The Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), made the following statement about Micro, Small and Medium-Sized Enterprises Day on June 27:
“Today, we celebrate the importance of micro, small and medium-sized enterprises (MSMEs) to our economy. Globally, they make up more than 90 percent of the world’s businesses and account for, on average, 70 percent of employment and 50 percent of the world economy’s GDP. That is why, in 2017, the United Nations General Assembly reserved June 27 to recognize their value.
“Here, in Atlantic Canada, the contribution of these businesses is even greater. Almost all of our businesses are MSMEs, employing nearly 620,000 people, or about 90 percent of all private sector employment in the region.
“With numbers like these, the significant impact of small and medium-sized businesses on the economy is clear. It is critical we support and celebrate them, not just on June 27, but everyday.
“As the Minister responsible for ACOA I am proud to recognize our vital micro, small and medium-sized enterprises. ACOA has invested close to $1 billion over the past three years to support the success of Atlantic businesses. This includes over $228 million in COVID relief programming to small and medium-sized businesses since March 2020. As well, ACOA has delivered almost $95 million in funding from the national Regional Relief and Recovery Fund to support 2,108 Atlantic Canadian enterprises through the Community Business Development Corporations (CBDCs).
“Moving beyond pandemic recovery, entrepreneurs can look to ACOA for leadership and support in areas we know are key to strengthening Atlantic Canada, including:
- adopting digital technologies as a competitive advantage;
- supporting the workforce of the future;
- greening the economy; and
- supporting the increased participation of under-represented groups in Atlantic Canada’s workforce.
“By prioritizing these key areas of focus, ACOA will foster a diverse, inclusive and resilient economy that offers everyone the opportunity to prosper.
“MSME Day gives us a chance to celebrate the full potential of entrepreneurs as they stimulate our economy and strengthen our communities. Show your appreciation for how they help our region flourish. Visit, reach out to, and recommend the micro, small and medium-sized businesses in your area.”