Over the next few days, B.C. will be celebrating the important role that local businesses play in communities around the province.
This week marks the fifth annual B.C. Buy Local Week, putting a spotlight on the contributions that these small businesses make to their neighbourhoods and local economies.
“Supporting local, small businesses helps ensure communities throughout B.C. continue to thrive,” said Coralee Oakes, minister of small business. “Small businesses make up 98% of all business in B.C. and this week highlights their significant contribution to B.C.’s social and cultural fabric, and our strong economy.”
There were approximately 388,500 small businesses operating in B.C. last year, employing over one million people. Over 80% of those businesses have fewer than five employees.
In order to be labeled as locally owned, businesses must be private companies that are headquartered in B.C., with over half the owners residing in the province.
That’s not the only way to be local though. You can also support the local economy by trying to buy locally grown and locally made products.
Locally grown products are agricultural products grown in B.C., while locally made means manufactured products with more than half the materials grown in B.C.
Businesses can participate in B.C. Buy Local Week by identifying themselves as locally owned and promoting themselves by using the hashtag #BCBuyLocal.