As we emerge from this economic downturn, British Columbia will be stronger and better prepared to capitalize on improved global markets
The Small Business Roundtable advocates on behalf of small business in British Columbia. Since 2005, we have held 34 consultations with communities across the province – listening to over 600 small business owners and representatives – and engaged in activities that further small business interests. This report highlights activities between March 2008 and March 2009.
During this year, small businesses in British Columbia experienced a sudden shift from a sustained period of strong economic growth to an economic downturn. An economic turnaround requires renewed business investment, innovative partnerships, improved consumer confidence, diversification and job creation.
In British Columbia, small business has the ability to positively influence the current economy by sheer numbers alone. Ninety-eight per cent of all businesses in B.C. are small businesses. The approximately 384,300 small businesses employ over one million people and are responsible for generating 34 per cent of the province’s gross domestic product1. With innovation and proven resiliency, B.C. small businesses can lead the way to prosperity.
This natural resilience, coupled with the B.C. government’s continued commitment to help small businesses succeed, is helping small businesses to weather the economic storm. As we emerge from this economic downturn, British Columbia will be stronger and better prepared to capitalize on improved global markets.
In this report, we celebrate the success of small business in the province, outline the challenges facing small business in both the short and long term, report on our findings, and make recommendations to government and the small business community on ways
to further improve the small business climate in British Columbia.
In closing, we would like to welcome our new chair, Honourable Iain Black, Minister of Small Business, Technology and Economic Development. We applaud the efforts of the two chairs who have contributed to the ongoing dialogue with the small business community over the past year. In their unique and enthusiastic ways, Honourable Kevin Krueger and Honourable Ida Chong strengthened the Small Business Roundtable’s ability to listen and respond to the needs of B.C.’s small businesses.