Small businesses make up 98% of all business in B.C. and employ over one million people.

Small businesses provide 55% of all private-sector jobs in British Columbia, the second highest rate in the country.

• BC Budget 2017, the fifth consecutive balanced budget, includes several measures for supporting B.C.’s small business sector, including:
  • lowering the small business tax rate from 2.5% to 2%, effective April 1, 2017, saving small businesses an estimated $70 million annually and making it the second lowest rate in Canada;
  • phasing out the PST on electricity purchases by April 1, 2019, saving small and medium-sized businesses an estimated $50 million per year;
  • cutting MSP premiums in half for B.C. households with an annual family net income of up to $120,000, and helping small businesses who pay on behalf of their employees; 
  • increasing the B.C. Small Business Venture Capital Tax Program by $3.5 million, bringing it up to $38.5 million per year, which gives small businesses access to early-stage venture capital to help them develop and grow;
  • investing $40 million into extending the availability of rural broadband service; and
  • extending and enhancing tax credits for the tech sector, scientific research, economic development and venture capital to support innovation and commercialization.
• There were approximately 388,500 small businesses operating in B.C. in 2015 – 313,500, or 79%, have fewer than five employees.
• Between 2014-15, B.C.’s small business growth rate was over 10 times the national average.
• B.C. ranks first in Canada for the number of small businesses per capita, with 83 businesses per 1,000 people (national average is 70.3).
• Small businesses account for 35% of B.C.’s GDP, tied for first place in the country and higher than the Canadian average of 32%. 
• According to the latest statistics from 2014, small businesses exports from B.C. total approximately $12.9 billion— over 36% of B.C.’s total exports with 47% of exports destined for the U.S.A.
• B.C.’s proportion of self-employed workers was the second highest in the country in 2015, accounting for over 18% of total employment.
• B.C. has a wide variety of small businesses spanning many sectors – technology to guide outfitters, medical to agriculture, retail to natural resources.
• According to BC Stats, the top five fastest growing B.C. small business in 2014-15 were: professional, scientific and technical services with 528 new small businesses; food services and drinking places at 338; specialty trade contractors at 324; ambulatory health care at 321; and tourism at 321.
• The hospitality industry showed the highest growth in jobs in small businesses between 2010-2015 with 11,360 people hired over the five-year period.
• In the high technology sector, small businesses comprise 96% of the industry.
• There are over 1,200 Aboriginal-owned companies in British Columbia, many of which are small businesses.
• Small businesses in 88 communities throughout B.C. are benefitting from the Mobile Business License program, a collaboration between the provincial government and local governments, allowing businesses to operate in neighbouring jurisdictions using a single business license.
• BizPaL is an online tool for business-related permitting and licensing information. As of March 31, 2017, 130 B.C. communities are benefitting from the BizPaL program. Thirty-one new communities were added to BizPaL in 2016, including Tsawwassen First Nation, the first Canadian Aboriginal BizPaL partner. The District of Houston was added in 2017.
• B.C., Canada and eight partner municipalities launched an innovative online business permit and licence service pilot project in March 2017 to help entrepreneurs save time and cut red tape in the heavily-regulated restaurant sector. The participating communities are: Victoria, Kelowna, Penticton, Vancouver, the City of North Vancouver, Osoyoos, Surrey and Smithers.
• From May 31, 2016, to February 28, 2017, Small Business BC has assisted in the submission of 384 applications to the Canada-B.C. Job Grant (CJG) for a total of $1.67 million in government contributions.
• As of Feb. 28, 2017, almost 63% of all applications approved under the CJG in 2016-2017 were submitted by B.C. small businesses. The grants total over $12.5 million, with over $8.8 million in government contributions and $3.7 million from employers.
• To date, government has invested $40 million in skills training through the Canada-BC Job Grant, with employers contributing $20 million, for a total investment of $60 million invested throughout the province for skills training.