Issue 17-04: B.C. Small Business Quarterly - Highlights

January 5, 2017

In the third quarter of 2016, the number of self-employed in B.C. rose to its highest level since the second quarter of 2013. Self-employment levels were up 3.4% compared to the second quarter.

The number of small businesses in B.C. (excluding self-employed persons) increased 1.1% (to 186,000) in the second quarter compared to the same period in 2015.

There continues to be strong growth in the number of new business incorporations in the province. In the third quarter, there were 12.1% more new incorporations compared to the same quarter of 2015.

Business bankruptcies experienced a year-over-year decline in the third quarter, falling 28.6%.

Over the same period, urban housing starts in B.C. continued to climb, jumping 31.9% over the number recorded in the third quarter of 2015.

Both wholesale (+0.1%) and retail (+1.2%) sales in the province increased in the third quarter, and manufacturing sales also showed considerable strength (+4.4%).

Meanwhile, B.C. commodity exports jumped 11.6% between the second and third quarter of 2016.

Both men and women have increased their presence in the self-employment realm over the past decade, but women in the province appear to be turning to self-employment in droves. From 2005 to 2015, the number of male self-employed showed a solid increase (+5.6%), but the number of female entrepreneurs soared (+17.3%).

The complete Small Business Quarterly Report along with feature article is now available for download.

Data Source: BC Stats, Small Business Quarterly, Third Quarter 2016