There’s nothing small about the impact small businesses have on B.C.’s economy according to the 2015 Small Businesses Profile, released today.

Approximately 33% of the province’s gross domestic product is generated by B.C.’s small businesses – well above the Canadian average of 30%.

The Small Business Profile is an annual statistical report which demonstrates the important role small businesses play in B.C. through job creation, economic investment, exports and contributions to the province’s gross domestic product.

Some of the 2015 Profile highlights include:

• For the fourth year in a row, B.C. ranks first in Canada (tied with Saskatchewan) for the number of small businesses per capita with 82.6 small businesses per 1,000 people.
• Small businesses employ over one million British Columbians, which is 54% of all private sector jobs in B.C.
• B.C.’s small businesses shipped approximately $11 billion worth of merchandise to international destinations in 2014 which is more than one-third of all the goods exported from the province. Forty-two per cent of those goods went to destinations outside the US, which means small businesses are helping strengthen our economy by diversifying our trading relationships beyond North America.
• About 382,600 small businesses were operating in B.C. in 2014, representing approximately 98% of all businesses in the province.

Produced by the Province and BC Stats, the Small Business Profile is released every October.

Quotes:

Coralee Oakes, Minister Responsible for Small Business and Red Tape Reduction and Responsible for the Liquor Distribution Branch –

“Small business continues to be the economic engine of our province – generating a whopping 33% of the province’s gross domestic product. I want to thank the thousands of small business owners in communities all around B.C. who contribute so much to our economy and employ more than one million British Columbians.”

George Hunter, CEO Small Business B.C. –

“Small businesses are a cornerstone of the B.C. economy, employing more than one million British Columbians. These businesses are critical to the economic health of every community in B.C. and we are delighted to enable these entrepreneurs with tools and resources, as well as celebrate their contribution to the well-being of every British Columbian.”

Learn More:

Small Business Profile: http://www.resourcecentre.gov.bc.ca/pdf/SmallBusEngWeb.pdf

Small Business Profile highlights: http://www.resourcecentre.gov.bc.ca/pdf/SB-Highlights.pdf

Small Business Resources: http://www.resourcecentre.gov.bc.ca/pdf/Small_Business_Resource_Handout.pdf