Today, Trade and Export Development Minister Jeremy Harrison recognized October 15 to 21 as Small Business Week in Saskatchewan. Launched nearly 50 years ago by Business Development Bank of Canada, the week celebrates the important contributions small businesses make to the economy.

“While the businesses may be small, the impact that they have on this province’s economy is massive,” Harrison said. “Small businesses provide the products, services and jobs that are so vital to our everyday lives. More than thirty per cent of all workers in the province work for a small business.”

A small business is considered to have less than 50 employees.

The drive and tenacity of Saskatchewan’s small businesses ensure the province can continue exploring new markets, create new opportunities and foster innovation. They are part of why we have the global reputation for having the food, fuel and fertilizer a growing world needs. Whether in the smallest village or the biggest city in the province, small businesses have an impact far beyond the people they employ.

“Small businesses are the backbone of our province, representing nearly 99 per cent of all enterprises in Saskatchewan,” Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy said. “They play a crucial role in shaping our province’s growth, contributing significantly to job creation, community development, and a quarter of our provincial GDP. Their impact on Saskatchewan cannot be overstated.”

The small business sector is growing in Saskatchewan. The province has seen 2.6 per cent growth from 2021 to 2022, and 44.6 per cent growth since 2012. That means 147,116 small businesses in the province in 2022.

With 123 small businesses for every 1,000 people, Saskatchewan has the second highest per capita rate in Canada. In 2022, the province’s small businesses employed 30.6 per cent of Saskatchewan workers and paid nearly $7.2 billion in wages and salaries, almost 25 per cent of the province’s total payroll.