The Government of Saskatchewan is pleased to recognize Business Development Bank of Canada (BDC) Small Business WeekTM taking place from October 20 to 26. This week celebrates the important contributions of small businesses to the Canadian economy. Small Business WeekTM was launched 40 years ago to join together entrepreneurs from all over the country.
Small businesses are classified as having less than 50 employees and are a source of quality jobs. Since 2008, small businesses have been responsible for creating 7,253 new jobs in the province. In 2018, Saskatchewan had the highest rate of small businesses in Canada, about 129 small businesses for every 1,000 people, compared to about 110 nationally.
“Small businesses help keep Saskatchewan’s communities competitive through investment, job creation and innovation of products and services,” Trade and Export Development Minister Jeremy Harrison said. “The Government of Saskatchewan is proud to recognize this week to celebrate the contribution small businesses make to the growth of our province’s economy.”
Small business in Saskatchewan is growing. In 2018, Saskatchewan’s small businesses employed 31 per cent of Saskatchewan workers, paying $6.3 billion in wages and salaries, which accounts for one-quarter of the province’s total payroll. Since 2008, wages paid by Saskatchewan small businesses grew the second fastest compared to other provinces. Saskatchewan’s 149,465 small businesses also contributed 24 per cent of the province’s gross domestic product in 2018.
The Government of Saskatchewan continues to invest in initiatives, services and programs that support small businesses in the province.
Some of these include:
To learn more about the Saskatchewan Small Business Profile 2019, visit https://www.saskatchewan.ca/business/entrepreneurs-start-or-exit-a-business/start-a-business/resources-for-starting-a-business.