For the 40th consecutive year, Business Development Bank of Canada (BDC) is hosting Small Business Week running from Oct. 20-26 this year to highlight the impact Canadian small businesses have on the economy.
Small businesses fuel domestic economic growth with over 1.1 million operating nation-wide. These businesses employ the majority of private sector employees– approximately 69.7%– and accounting for 52% of the business-sector GDP. A lesser known fact is that micro-enterprises, which are firms with one-to-four employees, make up 54.1% of all private employers.
Small Business Week is a great time to celebrate growing Canadian businesses, and how they contribute to economic development. Whether you acknowledge Small Business Week by attending one of the Canada-wide events hosted by BDC, your local Chamber of Commerce, or simply get together for cake and coffee with your staff, there are many reasons to celebrate.
It’s undeniable that small businesses are a strong economic force and the pillars of their communities. This year Small Business Week is bringing these forces together and celebrating 10,000 plus entrepreneurs and small business owners as they come together to attend conferences, seminars, information sessions, and luncheons around Canada. Find out which events are happening near you.
As part of Small Business Week this year, BDC's President and CEO, Michael Denham and Chief Economist, Pierre Cléroux will be meeting with entrepreneurs in cities across the country to present findings from a new report looking at how the Canadian entrepreneurial landscape has changed in the past twenty years. They will be visiting various cities including Surrey, Vancouver, Edmonton, Saskatoon, London, Montréal, Québec City, and Halifax.
In addition to attending a local BDC Small Business Week event, there are other ways to celebrate:
Small business owners have a lot going on as they work to grow their companies and drive innovation, and it can be difficult to pause and celebrate the successes. This year take time to celebrate your employee contributions, business growth, and the bright future ahead during and after Canada’s Small Business Week.
It’s important to take time to acknowledge the contributions of your employees, whether it’s with coffee and donuts, a team lunch, or after work beverages. Your employees are the drivers of growth, which means you should never overlook their hard work and dedication.
This action could be a verbal acknowledgement, issuing points through an internal rewards and recognition program, or as simple as giving out thank-you cards to employees.
Has your small business taken off? Consider celebrating Small Business Week by sharing your knowledge with an up-and-coming entrepreneur. Are there things you wish you knew about running a business back when you were just starting up? Chances are someone else could benefit from your knowledge.
Where do you see the business headed in the next year? What new skills will your business need in the future? How are you supporting the development of your workforce? What inefficiencies can you reduce or eliminate? What potential partnership opportunities are available?
Show support for the small business economy by shopping locally. Purchase your groceries at a farmer’s market or get your coffee from an independent cafe. Replace just one daily errand with a trip to a local business.
Take advantage of the power of referrals and a small business will thank you. Commit to telling a friend about a small business owners’ great customer service, a unique local product, or reputable service. You can also support your favourite SMBs by writing a positive online review on Google or Yelp.
Ceridian is pleased to commemorate the event and celebrate small business success both this week, and all year round!