The pandemic disrupted the lives of many owners of small and medium-sized businesses, an essential part of our economy. That’s why it’s more important than ever to help them rebuild and recover.
For more than 40 years, BDC’s Small Business Week has highlighted how entrepreneurs and their teams help boost the Canadian economy. Here are three notable reasons why small business is so important to Winnipeg and our province:
Manitoba small businesses are big employers
Small and medium-sized enterprises (SMEs) are one of the top employers in Canada and in the province. Did you know that nine in 10 Canadians who work in the private sector is employed in a small or medium-sized business?
In 2019, there were 39,370 small businesses (one to 99 employees) in Manitoba that created opportunities for local communities and neighbourhoods. There were 836 medium-sized businesses (100 to 499 employees) and 122 large businesses (500+ employees).
Small businesses contribute to massive GDP
SMEs bring money into our economy.
With more than 1.2 million SMEs across Canada, these businesses contribute 54 per cent of the country’s Gross Domestic Product.
In 2019, 50,542 Canadian establishments exported goods with a value totaling $533.3 billion. In 2019, Ontario had 48.7 exporters per thousand establishments, followed by Manitoba with 45.9.
Small businesses are diverse
Small businesses add vibrancy to our city. They support our local economy and feature a wide range of sectors, spanning from tourism and hospitality to manufacturing and agriculture. This diversity means more services and unique experiences for Winnipeggers ultimately improving their quality of life.
The Manitoba government also led the way in developing programs that attracted newcomers from across the country and the world, bringing in new talent and entrepreneurs to our city.
Small Business Week virtual events
Throughout the week, BDC is hosting a series of events to provide a space to learn, network and celebrate businesses boosting the economy across Canada.
Register for the virtual events at www.bdc.ca, where you can also access on-demand videos to learn more about small businesses in Canada.