Small Business Drives British Columbia Economy
A few stats courtesy of Western Economic Diversification Canada.
Small business continues to be a key economic driver in BC, making up 98 per cent of all business in the province. Small business is the primary provider of private sector jobs in BC and last year employed over one million people.
- There were approximately 395,000 small businesses operating in the province last year – up 3 per cent from 2008.
- Small business provides nearly 57 per cent of all private-sector jobs in BC, the highest rate in the country.
- BC ranks second in Canada for the number of small businesses per capita, with 88.9 businesses per 1, 000 people.
- Women make up 35 per cent of self-employed people in BC, the fourth-highest rate in the country.
- Small business accounts for 32 per cent of BC’s gross domestic product, above the Canadian average of 28 per cent.
- For the third straight year, BC’s share of self employed workers was the highest in the country, accounting for 19.7 per cent of total employment.
- The number of self-employed people in BC rose 14.0 per cent between 2004 and 2009, well above the natural average of 10.1 per cent.
Find the entire Small Business Profile 2010 at www.bcstats.gov.bc.ca