Innovation and job creation are the foundation of a healthy economy. In British Columbia, we rely on the small-business community for both of these precious resources. Entrepreneurs embody the strength and character that help make our province great.
As we celebrate both Small Business month and National Small Business Week, let’s salute the entrepreneurial dreamers, darers and doers. They represent the backbone of the B.C. economy:
- 98 per cent of all businesses in this province are small businesses,
- Small business provides 55 per cent of all private-sector jobs,
- One million people are employed by small businesses,
- Small business generates 31 per cent of the province’s GDP.
Your government is committed to making B.C. the most small-business friendly jurisdiction in Canada.
That’s why B.C. cut the small-business corporate income tax rate in 2008 from 4.5 to 2.5 per cent – a 44 per cent reduction. This remains among the lowest rates in Canada, and we are committed to lowering the rate by a further 40 per cent.
It is also why the BC Jobs Plan includes targeted measures to support small businesses. These measures include: further expanding the Small Business Venture Capital Program by an additional $5 million in 2015-16; expanding the Mobile Business Licence program; and, increasing small business-government procurement spending by 20 percent.
In what can often be misperceived as a dog eats dog world, local Cloverdale businesses have shown a contrary philosophy of one for all and all for one.
Take a closer look next time you enter your favourite local business – you’ll likely find materials promoting neighbouring shops, restaurants and events. This is done to share customers and encourage both a sense of community and a ‘buy-local’ economy. Do your part by shopping local on Shop Small Business Day, Oct. 25, 2014.
There is a lot to celebrate during Small Business Month. So please join me in thanking and supporting small business owners. They do more than just create jobs. They are our local philanthropists, our volunteers and our neighbours.
To learn more about Small Business Month go to: www.smallbusinessbc.ca.
And between Oct. 1 and Nov. 30, 2014, you can nominate your favourite business for a Small Business BC Award: http://sbbcawards.ca.
– Surrey-Cloverdale MLA Stephanie Cadieux is Minister of Children and Family Development. She tweets @MLACadieux
