SMALL BUSINESS PROFILE 2021 - British Columbia

2y ago
2.18 MB
84 Pages
Last View : 1m ago
Last Download : 5m ago
Upload by : Abby Duckworth


S MA L L B U S I N E S S P R O F I L E 2021A profile of small business in British ColumbiaCONTENTSExecutive Summary1Spotlight on British Columbia’s Business Landscape:Some Key Indicators4Small Businesses and COVID-195The Small Business Profile 2021 is produced by the B.C.Ministry of Jobs, Economic Recovery and Innovation. Thereport was prepared by BC Stats in partnership with theSmall Business Branch of the Ministry.Information on programs and services for small businessescan be obtained by contacting:1. Small Business Growth122. Small Business Employment28Small Business BCwww.smallbusinessbc.caEmail: askus@smallbusinessbc.caTelephone: 604.775.5525Toll Free: 1.800.667.2272601 West Cordova St.Vancouver, B.C. V6B 1G13. Profile of Self-employed in British Columbia37Statistics related to small business are available at:4. Contribution to the Economy455. Small Business Exporters52Conclusion61BC BC.Stats@gov.bc.ca563 Superior St.Box 9410 Stn Prov GovtVictoria, B.C. V8W 9V1Technical Notes62Glossary63Index65List of Figures67Appendix 1: Counts of Small Businesses withEmployees by Industry by Region, 2015-202069Appendix 2: British Columbia Self-employmentby Age and Gender73Appendix 3: COVID-19 Related Change in Employmentfor Selected Industries74Small Business Resources78Information on provincial government programsand services can be found at:Ministry of Jobs, Economic Recovery and InnovationSmall Business SmallBusinessBranch@gov.bc.caTelephone: 250.387.4699Fax: 250.952.0113Box 9822 Stn Prov GovtVictoria, B.C. V8W 9N3This publication is also available electronicallyon the following web sources

EXECUTIVE SUMMARYIn British Columbia, compared to other provinces, there aremore small businesses per capita, they employ a larger shareof the workforce, and self-employment is more commonthan in any other province. The vast majority of businesses aresmall businesses – 98 per cent. In a province with 5.1 millionpeople and 523,600 small businesses, roughly one-in-tenBritish Columbians are small business entrepreneurs of somekind, from private tutors to professional firms to exportingmanufacturers and more.The 2021 B.C. Small Business Profile gives data and analysison small businesses and their impact on B.C.’s economy in2020. Defined as businesses with fewer than 50 employees,small businesses have long played a critical role in B.C.’sgrowing economy. The information here can help policymakers support small businesses to better position themto scale-up and grow by identifying areas of opportunityand highlighting areas in which B.C.’s small businesses havebeen successful.This is the 25th annual Small Business Profile, but 2020 wasnot a normal year and this year’s version will reflect that.The COVID-19 pandemic took a heavy toll around the world.Whereas the report has always intended to analyze long-termtrends and to keep its statistics comparable from year-toyear, this year’s report pays special attention to short-term(one-year and monthly) statistics that show what effect thepandemic had on small businesses and their employees inB.C. For example, B.C. lost relatively more jobs during the earlymonths of the pandemic than almost any other province(15.5 per cent between February and April 2020, third hardesthit in the country) but also recovered those lost jobs morequickly than any other province (by June, employment in B.C.was 0.5 per cent above pre-pandemic employment).This report provides vital statistics on small businesses in2020. Small businesses employed almost 1.1 million peopleor 43 per cent of all workers and were responsible for nearlyone-third (31 per cent) of all payrolls. In 2020 on averageSmall Business Profile 2021and compared to other provinces, B.C. lost more jobs inthe small business sector relative to our size (we lost 6.6per cent of employment in the sector), but still leads thecountry in growth over the five-year period of 2015 to 2020.All regions of B.C. saw a decline in the number of smallbusinesses in 2020, with the Northeast and Cariboo seeingthe largest losses.Demographics of self-employed people show that, onaverage, they tend to be older, male, work longer hoursand are less likely to be an Indigenous person compared toemployees. Women are still a vital and growing part of selfemployment, comprising 39 per cent of all business ownersin B.C. in 2020, just above the national average. Indigenouspeople are self-employed at a rate of 11.4 per cent, also justabove the national average.Small business in B.C. accounted for 34 per cent of overallgross domestic product (GDP) in 2020, and the 9,000medium and large sized businesses accounted for theother 66 per cent of GDP. Taken together, GDP, salaryand employment estimates present a broad picture ofproductivity. Larger firms tend to be more productive,support higher investment, and pay higher wages (onaverage 9,400 more per year) than small businesses. At thesame time, B.C. has the smallest gap between small andlarge business salaries in the country. Strategies that supportB.C.’s small businesses to scale-up and grow will help ourprovince innovate and prosper.Small business exporters shipped almost 15 billion worth ofgoods abroad in 2020, 36 per cent of all goods exports. Therewere almost 6,000 small business exporters, 86 per cent of allexporting firms.Small business is big business in B.C. Our province’s abilityto compete as a desirable place to live, invest and dobusiness is thanks in large part to the contributions smallbusinesses make to the economy.1

HIGHLIGHT FIGURE 2Number of Self-Employed Business Ownersin British Columbia, 2020HIGHLIGHT FIGURE 1Percentage of Businesses by Sizein British Columbia, all businesseswith fewer than50 employees37%Self-employedwithout paid help61%200150100Businesses with 50or more employees2%(Total: 532,400)0With paid helpHIGHLIGHT FIGURE 3Small Business Contribution to GDP by Province, 2020%HIGHLIGHT FIGURE 4Export Intensity for Small Businesses by Province, 20201630% Canadian average3512251020815610452BCABSKMBONQCSource: BC Stats using data supplied by Statistics Canada2NBNSPENL Millions14300Without paid helpSource: Statistics Canada / Prepared by BC StatsSource: BC Stats using data supplied by Statistics Canada40500Canada ( 3.3 million)BCABSKMBONQCAtlanticSource: Statistics Canada / Prepared by BC StatsSmall Business Profile 2021

HIGHLIGHT FIGURE 5Breakdown of Businesses by Size in British Columbia, 2020*Number ofbusinessesPer centof totalGrowth2015-2020 (#)Growth rate2015-2020Total businesses with 0 to 4 employees444,00083%46,00011.6%Self-employed without paid help326,50061%38,10013.2%Businesses with 1 to 4 employees117,50022%7,9007.2%Businesses with 5 to 9 employees38,5007%1,5003.9%Businesses with 10 to 19 employees25,2005%2,0008.7%Businesses with 20 to 29 employees9,1002%6007.7%Businesses with 30 to 49 %1,00012.7%532,400100%51,70010.8%Total small businessesTotal large businesses (50 employees)Total all businesses* Figures do not add due to roundingSource: BC Stats using data supplied by Statistics CanadaSmall Business Profile 20213

Spotlight on British Columbia’s Business Landscape:Some Key IndicatorsA fertile business environment can be advantageousto a province’s competitiveness, stimulating businessformation and growth. B.C. compares favourably withother provinces in its strength in several key businessstimulus indicators, some of which are highlightedhere. Lower levels of taxation can stimulate investment,while an overall vibrant economy can encouragea skilled labour pool and business networkingopportunities.The small business tax rate in B.C. (2.0 per cent in 2021)remains among the lowest in the country, on par withAlberta and Saskatchewan (each 2.0 per cent), and onlyhigher than Manitoba, where the small business taxrate is zero. Since Quebec dropped its rate in 2021, itno longer has the highest small business tax rate but istied with Ontario at an effective rate of 3.2 per cent.Small Businesses Tax Rates, by Province, alue of Building Permits Issued, by Province,Growth 2019-202050403020100-10-20-1.8% Canadian averageBCABSKMBONQCNBNSPENLSource: Statistics Canada / Prepared by BC StatsUnlike building permits, high numbers of bankruptciesindicate a less favourable business environment, but B.C.had the second lowest business bankruptcy rate in thecountry after Prince Edward Island. In 2020, B.C.’s rate was0.12 bankruptcies per 1,000 businesses, or a total of 80business bankruptcies. The rate of bankruptcies went uponly slightly in 2020 in B.C. (from 0.10 in 2019 to 0.12),whereas it fell in most other provinces, likely the resultof the business supports put in place because of theCOVID-19 pandemic. Whether there is a tide of delayedbankruptcies waiting to happen is unknown, but as ofMay 2021 there had been no significant increase. BCStats publishes bankruptcy data for B.C. on its websiteand will continue to monitor the figures.Business Bankruptcy Rates, by Province, 2020Source: B.C. Ministry of Finance / Prepared by BC StatsAnother measure of the overall health of an economyand business environment is strong building activity.The value of building permits issued in the provinceamounted to almost 17 billion in 2020, an 11.3 per centdecrease from 2019. Nationally, planned spending fell1.8 per cent in 2020 to 101 billion. On a per capita basis, 3,280 of non-residential building permits were issuedin 2020 in B.C., which is the second-highest rank in thecountry after Prince Edward Island and 23.3 per centhigher than the national average.% Change1.6Bankruptcies per 1,000 businesses1. Canadian average0. Innovation, Science and Economic Development Canada / Prepared by BC Stats4Small Business Profile 2021

SMALL BUSINESSES AND COVID-191The COVID-19 pandemic made 2020 an out of the ordinary year for small businesses.By May of 2020, about 10 per cent of businesses in B.C. had closed.2 Some of the worst-hit industriesincluded those where small businesses are most prevalent, like food and beverage services (21 per centclosed by May), arts, entertainment and recreation (17 per cent), and “other” services (17 per cent, andlargely represented by personal care and repair and maintenance businesses).Fortunately, many of those businesses soon reopened.3 B.C. also saw new entrants during the pandemic.As of April 2021, there were 2.2 per cent more active businesses in B.C. than there were in February 2020.Industries such as accommodation had not recovered fully (still 1.1 per cent fewer active businesses),while the construction and professional services industries were up by a healthy five to six per cent.FIGURE C-1Change in the Number of Active Businesses in B.C. for Selected Industries,April 2021 Compared to February 2020Change atminimumpointDate ofminimumBusinessesclosed bythat dateRecovery – percent change asof April 2021Business sector industries-10%May-20-15,300 2.2%Accommodation-14%May-20-200-1.1%Arts, entertainment and recreation-17%May-20-500 0.6%-8%Apr-20-1,600 5.3%Food and beverage services-21%May-20-1,600-0.9%Other services-17%May-20-1,800-1.0%-3%Jun-20-600 6.0%-12%May-20-1,800 0.1%ConstructionProfessional, scientific and technical servicesRetail tradeSource: BC Stats using data supplied by Statistics CanadaWhile some of these closures were undoubtedly part of the regular churn of business, the impact ofCOVID-19 was still dramatic. Prior to the pandemic, about 7,000 businesses closed in an average monthin B.C. while a similar number opened for the first time or reopened after being temporarily inactive.During the first wave of the pandemic, March through May 2020, about 13,500 businesses were closingper month. However, as businesses recovered during the latter half of the year, 2020 as a whole onlysaw an average net loss of about 180 businesses per month. In the first four months of 2021 there hasbeen a net increase of 730 new businesses per month.123Note that this section is up to date to August 26, 2021. The data here looks at month-to-month comparisons and does not align with statistics in other parts of the report, which are annualized.Statistics Canada, Experimental estimates for business openings and closures. Table 33-10-0270. This data measures businesses in the national Business Register on a monthly basis and defines thata business is active or “open” when it files a mandatory payroll return and has any employment in a month.Results from the Canadian Survey on Business Conditions suggests that by October, 23.6 per cent of B.C. businesses had shut down temporarily but had since reopened.Small Business Profile 20215

FIGURE C-2Average Monthly Business Openings and Closings in B.C., 2015-20219,000Closing businessesOpening 02015201620172018201920202021 (to Apr)Source: Statistics Canada / Prepared by BC StatsEmployment ImpactsIn terms of employment, B.C. lost 370,000 jobs between February and April 2020 and the unemploymentrate shot up from 5.1 to 13.4 per cent. Many more people were affected in other ways – by April; 233,000 people were still employed but worked zero hours, 39,000 worked less than half their hours, 128,000 additional people were on temporary layoff, and 188,000 others wanted work but weren’t looking because they didn’t expect to find it.4Industries were impacted very differently. Figure C-3 shows the worst point of the pandemic foremployment (in green) and how much it had recovered by June 2021 (in yellow), represented as apercentage of the industry’s employment in February 2020 (the orange line). The 54,000 jobs in thearts, entertainment and recreation sector were affected the most: at the worst point of the pandemicthey had lost 62 per cent of their employment and as of June 2021 they’re still down by 37 per cent oralmost 20,000 jobs. More jobs overall were lost in accommodation and food services, which employed225,000 people in February 2020. By April 2020, the sector had lost 54 per cent of employment, and asof June 2021 was still down by 20 per cent or almost 45,000 jobs.Other industries which represent a large number of small businesses but weren’t as severely affectedinclude the professional, technical and scientific services sector; retail trade; and construction.See Appendix 3 for a chart and table of employment effects at a more detailed industry level.46Statistics Canada. See the Labour Force Survey Supplementary Indicators.Small Business Profile 2021

FIGURE C-3Change in Employment by Industry, Indexed to the Level of Employment in February 2020Feb 20Minimum PointJune 212328K All industries, total160% 14K Forestry, logging & support132K Public administration78K Other services (except public administration)140%100%225K Accommodation & food services18K Mining, quarrying, and oil & gas extraction12K Utilities80%54K Arts, entertainment & recreation60%161K Construction20%151K Manufacturing282K Health care & social assistance98K Wholesale trade197K Educational services102K Administrative & support, wastemanagement & remediation services281K Retail trade18K Management of companies and enterprises139K Professional, scientific & technical services44K Real estate &rental and leasing90K Finance& insurance117K Transportation& warehousing58K Information &cultural industriesNote: To judge the scale of the changes, the number before the industry name indicates the level of employment in February 2020.Note: Does not include agriculture, fishing and hunting.Source: BC Stats using Statistics Canada data.Small Business Profile 20217

Across Canada, B.C. suffered the third-largest decline in employment during the pandemic but has alsohad the strongest recovery. Whereas the province had lost 15.5 per cent of all jobs by April 2020, by May2021 employment was back to 99.0 per cent of the pre-COVID (i.e. February 2020) level. Only Quebec andNova Scotia lost relatively more jobs during the pandemic (19.0 per cent and 16.1 per cent, respectively).In terms of recovery, New Brunswick was a close second at 98.8 per cent of its pre-COVID employment.FIGURE C-4Employment Changes During the COVID-19 Pandemic, by Province5BCABSKMNONQCNSNBNLPECA0-5-10-15-208% change in employmentcompared to Feb 2020Worst point during the pandemicRecovery as of July 2021Small Business Profile 2021

Canadian Survey of Business ConditionsDuring the pandemic, Statistics Canada partnered with the Canadian Chamber of Commerce andbegan surveying businesses across Canada on a wide variety of topics. For example, responses to theirfirst survey in April 2020 indicated that 10 per cent of B.C. businesses had laid off their entire workforcedue to COVID-19, with the impact especially pronounced for businesses with fewer than 20 employees.Thirty-nine per cent of businesses in B.C. said they had laid off at least some staff while 41 per cent hadreduced staff hours or shifts.Surveys also showed the different impacts among Canada’s provinces. As of May 2020, 18 per cent ofB.C. businesses said they had voluntarily closed temporarily and 12 per cent had closed because ofgovernment mandate. Taken together, B.C. had the second-lowest level of voluntary and mandatorybusiness closures in Canada (30.0 per cent of businesses combined) after Manitoba (28.3 per cent).Quebec was the clear outlier, with 48.2 per cent of businesses being closed by government mandateand a further 15.0 per cent closed voluntarily.FIGURE C-5Per Cent of Businesses that Closed During the COVID-19 Pandemic, as of May 2020, by Province70%6050403020100Canada BCABSKMNONQCClosed temporarily as mandated by governmentNSNBPEINFLDVoluntarily closed temporarilySource: Statistics Canada (CSBC) and BC Stats.For all of 2020, 18 per cent of B.C. businesses said their revenue had decreased by 40 per cent or more.Businesses in the accommodation and food services sector suffered the most, followed by those in thearts, entertainment and recreation sector.5CFIB reports that an index above 50 signifies that owners that expect their business to perform better in the next year outnumber those that expect a weaker performance. CFIB suggests that anindex level between 65 and 70 is to be expected when an economy is growing at its potential. British Columbia’s index has been below that range since April 2018, which implies that many smallbusinesses in the province have been less optimistic about their prospects and operating below their potential for the past two years.Small Business Profile 20219

FIGURE C-6Per Cent of B.C. Respondents Who Said Their RevenueDecreased by 40 Per Cent or More in 2020, by IndustryAll IndustriesAccommodation & Food ServicesArts, Entertainment & RecreationOther ServicesAdministrative & Waste ManagementTransportation & WarehousingInformation & Cultural IndustriesWholesale TradeRetail TradeAgriculture, Forestry, Fishing & HuntingProfessional, Scientific & TechnicalConstructionManufacturingMining, Oil & GasFinance & InsuranceHealth Care & Social AssistanceReal Estate & Rental & Leasing0102030% of respondents4050Source: Statistics Canada and BC Stats.Government help came in many forms: zero-interest and partially forgivable loans, wage subsidies, rentsubsidies, and others. In B.C., 52 per cent of respondents to the January 2021 Canadian Survey on BusinessConditions reported that they had received funding through the Canada Emergency Business Account(CEBA) and 39 per cent through the Canada Emergency Wage Subsidy (CEWS). Broadly speaking, smallerbusinesses (with one to four and five to 19 employees) were more likely to access zero-interest and partiallyforgivable loans through the CEBA, while larger businesses were more likely to access the wage subsidy.FIGURE C-7Sources of Funding Approved of Received During the Pandemic, by Business Size90%8070Canada Emergency Business Account (CEBA)Canada Emergency Wage Subsidy (CEWS)Provincial, Territorial or Municipal government programsNone6050403020100All sizes1 to 4employees5 to 19employees20 to 99employees100 or moreemployeesSource: Statistics Canada and BC Stats.10Small Business Profile 2021

Small Business OutlookThe Business Barometer Index, published by the Canadian Federation of Independent Business (CFIB),measures small business confidence.5 Amid COVID-19 impacts, business confidence fell to historic lows,with B.C. recording 28.8 on CFIB’s index at the end of March 2020, slightly below the national average of30.8 in the same period.Business confidence has since improved, with B.C.’s long-term (12-month outlook) Business BarometerIndex at 69.5 as of July 2021, just above the national average of 69.4.FIGURE C-8CFIB Business Barometer Index, an-1125Jul-1135Source: Canadian Federation of Independent Business / Prepared by BC StatsSmall Business Profile 202111

Photo does not represent physicaldistancing measures in placeduring the COVID-19 pandemic.1. SMALL BUSINESSGROW TH1SMALL BUSINESSGROW THThis section monitors the annual performance of the small business sector by counting the numberof small businesses by size, industry and region.What is a small business?A business can be classified according to production levels, revenues or other means, but themost common definitions focuses on the number of people employed. In B.C., a small businessis defined as one with either fewer than 50 employees, or a business operated by a personwho is self-employed without paid help.12Small Business Profile 2021

Small Business Spotlight:Missy MacKintosh OwnerMisMacK Clean Cosmetics, Est. 2019Life StoryMissy has been a professional makeup artist for over 16years. She grew up in Salmon Arm, B.C. and then movedto Vancouver, B.C. to study makeup artistry at the BlancheMacDonald Centre. Missy then worked in management roles forseveral professional makeup companies before returning hometo Salmon Arm.What motivated you to start your own business?I began freelancing when I returned to Salmon Arm and thendiscovered clean beauty. I decided that I wanted to workwith clean products. However, I could not find professionallyperforming products that met my standards, so I took mattersinto my own hands and made my own! I pre-launched with abiodegradable glitter collection in 2018 and MisMacK officiallycame to the market in 2019.How has your business been impacted by andadapted to the COVID-19 pandemic?MisMacK launched right before the COVID-19 pandemic andwas impacted a great deal. Previously I was focusing on sellingwholesale to retailers, and then all those salons, spas and retailstores shut down. I was forced to pivot to direct-to-consumersales and focus on my online presence to survive.Within a week of the COVID-19 shutdown, we became thefirst makeup brand in Canada to offer online consultations andmakeup lessons to customers all over North America. When itbecame safe to open again, I set up a small distribution centrein my basement for customers to get products and lessonsin person. With support from the community and advisoryservices from Small Business BC, MisMacK kept growing.We expanded out of my basement and created a uniqueconcept store that offers retail, consultations, lessons andcomplimentary pampering sessions for customers.This pivot ended up being the best thing that could havehappened to us. We are now opening a second store in Victoria.What challenges did you encounter while growingyour business, particularly in a rural area?The biggest challenge was getting the word out and realizingthat nobody is going to build my business but me. I had tohustle every day and go out and speak about the products toget people in the store to experience them.Small Business Profile 2021Before I opened an in-person store, only 20 per cent ofSalmon Arm knew about the business – even though I hadwon the local Shuswap Launch-A-Preneur businesscompetition. With hard work and pivoting my business, Iovercame these challenges.What would be your advice for others starting abusiness?Fail into your flow – don’t be afraid of failure because that’s howyou grow. It takes pivoting and trying new things until you findwhat works.How do environmental sustainability and cleancosmetics fit into your business?Makeup is a self-regulated industry with lots of toxic ingredientsand green-washing in marketing where brands can claimtheir products are “clean” without explaining what that means.MisMacK is all about full circle sustainability and follows amodel we call T.E.S.S.S. (transparency, ethics, sourcing, safetyand sustainability) to explain what true clean beauty meansto us. Our products are also all multipurpose to minimizeconsumption and the feeling of being overwhelmed by owningtoo many products.The Bottom Line: MisMacK has four full-time staff and three part-time staffacross two store locations. Since opening the first store location in March 2021, saleshave increased by 726 per cent. MisMacK now has a secondstore in Victoria and Missy hopes to one day open five morestores across Canada in addition to locations in Paris, London,New York and Los Angeles. MisMacK recently released two new products and has moreon the way. This year, MisMacK’s Art Shadow line won first Place in BestEye Colour at the Global Clean Beauty Awards and MisMacKwas also a finalist in three categories for the Small BusinessBC Awards.13

How many businesses operate in British Columbia andhow is this number changing?There were a total of 532,400 businesses in B.C. in 2020. Of these, 98 per cent (523,600) were smallbusinesses with fewer than 50 employees.That means that in a province of 5.1 million people, roughly one-in-ten are small business owners. Themajority of these (61 per cent) are individuals who are self-employed without paid help, but the remainderrun businesses that employ others.The number of active small businesses in B.C. fell 2.3 per cent, or 15,100, in 2020. The largest declineoccurred among people who are self-employed without paid help, which fell by 11,700, or by 3.5 per cent.In the five years since 2015, the number of small businesses in B.C. grew by 10.7 per cent, or by 50,700businesses.FIGURE 1.1Growth of Small Businesses in British Columbia600500ThousandsNo employees1-4 employees10-19 employees20-49 employees5-9 ce: BC Stats using data supplied by Statistics Canada14Small Business Profile 2021

What is the size distribution of small businesses?In 2020, 85 per cent of the small businesses operating in B.C. were micro businesses, employing fewerthan five employees, and 73.5 per cent of micro businesses are self-employed people without paid help.See figure 1.2a for the detailed breakdown of businesses of all sizes in B.C.FIGURE 1.2aBusiness Breakdown of Small Businesses, British Columbia, 2020Number ofbusinessesPer cent of smallbusinesses1Total businesses with 0 to 4 employees444,00083%85%Self-employed without paid help326,50061%62%Businesses with 1 to 4 employees117,50022%22%Businesses with 5 to 9 employees38,5007%7%Businesses with 10 to 19 employees25,2005%5%Businesses with 20 to 29 employees9,1002%2%Businesses with 30 to 49 employees6,9001%1%Total number of small businesses523,60098%100%Businesses with 50 to 99 employees5,4001%-Businesses with 100 to 149 employees1,4000%-Businesses with 150 to 199 employees6000%-Businesses with 200 to 249 employees4000%-Businesses with 250 to 299 employees2000%-Businesses with 300 or more employees7000%-8,7002%-532,400100%-Total number of large businessesTotal number of all businesses1Per cent of allbusinesses1Figures do not add due to roundingSource: BC Stats using data supplied by Statistics Canada6Note that utilities comprise only a small portion of this industry aggregation.Small Business Profile 202115

FIGURE 1.2bOne-Year and Five-Year Growth of B.C. Businesses, by Size300 or more employees250 to 299 employees-0.4%-1.7% 18.6%-7.5%200 to 249 employees 0.3%150 to 199 employees-2.4%100 to 149 employees-2.3% 13.5%50 to 99 employees 12.7% 0.3%30 to 49 employees-3.1%20 to 29 employees 9.0%-0.8%10 to 19 employees 7.7%-2.0%5 to 9 employees 8.7%-1.7% 3.9%1 to 4 employees 0.7% 7.2%-3.5%0 to 4 employees-2.4%Total small businesses-2.3%Total all businesses-10% 15.7% 1.7%Total large businessesSelf-employed without paid help 7.5% 5.8% 13.2% 11.6% 10.7%-2.3%-5% 10.8%0%1-yr Growth Rate5% -5%0%5%10%15%20%5-yr Growth RateSource: BC Stats using data supplied by Statistics CanadaIn which sectors are small businesses concentrated?There is great variety in the types of small businesses operating in B.C., from brew pubs, to small maskmanufacturers, to digital content companies. However, four out of five (81 per cent) small businesses inthe province are in service sector industries. The same proportion is observed among large businesses.In 2020, the largest concentration of small businesses in the province was in professional and businessservices, which encompassed 23 per cent of B.C.’s small businesses. Included in this sector are a numberof diverse activities, such as payroll services, building inspection services, graphic design services, andnanotechnology research and development. The industry with the next-most small businesses wasconstruction, which accounted for 13 per cent of the small businesses in the province.Figure 1.3a shows the industry breakdown for small businesses overall, while figure 1.3b breaks thatdown between small businesses with and without employees.16Small Business Profile 2021

FIGURE 1.3aTotal Small Businesses With

The 2021 B.C. Small Business Profile gives data and analysis on small businesses and their impact on B.C.'s economy in 2020. Defined as businesses with fewer than 50 employees, small businesses have long played a critical role in B.C.'s growing economy. The information here can help policy makers support small businesses to better position them

Related Documents:

Chapter III:British Enterprise in Bangkok. 93 1.The Role and Importance of British Trading Houses in Bangkok. 93 2.The British Trading Houses. 100 3.The British Banks in Bangkok. 124 A)Paper Currency. 128 B)The British Response to the Gold Standard,1902. 130 C)The Idea of a National Bank and the Effects on the British Banks. 136 4.Public Works. 147

August 2, 2021 15 August 2, 2021 16 August 2, 2021 17 August 3, 2021 18 August 4, 2021 19 August 5, 2021 20 August 6, 2021 21 August 9, 2021 22 August 9, 2021 23 August 9, 2021 24 August 10, 2021 25 August 11, 2021 26 August 12, 2021 27 August 13, 2021 28 August 16, 2021 29 August 16, 2021 30 August 16, 2021 31

The following abbreviations are used in this Rule Book: BRC: British Riding Clubs BHS: British Horse Society BD: British Dressage EI: Eventing Ireland BE: British Eventing BS: British Show Jumping DI: Dressage Ireland SJAI: Show jumping Association of Ireland BEF: British Equestrian Federation FEI: Fédération Equestre Internationale

Pension Country Profile: Canada (Extract from the OECD Private Pensions Outlook 2008) Contents Each Pension Country Profile is structured as follows: ¾ How to Read the Country Profile This section explains how the information contained in the country profile is organised. ¾ Country Profile The country profile is divided into six main sections:

[This Page Intentionally Left Blank] Contents Decennial 2010 Profile Technical Notes, Decennial Profile ACS 2008-12 Profile Technical Notes, ACS Profile [This Page Intentionally Left Blank] Decennial 2010 Profile L01 L01 Decennial 2010 Profile 1. L01 Decennial 2010 Profile Sex and Age 85 and over 80 84 75 79 70 74

CHAPTER 1 The Small Business Economy 9 small Business in 2006 10 demographics 12 small Business Costs 14 Continued Growth? 18 CHAPTER 2 Small Business Financing in 2006 25 economic and Credit Conditions in 2006 25 The onfinancial n sector’s Use of Funds in Capital Markets 26 Financing patterns of small Businesses 33 small Business Borrowing 37

Business Plans. All Charges exclude VAT. Please note that Customers cannot change their Small Business Plan until the Minimum Term has been fulfilled. 1. Small Business Plans Price Plan Small Business Plans Business Value 500MB Business Value 1GB Business Value 3GB Business Value 6GB Business Premier 4GB Business Premier 12GB Business Premier 25GB

Microsoft Word - Space Tourism reading comprehension.docx Created Date: 3/27/2018 9:06:16 AM .