Canada's Investment of $3 Million Aims to Foster Business Growth and Skill Development in British Columbia

17 Oct, 2023

Canada's Investment of $3 Million Aims to Foster Business Growth and Skill Development in British Columbia

In British Columbia, small businesses hold a vital place in local communities and serve as the economic backbone of the province. To continue nurturing the entrepreneurial spirit of British Columbians, the Government of Canada is investing in organizations that foster business growth. The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), has announced an impressive funding commitment of over $3 million for four projects designed to support small and medium-sized businesses and enhance the technical skills of the workforce.

Minister Sajjan unveiled this significant investment during his visit to the Composites Knowledge Network at the University of British Columbia (UBC). This network is the recipient of more than $1.7 million in PacifiCan funding, aimed at propelling small and medium-sized businesses into leadership roles within the field of composites manufacturing. Composites, which involve the combination of two or more different materials, are revolutionizing various industries, from healthcare to construction. However, creating composites can be intricate and costly. The Composites Knowledge Network is actively working to overcome these challenges for businesses. With the newfound financial support, the network will expand its operations and provide crucial training to businesses throughout British Columbia.

This announcement marks the commencement of Small Business Week, an annual celebration that honors the entrepreneurial spirit of individuals across Canada who dare to dream and take action. As part of today's announcement, Small Business BC is receiving $695,000 in PacifiCan backing for two specific initiatives. This funding will empower Small Business BC to enhance its digital services and amplify the visibility of businesses led by members of underrepresented communities.

Minister Sajjan emphasizes that today's investment underscores the Government of Canada's commitment to promoting the growth of British Columbian businesses both locally and on the global stage. To achieve this vision, PacifiCan collaborates with key partners, such as the University of British Columbia and Small Business BC, who share a common ambition for the province's prosperity.

"The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada," highlighted the importance of this collaborative effort.