YORKTON - Small Business Week in Saskatchewan is being marked in the province Oct. 15-21.
The week which celebrates the important contributions small businesses make to the economy was launched nearly 50 years ago by Business Development Bank of Canada.
A small business is considered to have less than 50 employees.
Yorkton Mayor Mitch Hippsley said small business is critical to the city, adding the vast majority of the 1100 registered businesses in the city are small businesses.
And the business sector is growing
In 2023 there has been a net gain of 35 new businesses, said Hippsley.
“Small biz is the backbone for any community’s success,” he said. “. . . They make a difference. It’s really neat to see people’s dreams come true (with a business). Hats off to all the small businesses.”
Hippsley said because of the businesses in Yorkton the city has become a regional hub which serves people in the area.
The week is an important one offered Yorkton Chamber of Commerce executive director Juanita Polegi.
“Where would Yorkton be without its small businesses?” she asked.
“From restaurants to retail outlets, construction firms and service providers to manufacturers, Yorkton has them all,” she continued in answering her own question.
“It’s the small businesses which help to give our community character.
“When you consider that small businesses comprise 99 per cent of the business community, small businesses become big employers and big contributors to our economy.
“Small business owners work hard to ensure their customers are satisfied. These people are our neighbours and friends.”
Donna Brothwell, executive director of YBID said what makes small business different is the personal aspect of business ownership.
“When people say its not personal it’s only business think again,” she said. “Small business is personal.
“It feeds our families, employs our community and builds loyalty and sustainability.
“When your families needs are met by the small business that almost every family member grows up with and works at it really is personal.”
The connection is the big difference, continued Brothwell.
“Small business is like another child in the family,” she said. “We nurture, grow, feed, train, and learn with.
“We put everything into our businesses and the business gives back.
“Small business is the backbone of the community and each success is a community success.
“Hats of to all small business during small business week and always.”
In a release Trade and Export Development Minister Jeremy Harrison said small business is an economic driver.
“While the businesses may be small, the impact that they have on this province's economy is massive," Harrison said. "Small businesses provide the products, services and jobs that are so vital to our everyday lives. More than thirty per cent of all workers in the province work for a small business."
The drive and tenacity of Saskatchewan's small businesses ensure the province can continue exploring new markets, create new opportunities and foster innovation, continued the release. They are part of why we have the global reputation for having the food, fuel and fertilizer a growing world needs. Whether in the smallest village or the biggest city in the province, small businesses have an impact far beyond the people they employ.
"Small businesses are the backbone of our province, representing nearly 99 per cent of all enterprises in Saskatchewan,” Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy said in the release. "They play a crucial role in shaping our province's growth, contributing significantly to job creation, community development, and a quarter of our provincial GDP. Their impact on Saskatchewan cannot be overstated."
The small business sector is growing in Saskatchewan. The province has seen 2.6 per cent growth from 2021 to 2022, and 44.6 per cent growth since 2012. That means 147,116 small businesses in the province in 2022.
With 123 small businesses for every 1,000 people, Saskatchewan has the second highest per capita rate in Canada. In 2022, the province's small businesses employed 30.6 per cent of Saskatchewan workers and paid nearly $7.2 billion in wages and salaries, almost 25 per cent of the province's total payroll.
