Small business week, which this year takes place from October 14 to 20, provides an annual opportunity to mark the importance of this sector in our economy and the fabric of the community. It is a fitting time to recognize the vital role small businesses play not only in small communities like Powell River, but provincially and nationally.
Small business is a huge economic driver in BC, employing over one million people. In fact, 98 per cent of all businesses in BC are small businesses.
Nationally, small and medium-sized businesses are the cornerstone of the Canadian economy. They account for 99.8 per cent of all Canadian companies and employ more than 60 per cent of private sector workers.
Small businesses diversify the economy, a necessary strategy for towns like Powell River that are gradually leaving their dependence on one large company in the past. Combined, small businesses become an economic engine, one that reinvests in the community and contributes to its growth.
Small businesses contribute energy, creativity and a certain flair to the community. They provide a place to have coffee with friends or business acquaintances, a venue for artists and writers to display their work, an opportunity to explore exotic and cutting-edge cuisine, as well as offer services and skilled trades residents need, such as contractors, plumbers and electricians.
Small business owners provide inspiration to people thinking about starting up a business of their own, further expanding the economic base. As well, they are models for the community’s young people, those who decide not to pursue an academic education after graduating from high school or those who decide to move back home with their degrees in hand.
Young people can often find jobs with small businesses. Or they may decide to start a business after seeing that, while it involves long hours and hard work, it can be fulfilling and exciting to be your own boss.
In Powell River, a variety of services are available to small business owners to assist them through the maze of business planning and bureaucratic red tape people have to negotiate when starting up or expanding.
Both Powell River Community Futures and Powell River Regional Economic Development Society have established programs to support business owners. As well, Powell River Chamber of Commerce assists small businesses in a variety of ways.
It isn’t easy being a small business owner. This week gives us an opportunity to take the time to celebrate the courage, determination and dedication of each and every small business owner in our community.
