Small Businesses Continue to Drive Saskatchewan's Economy

Released on October 20, 2022

The Government of Saskatchewan is pleased to recognize small businesses during Small Business Week taking place from October 16 to October 22, 2022. 

"Saskatchewan has over 143,000 small businesses, and they are active in virtually every sector of our economy," Trade and Export Development Minister Jeremy Harrison said. "With 122 small businesses for every 1,000 people, Saskatchewan has the second highest per capita rate in the country. Small businesses provide vital jobs, products and services that are contributing to growth that works for everyone, and our government is proud to celebrate them."

Small businesses are classified as having less than 50 employees. They are a source of quality jobs and account for more than 98 per cent of businesses in every province in Canada. In Saskatchewan, nearly 99 per cent of businesses are small businesses and the sector has grown by over 50 per cent since 2011.

Small businesses continue to contribute significantly to the provincial economy, accounting for a quarter of the province's GDP and offering competitive wages to employees. 

The Government of Saskatchewan has also extended the small business tax rate reduction, at 0 per cent retroactive to July 1, 2022, and delaying the restoration of the rate to 2.0 per cent to July 1, 2024. This will save small businesses $93.1 million over the next three years, on average $3,000 for each small business.

In 2021, small businesses employed 31 per cent of Saskatchewan's workers and paid out almost $6.9 billion in wages and salaries, which was over 25 per cent of the province's total payroll.

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