Chamber of Commerce: Survey Reveals 64% of Business Owners Considering Leaving BC
British Columbia business leaders are urging the province’s political parties to present a practical economic strategy as nearly two-thirds of surveyed employers contemplate relocating to other provinces.
The business organizations have dispatched a survey with 10 questions to B.C.’s political party leaders ahead of the upcoming election, seeking clear answers regarding their economic visions for the province and the specific steps they plan to take to achieve these goals.
CEO of the BC Chamber of Commerce, Fiona Famulak, revealed that 64 percent of business owners are pondering leaving the province due to “investment uncertainty.”
According to statistics from the Chamber of Commerce, 76 percent of British Columbians believe that the provincial government should take more action to reduce the cost of doing business. Additionally, 70 percent of employers state that conducting business in B.C. is costlier compared to neighboring provinces, as mentioned by Famulak.
The President of the Business Council of British Columbia, Laura Jones, highlighted that while the province isn’t officially in a recession, many residents are living and operating businesses as if it were the case.
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“I think we all know at least one person who feels like the prospect of building a good life in British Columbia is slipping away,” expressed Jones at the press conference.
“We hear this in conversations with neighbours, with colleagues and loved ones, and it’s confirmed in the record number of people now moving to other provinces, taking with them their experience and their potential.”
Famulak pointed out that employers have pinpointed crime, vandalism, and public safety as critical issues that need attention. She stressed that these are pressing matters intertwined with the strength of the province’s economy.
“These aren’t just social issues, they have a direct line back to business,” she highlighted. “It’s important that we urge the government to provide us with solutions so we can set up our businesses to thrive.”
The Epoch Times reached out to the premier’s office for a response to the critiques but received no reply by the time of publication.
Top 10 Questions
The survey sent to B.C. political leaders prompts them to address 10 key issues identified as crucial for the province’s economic prosperity. The top two areas cover productivity, business investment, and wage growth, along with the cost of doing business.
Other topics include spending and deficits, climate and energy policy, resource development, regulatory improvement, crime and safety, cost of living, health care, and indigenous rights.
B.C. Finance Minister Katrine Conroy presented the government’s initial quarterly financial report earlier this week, forecasting sequential budget deficits for the upcoming three fiscal years, including an estimated $9 billion deficit for 2024-2025.
Conroy identified diminished corporate income tax revenue and wildfire combat costs as the main factors impacting the provincial budget significantly.
The budget report indicated a 0.5 percent decline in retail sales due to inflation and high-interest rates, while the increase in merchandise exports was only 1.6 percent because of low commodity prices.
The Canadian Press contributed to this report.
