Small Business Week has run for more than 40 years

As the third week in October arrives many small businesses in Canada recognize it as Small Business Week. This year, in 2020, it runs from Oct. 18 to 24.

Small Business Week gives entrepreneurs to hold an annual week of recognition of the contributions that small businesses provide for communities.

For more than 40 years the Business Development Bank of Canada has organized the week that entrepreneurs gather to expand their knowledge, network with people in their industry and celebrate the people building business across Canada. More than 10,000 small businesses from coast to coast take part annually.

Small Business week is especially important to British Columbian as it was first organized in 1979 in the Frazer Valley when a group of businesses initiated a week of small business management and entrepreneurial training sessions. Other regions followed suit and Small Business Week was officially embarked in 1981 on a national level.

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“Small and medium-sized businesses are the foundation of the Canadian economy, accounting for 99 per cent of all businesses,” Thinking Capital, a Canadian business financing organization said on their website. “In 2015, SMBs employed approximately 10.5 million Canadians in the private sector.”

The importance of small businesses strengthening the backbone and livelihood of communities such a Prince Rupert has been evident during the trying times of the pandemic with the Support Local BC (SLBC) campaign being inaugurated on March 25. The movement encourages residents of communities to purchase gift cards in lieu of shopping in person and provide businesses with some cash flow during business closures and slowdowns. Northern Development Initiative Trust (NDIT) announced it was partnering with SLBC to help promote the program in late April.

In June it was reported in The Northern View that Prince Rupert was the leading the Northwest in the sale of SLBC giftcards with more being sold in the city than any other northwest community.

“We know that Prince Rupert residents are great at taking care of our own in tough times, and the results from this Support Local BC Campaign are further proof of that,” Paul Vendittelli, Manager of Transportation and Economic Development for the City of Prince Rupert said.