marine resources like dried salmon and shellfish. Coastal dwellers traded it for tools produced in the inland parts of Canada. This empowered communities to sustain themselves with resources and solve problems such as food shortages.
The trade networks of the time allowed indigenous peoples to obtain the products, tools, and weapons they needed. They also facilitated the exchange of knowledge and cultural traditions, marriages, and peace treaties. For example, the Forks Market in Winnipeg was the most famous meeting place for the different communities.
Fur Trade Era (1600s-1800s)
After contact with the Europeans, a new milestone in Canadian business history began. At that time, companies such as the Hudson’s Bay Company (HBC) and the North West Company (NWC) developed many new territories and established dozens of trading posts.
The HBC was granted a monopoly over Rupert’s Land, a vast territory covering most of present-day Canada. The company got a leading position in the trade of beaver pelts, for which demand was very high in European markets. York Factory, a trading post, was established to ship the furs to Europe. The NWC, in turn, hired voyageurs to create new inland trade routes. These actions transformed a small coastal zone into a large area of economic activity. Indigenous people played a significant role in this trade development timeline. They acted as territorial guides and intermediaries.
Although the deals allowed for the expansion of trade routes, the Fur Trade Era was not the best period in Canada’s history of business. Extreme beaver extraction led to an ecological imbalance, and large quantities of alcohol from Europe flowed into Indigenous territories, leading many people to develop addictions. By the early 19th century, the demand for furs in Europe had declined, marking the end of the Fur Trade Era.
Industrial Revolution and Nation Building (1850s-1914)
In 1867, an important event in business history occurred with the Confederation of Canada, which unified markets and laid the foundation for a unified national infrastructure. At the same time, manufacturing, railroads and urbanization developed. In 1885, the Canadian Pacific Railway (CPR) was completed. This event made it much easier to transport goods and resources over long distances and provided a stable agricultural export route. The establishment of the Dominion Bank in 1869 and the Toronto Stock Exchange in 1852 showed that financial markets were playing an increasing role in the economy. At the same time, fabric production expanded in Quebec and Ontario, and several shipbuildings and steelworks were established.
The Industrial Revolution led to the growth of the middle class. All government actions, such as introducing Protective tariffs under the National Policy of 1879, aimed to diversify the economy and protect national production, so this period can be considered the heyday of the history of business intelligence in Canada.
Wartime and Resource Development (1914-1945)
Canada transformed from an agrarian country to a modern industrialized nation precisely during the World Wars, which affected the economy and business. During World War I, consumer goods factories were converted to make ammunition, weapons, and vehicles. Steel production also expanded. The famous Algoma Steel and Dominion Steel and Coal Corporation significantly increased their operation rates to supply the Allied powers with needed materials.
The government encouraged the production of meat, wheat, and dairy products to meet domestic and international food needs. The development of resources available within Canada also continued. In 1914, oil was discovered in Turner Valley, Alberta, and nickel was produced in Sudbury, Ontario.
During World War II, Canada supplied the Allies with tanks, artillery shells, and airplanes. The shipyards built hundreds of vessels, including corvettes and cargo ships. At the same time, Canadian scientists and engineers contributed to research aimed at developing military technology.
Post-war Boom (1945-1970)
The transition to the peacetime industry characterizes the history of business and economics in Canada in the post-war era. The auto industry became the dominant force. Windsor and Oshawa became centres for automobile manufacturing, and General Motors, Chrysler, and Ford opened plants there. Another significant event is the completion of The St. Lawrence Seaway. It reinforced Canada’s role as an international trading power.
Government initiatives also drove industrial development. For example, the Hydro-Québec Crown Corporation provided electricity to rural areas, allowing manufacturing to grow there as well.
Building and selling real estate was profitable at that time, as many people moved from villages to cities and suburbs. At this time, more and more new jobs were being created, and workers’ wages were rising. As a consequence, the purchasing power of the population was growing.
Energy and Financial Era (1970s-1990s)
Canada’s economic and business history at that time was almost entirely devoted to oil and gas development. Syncrude and Suncor were the leading oil producers in Alberta. Their efforts have resulted in Canada being recognized as one of the world’s energy leaders. Earlier in the 1970s, a hydroelectric plant was created in Quebec, providing a steady energy supply for the province.
This period also transformed the financial sector. The importance of capital markets increased, so the Toronto Stock Exchange (TSX) became one of the most famous in the world. The 1980s were marked by the deregulation of banks. As a consequence of this decision, banks could enter international markets.
However, this period of the history of business and economics was not entirely rosy. The widespread oil production and construction of hydroelectric power plants left their mark, and Canada was on the brink of an ecological crisis. Businesses and governments faced a new challenge: managing resources wisely to prevent the situation from worsening.
Digital and Global Era (1990s-Present)
The rise of the technology industry characterizes the modern historical period. At that time, many technology companies emerged in Canada, such as BlackBerry, which has become a leader in mobile services worldwide. Another example is Shopify, which has positioned Canada as an e-commerce and digital entrepreneurship centre.
International agreements have also created new business opportunities. The North American Free Trade Agreement (NAFTA) and the Canada-United States-Mexico Agreement (CUSMA) deserve special mention. They helped Canada increase its import and export capabilities and the number of jobs.
The financial sector has also changed. Thanks to online banking, AI, and blockchain technology, financial services have become more accessible. The COVID-19 pandemic has accelerated the adoption of digital technologies. Thus, electronic communication and online commerce have become increasingly common in Canada.
Famous Business Leaders in Canadian History
Canada was home to many outstanding business people. They have significantly contributed to history, but some of them have been extremely successful. The FortRoddHill experts have highlighted three famous business leaders in history whose efforts have led to the country’s prosperity:
- Timothy Eaton (1834–1907). He revolutionized the retail industry in Canada by introducing the principle of “satisfaction guaranteed or money refunded.” He also allowed people to order goods from his shopping centre by mail, increasing accessibility in remote regions.
- Samuel Bronfman (1889–1971). Seagram’s founder skillfully capitalized on the demand for liquor in the United States during Prohibition, causing the Canadian liquor industry to boom.
- Martha Matilda Harper (1857–1950). The founder of Harper Method Salon is one of the world’s most famous businesswomen. She created the first reclining hair salon chair and launched a modern retail franchise with over 500 salons.
Summary
The FortRoddHill team has analyzed the history of the business class in Canada from the 1600s to the present. Entrepreneurs have always played an important role in developing the economy. Thanks to their efforts, Canada has become a prosperous country. In our business history review, we highlighted three outstanding entrepreneurs: Timothy Eaton, Samuel Bronfman, and Martha Matilda Harper. Their contributions to the Canadian economy are the greatest.
Nowadays, technology is moving forward, and the business environment is changing with it. Modern businesses should be able to adapt to these changes. If they can do so, they will ensure the sustainability of the Canadian economy in the future.