Small businesses are a major factor in the economic and social prosperity of St. Albert. Aside from being a huge source of employment, small businesses are a driver of wealth and community well-being. In recognition of Small Business Week, here are some facts about small businesses, as well as some of the services available to small businesses in St. Albert.

 

According to the federal Department of Innovation, Science and Economic Development, small businesses (defined as having 1-99 employees) in Canada employ almost 70% of the population that works in the private sector. The department also reports that out of all Canadian businesses, 53.8% are considered "micro-enterprises" that have 1-4 employees. In terms of being drivers of wealth, the department's most recent estimate suggests that small businesses contribute to 41.5% of the country's total GDP (GDP is a key measure of economic production used by institutions around the world to measure economic performance). Additionally, it's important to note that from the standpoint of GDP by industrial sector, small businesses in Canada account for 63.3% of the GDP generated in the service-producing sector (retail trade, finance/professional services, health care, food services, etc.) Put together, it's hard to understate the major role small businesses play in driving the economy.

 

In St. Albert, out of over 2,700 licensed local businesses, ~95% can be considered small businesses. Many of these small businesses (over 1,000) are home-based businesses where the business owner is typically the sole employee of the business. These entrepreneurs offer services that range from landscaping services, to dog-walking/pet-sitting services, to technology troubleshooting services and senior companionship services; these services can oftentimes fill niche markets that improve the lives of residents - and other businesses - by providing services that people can't attain on their own.

 

The City of St. Albert recognizes the importance of small businesses in the community, and not only partners with local organizations to promote their interests, but also directly implements policies and programs in support of them. For example, the City's Economic Development Department runs an annual beautification program that provides a grant to local businesses to purchase/install storefront beautification, such as flowers/trees, outdoor furnishing, signage and even bike racks. Through the Business Licensing program, the City also maintains and promotes an online Business Directory of local licensed St. Albert businesses to help small businesses promote themselves directly to St. Albert residents. The City also hosts events such as the annual Business Breakfast and the Mayor's State of the City address to help inform local businesses of any information that may be relevant to their growth and success in the community.

 

For more information on small businesses and the programs available to them, please visit cultivatebusiness.ca.