A business is considered micro if it employs 50 or less individuals, or one operated by a self employed person without paid help. Believe it or not, this this is the kind of business that has been playing a primary role in creating job sectors and economic growth in the province of British Columbia. According to 2013 Small Business Profile, there are approximately 385,000 micro business operations, which represents 55% of all BC private sector employees, and 26% of the province’s GDP.

This is a significant boost to the economy, as it creates employments, innovations, and stimulations to new economic activities. The goods and services that the business produce has been remarkable, resulting in the biggest service oriented GDP across Canada as well as $12.2 billion worth of merchandises shipped out locally and internationally. An interesting fact about these micro businesses, is that it is mostly comprised of older self employed individuals, and they tend to work longer hours which increases the overall average of productivity in Canada. Despite the recent economic uncertainty, the consistency of the entrepreneur in BC has been the key to the success of these micro businesses, as they have been very optimistic in their expectation for the future.

Source: http://www.abbotsfordtimes.com/small-business-is-big-in-our-province-1.684590