Greater Vancouver Board of Trade and CFIB representatives say the incoming BC Conservative government must urgently improve business conditions as many firms feel the economic strain.
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Business groups in British Columbia say they are watching closely for the incoming Conservative government to strengthen the provincial economy and reduce costs for companies.
Bridgitte Anderson, CEO of the Greater Vancouver Board of Trade (GVBOT), said she has “high expectations” for the BC Conservatives, who have not held power in the province for almost a century. Anderson said the province has been difficult to attract investment and operate a business in sectors including retail, natural resources and manufacturing, noting that “the cost of doing business has increased significantly.” She said many members have considered moving their businesses out of B.C. and even out of the country.
Anderson pointed to a recent GVBOT survey finding that 77 per cent of members believe the provincial economy is on the wrong track, with more than half pessimistic about their business outlook and personal finances over the next year. She said the premier-elect campaigned on promises to support B.C. businesses and boost the economy, including eliminating the provincial sales tax on professional services.
Anderson said eliminating the tax on professional services would be “welcome among our members,” adding that the change would otherwise create additional costs for “delivering housing, major projects, and even those small mom-and-pop shops that have to protect their customers and employees.”
Kalith Nanayakkara, senior policy analyst with the Canadian Federation of Independent Business (CFIB), said small businesses are under pressure, with many “permanently closing their doors.” He said the provincial government’s commitments are “quite exciting for small businesses,” while adding that CFIB is focused on seeing results rather than promises.
Nanayakkara said B.C. is among the most expensive places to do business in North America and cited “some of the highest payroll tax burdens on the continent.” He said making it easier for small businesses to hire and grow would help address the situation.
Anderson said business owners want the government to carry through on its commitments to help B.C. climb out of debt and boost the economy, arguing that delivering on promises with urgency could encourage investment and create jobs and help send signals to investors that “B.C. is open for business.”
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