This month, the province of British Columbia honours the entrepreneurial spirit by declaring October Small Business Month.
This week, The Chief honours our own hardworking business owners with a special feature on page A31, and we're pleased to acknowledge the significant contributions they make.
From restaurants to beauty parlours, computer consultants to outdoor recreation guides, garages to contractors, the local small business sector - defined as companies with five to 50 employees - is as diverse as its services.
Recent statistics have shown this sector carried more than its fair share of the load to help the province and the country survive the economic crisis that hit the rest of the world so brutally.
It was the one sector where practically no jobs were lost during the economic downfall. Approximately 34 per cent of British Columbia's Gross Domestic Product was generated by small business in 2008, the highest ratio of any province.
And dispelling notions of meager wages, recent reports indicate over 85 per cent of small business employees pay more than minimum wage, unlike many national and worldwide franchises.
According to Statistics Canada, there were approximately 384,300 small businesses operating in British Columbia in 2008, accounting for 98 per cent of all businesses in the province. About 82 per cent of these small businesses were micro-businesses with fewer than ?ve employees.
In 2009, about 395,900 small businesses were operating in B.C., providing 57 per cent of all private-sector jobs in B.C. - the highest rate in the country - and employing over one million people.
B.C. also has the highest share of self-employed workers in Canada, making up 19.7 per cent of total employment.
And it's only growing. Between 2007 and 2008, small business employment in British Columbia grew by one per cent, slightly faster than the national rate of 0.8 per cent.
There were almost 8,500 small businesses in British Columbia's high tech sector in 2008, encompassing approximately 96 per cent of all high technology businesses.
British Columbia small businesses shipped approximately $11.9 billion worth of merchandise to international destinations in 2007, representing just over 38 per cent of the total value of goods exported from the province.
And although 97 per cent of Canada's small business owners report that owning a small business gives them a sense of pride and accomplishment, according to the TD Canada Trust small business survey, they still face significant hurdles.
Cash flow, staffing, stress and government bureaucracy were at the top of the challenges listed.
And despite their strong sense of pride and accomplishment, 54 per cent believe owning their own business is more stressful than working for someone else.
Without question, small business owners are a resilient group, continually working to overcome barriers that get in the way of their success, and we're all the better for it.
So here's to the small business owners in 老澳门六合彩开奖记录资料 who strive each day to enrich our economy and our lifestyles. We owe you more than we'll ever know.
- Sylvie Paillard
