NLIS 1 October 21, 2002 (Industry, Trade and Rural Development) Small businesses making it happen in Newfoundland and Labrador "Small businesses are making a real difference in our economy. They are making it happen in Newfoundland and Labrador every day," said Industry, Trade and Rural Development Minister Kelvin Parsons. "This week is Small Business Week, so it is fitting that we take time to celebrate our small businesses and the contributions they make to our communities and our province in general." Almost 95 per cent of all businesses in Newfoundland and Labrador are small businesses, employing fewer than 50 people. There are more than 20,000 of them in Newfoundland and Labrador today, accounting for more than one-third of total employment and creating 80 per cent of all new jobs in our economy. The achievements of small businesses and their contributions will be spotlighted during the week of October 20 to 27 as the country celebrates Small Business Week, a national annual program organized by the Business Development Bank of Canada in cooperation with the Canadian Chamber of Commerce. "Government recognizes the important role that our small businesses play in our economy. That is why we gave particular attention to small business development in our Renewal Strategy for Jobs and Growth," said Minister Parsons. "We have implemented numerous measures to stimulate the growth of this vital sector of our economy and the Department of Industry, Trade and Rural Development applauds those entrepreneurs in all corners of the province who have taken the courageous step of starting up their own small business enterprises and making them succeed." Media Contact: Clifford Grinling, Communications, (709) 729-7066 BACKGROUNDER Renewal Strategy for Jobs and
Growth The enterprising spirit of the private sector is the engine of economic growth. Government�s role is to establish and maintain an environment that allows private enterprise to be competitive and create lasting economic wealth. During the jobs and growth consultations, many entrepreneurs came forward with ideas for strengthening our overall small business environment. Government listened and has been putting that advice to work through the Renewal Strategy for Jobs and Growth with such initiatives as following:
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