It’s BDC Small Business Week and we’re celebrating! The backbone of Canada’s economy, small businesses contribute significantly to its growth and prosperity. Small and medium-sized enterprises (SMEs) play a powerful role in shaping the national economic landscape and make a huge difference in the Central York area.
A Snapshot of SMEs in Canada
According to recent data from Statistics Canada, Canada is home to over 1.2 million SMEs, accounting for a whopping 98% of all businesses in the country! These businesses are responsible for 48% of Canada’s GDP, underscoring their critical contribution to economic activity. In terms of employment, SMEs are major job creators – close to 64% of private sector jobs are in an SME.
Check out this terrific infographic from the BDC for more interesting stats.
Supporting Local Communities
In the Central York area, small businesses truly are the heart of the community. These businesses offer unique products and services tailored to the community’s needs, creating a welcoming, local vibe. More than that, they support local jobs, invest in people, and help build strong connections. By supporting them, you’re helping to keep the area vibrant and resilient, making Newmarket and East Gwillimbury great places to live and work.
While we often think of retail and restaurants first when we think of local, the Central York area is home to interesting businesses across a variety of sectors. For example, Perfect Fit Orthotics specializes in custom orthotic solutions designed to relieve foot pain and improve mobility. CYC member Fair Chance Learning works closely with businesses on skills development through online learning, helping SMEs retain and upskill talent. Meanwhile, The Marc Group develops customized marketing strategies that help businesses thrive.
The Path Forward
As we celebrate Small Business Week in Newmarket and East Gwillimbury, take a moment to remember that local business success and thriving communities go hand in hand. Local businesses help make our towns unique, and their growth means a brighter future for everyone who lives and works here.
Discover just some of the interesting SMEs that help make up the CYC! Visit us on Instagram and Facebook.