Statement made on 19 October 2010 by Senator Catherine Callbeck
Hon. Catherine S. Callbeck:
Honourable senators, the week of October 17 to 23 is Small Business Week in Canada. This special week celebrates the contributions and achievements of the many thousands of men and women entrepreneurs across the country who own and operate their own businesses. They are hard-working, innovative and most deserving of our support and encouragement.
These small businesses are the engine of the Canadian economy. Although small by the standards of large corporations, their impact is huge. More than 95 per cent of all businesses in Canada have fewer than 100 employees. Often, these businesses are at the leading edge of new ideas and the development of new products and processes that stimulate growth in our economy.
In my own province, small businesses account for more than 70 per cent of the labour force. Small businesses provide jobs in their communities, they offer needed goods and services, and they play a major role in the economic growth of the province.
During Small Business Week, I want to make special mention of the growing wave of women in business. In the past 15 years, there has been an increase of 50 per cent in the number of self-employed women in Canada. The number of women-owned businesses is increasing 60 per cent faster than those established by men. According to a recent report by CIBC, there are now 1 million Canadian women who own a small business.
As former vice-chair of the Prime Minister's Task Force on Women Entrepreneurs, I applaud this growing wave. The task force recognized the challenges and opportunities of women in business, and I am pleased to note the significant progress that has been made over the past decade.
Honourable senators, the men and women who own small businesses in Canada have experienced many difficulties over the past two years as a result of the global recession, and many have worked hard and are persevering during these difficult times. They are deserving of our recognition. Please join me in celebrating the vital role small businesses play in our economy.