BC Gov News

• Small business makes up 98 per cent of all business in the province and employs over one million people.
• Small business provides nearly 56 per cent of all private-sector jobs in British Columbia, the highest rate in the country.
• There were approximately 385,100 small businesses operating in the province in 2011.
• British Columbia ranks first in Canada for the number of small businesses per capita, with 84.2 businesses per 1,000 people.
• Women make up more than 37 per cent of self-employed people in British Columbia, the second-highest rate in the country.
• Small business accounts for 29 per cent of British Columbia's Gross Domestic Product (GDP), higher than the Canadian average of 27 per cent.
• British Columbia's share of self-employed workers was the highest in the country, accounting for 18.5 per cent of total employment.
• Between 2010 and 2011, small business employment in the province fell one per cent, however small businesses have fared relatively well in the last five years, increasing employment by 2.6 per cent since 2006.
• Small businesses in British Columbia shipped about $16.9 billion worth of merchandise to international destinations in 2010. That's over 55 per cent of the total value of goods exported from the province.
• In 2011, small business provided 32 per cent of all wages paid to workers in British Columbia, the highest share of all provinces.
  

Government Support of Small Business:

• On March 19, 2013, the B.C. government announced the creation of the BC Small Business Accord, which was developed with input from over 35,000 individuals. The accord contains a list of principles which will hold government accountable to making B.C. the most business-friendly jurisdiction in Canada.
• In 2008, government cut the small business corporate income tax rate from 4.5 to 2.5 per cent.  This remains the second lowest rate in Canada. 
• Government has raised the small business tax threshold from $200,000 to $500,000, making B.C.'s the highest threshold in Canada and saving small businesses $20 million a year. 
• The Small Business Venture Capital program's $33 million budget enables equity investment up to $110 million yearly. The Cleantech budget is $7.5 million in tax credits, enabling equity investment up to $25 million yearly.
• Since 2001, B.C. has reduced regulatory requirements by approximately 43 per cent, and has committed to a net zero increase in regulations through to 2015. 
• Number of regulatory requirements in 2001: 360,295
• Number of regulatory requirements today: 205,950 (as of December 31,2012) 
• B.C. has partnered with the federal government to deliver the BizPaL service - an online tool to help small businesses find information on the permits and licences needed from three levels of government for business start-up and operation. So far, BizPaL is available in 112 B.C. communities.
• Government created a permanent Small Business Roundtable in 2005, giving small businesses a voice in government. The roundtable has hosted consultations in all regions of the province to engage 1,040 small business owners.
• The Mobile Business Licence program was expanded in 2013 with the addition of 12 communities in the lower mainland.  The program is now offered in the following communities, allowing mobile businesses to purchase an additional mobile licence that allows them to operate in all participating municipalities with one licence:
• Okanagan-Similkameen: Armstrong, Central Okanagan, Coldstream, Enderby, Kelowna, Keremeos, Lake Country, Lumby, Oliver, Osoyoos, Peachland, Penticton, Princeton, Salmon Arm, Sicamous, Spallumcheen, Summerland, Vernon and West Kelowna.
• Greater Victoria: Central Saanich, Colwood, Esquimalt, Highlands, Langford, Metchosin, North Saanich, Oak Bay, Saanich, Sidney, Sooke, Victoria and View Royal.
• Trail: Trail, Rossland, Warfield, Montrose and Fruitvale.
• Cowichan Lake: Duncan, North Cowichan, Lake Cowichan and Ladysmith.
• North/West Vancouver: City of North Vancouver, District of North Vancouver and District of West Vancouver.
• Courtenay/Comox: Courtenay and Comox. 
• Fraser Valley: City of Langley, Township of Langley, Surrey, Abbotsford, Chilliwack, Mission, Maple Ridge, Pitt Meadows and Hope
• Tri-Cities: Port Moody, Port Coquitlam and Coquitlam
  

Contact:

Media Relations
Ministry of Jobs, Tourism and Skills Training and Responsible for Labour
250 387-2799