Business, Tourism, Culture and Rural Development
October 20, 2014

Government Remains Focused on Business Success

Small Business Week Celebrates the Contributions of Newfoundland and Labrador’s Small Business Community

To mark this year’s Small Business Week, the Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development, will be joining the province’s business community, entrepreneurs and economic development groups in celebrating the significant social and economic contributions small businesses make throughout the province.

“Small businesses are the heart of Newfoundland and Labrador’s economy and are major contributors to our strong economic momentum. The diversity of businesses found throughout our province is extraordinary and speaks to the synergies that are so clearly found in the new Department of Business, Tourism, Culture and Rural Development. Our government is proud to play an important role in supporting Newfoundlanders and Labradorians who may be interested in starting a small business and in helping to grow the existing dynamic businesses throughout our province.”
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development

Approximately 98 per cent of all Canadian businesses have fewer than 100 employees, and in this province, small and medium-sized businesses employ almost 40 per cent of the total workforce. To ensure flexible funding and serve the needs of small and medium-sized businesses, over $38 million is available through the Business Investment Fund to help businesses grow and compete in their markets and allow new businesses to expand into the province.

“There is a very good reason that the Canadian Federation of Independent Business has found that business owners in Newfoundland and Labrador remain Canada’s most optimistic. We all see the boundless economic potential in our province and feel the enthusiasm. The benefit of our strong small business community is felt throughout the province every day through dynamic employment opportunities, stronger communities and a diversified economy. During Small Business Week, I encourage our province’s entrepreneurs to connect and collaborate with each other. By working together, we are all stronger and more competitive, which contributes directly to the growth of our communities and the entire economy.”
- Minister King

The Department of Business, Tourism, Culture and Rural Development offers a variety of programs and services that help businesses become more innovative and increase productivity. New and established businesses can avail of a range of programs from business counselling, market development strategies, and trade and export programs.

Small Business Week, which runs from October 19 to 25, was launched nationally by the Business Development Bank of Canada in 1981. Throughout the week, local chambers of commerce and economic development groups coordinate a range of events that help create awareness of the value of small businesses. For information about national events, please visit, www.bdc.ca .

QUICK FACTS

• October 19-25 is Small Business Week in Newfoundland and Labrador.
• Small and medium-sized businesses play a vital role in sustaining and growing Newfoundland and Labrador’s economy, with small and medium-sized businesses employing almost 40 per cent of the province’s total workforce.
• The Department of Business, Tourism, Culture and Rural Development offers a range of programs from business counselling to mentoring, market development strategies and trade and export programs.
• Additional information on the department’s programs and services can be found at, www.ibrd.gov.nl.ca/programs/index.html.

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Media contact:

Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca

2014 10 20                                    11:20 a.m.