In 2000, British Columbia ranked first in Canada with the highest proportion of Gross Domestic Product (28%) attributed to small business. That year, an estimated 893,000 people were employed in small business in British Columbia, or 58% of all private-sector jobs in the province.

The number of small businesses in British Columbia has grown at a faster rate in the last ten years than any other province in Canada, according to a federal-provincial report, Small Business Profile 2001, released today.

Western Economic Diversification Canada, the Ministry of Competition, Science and Enterprise and the office of BC Stats produced Small Business Profile 2001, of which this is the fourth annual release.

The report shows the number of small businesses in British Columbia grew from 216,000 in 1990 to 343,300 in 2000, an increase of 59% - the fastest growth rate in the country. The small business profile did reveal, though, that the number of small businesses in the province was in decline compared to 1999's high of 358,000. High technology continues to be the leading growth sector, expanding at an average annual rate of 7 per cent over the 1995 to 2000 period.

"Small business in British Columbia continues to lead in most indicators," said the Honourable Ron J. Duhamel, Minister of Veterans Affairs, Secretary of State (Western Economic Diversification) (Francophonie). "For example, B.C. has the highest share of women operating small businesses in the country; the fastest growth between 1990 and 2000 in terms of numbers; and the highest contribution to the province's GDP in the country. We applaud their entrepreneurial skill, risk-taking ability and contribution to British Columbia and the country."

Small Business Profile 2001 also shows that:

• Women own and operate almost half of all small businesses in British Columbia, the highest rate of ownership by women in the country.

• Youth (those aged 15 to 34) account for just over one fifth (21%) of all entrepreneurs. Approximately 5% of small business owners are 15 to 24 years of age.

• Three of the growth sectors in British Columbia - high technology, tourism and secondary manufacturing - all experienced growth between 1995 and 2000, with high technology leading the way by growing by almost 2,500 businesses.

Copies of Small Business Profile 2001 can be obtained from the following websites:

• http://www.wd-deo.gc.ca/ 
• www.gov.bc.ca/
• http://www.bcstats.gov.bc.ca/

Information on small businesses, government programs and services for small businesses can be obtained by contacting:

BC Stats
Data Services
553 Superior Street
Box 9410 Stn Prov Govt
Victoria, BC V8V 9V1
(250) 387-0327
http://www.bcstats.gov.bc.ca/

Canada/British Columbia Business Service Centre
601 West Cordova St.Vancouver, BC V6B 1G1
(604) 775-5525
Toll free: 1 800 667-2272
http://www.smallbusinessbc.ca/

Ministry of Competition, Science and Enterprise
Small Business Branch
Box 9805 Stn Prov Govt
Victoria, BC V8W 9W1
Toll free: 1 800 988-8299
http://www.gov.bc.ca/

Western Economic Diversification Canada
700 - 601 West Hastings
Vancouver, BC V6B 5G9
http://www.wd-deo.gc.ca/
Toll free: 1888 338-9378

Victoria Connects
Ste. G7
1001 Douglas Street
(250) 356-7915
(250) 356-7907
(250) 356-7834
http://www.businessvictoria.net/

FOR MORE INFORMATION, PLEASE CONTACT:

Jean-Pierre Roy
Manager, Communications
WD - B.C. Region
(604) 666-1318