Province Celebrates the Important Contributions of Small Business

October 20 to 26 marks Small Business Week in Newfoundland and Labrador, and the Honourable Charlene Johnson, Minister of Innovation, Business and Rural Development, is 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 the driving force behind economic growth,” said Minister Johnson. “I respect how hard our province’s entrepreneurs work and I applaud their tenacity and commitment. The benefit of our strong small business community is felt throughout the province every day through better employment opportunities, stronger communities and a diversified economy.”

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. To ensure flexible funding and serve the needs of small and medium-sized businesses, over $36 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.

Small Business Week 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 .

“This year’s theme Success Ahead: Map Your Future Growth, emphasizes that with sound planning and strategic support, the potential for small business growth is immeasurable,” said Minister Johnson. “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 economy.”

The Department of Innovation, Business and Rural Development offers programs and services that help businesses become more innovative and increase their ability to become more productive. New and established businesses can avail of 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.gov.nl.ca/ibrd.

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Media contact:
Heather Maclean
Director of Communications
Department of Innovation, Business and Rural Development
709-729-4570, 697-4137
heathermaclean@gov.nl.ca 

2013 10 21             4:45 p.m.