The following statement was read in the House of Assembly today by the Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology:

Speaker, small businesses and cooperatives make a significant contribution to the economy in Newfoundland and Labrador. That is why I am pleased to rise in this Honourable House today to recognize October 15 to October 21 as both Small Business Week and Co-op Week in Newfoundland and Labrador.

There are over 15,000 small businesses in this province that create jobs, build stronger communities, and generate a more diversified economy. Our government invests significantly in small businesses through programs and supports for existing businesses, start-up companies and the entrepreneurial ecosystem. These have supported the diverse sectors in our economy such as technology, craft, tourism, construction, mining and quarrying, oil and gas extraction, agriculture, forestry, fishing and outfitting industries. We cannot underestimate the impact small- and medium-sized businesses have on energizing local economies and sustaining rural communities.

Our province has more than 70 registered co-operatives. These, along with social enterprises, are leaders in community economic development. This year, the Newfoundland-Labrador Federation of Co-operatives (NLFC) is proclaiming that “Co-op’s mean business!” My department works closely with the NLFC and other partners, such as credit unions, in an effort to help individuals and purpose-led businesses start, grow and make a meaningful impact. Together we work to transform the way business is done to build strong community-based enterprises that nurture the sustainability of communities across the province.

Speaker, I ask all members to join me in recognizing the persistence and commitment of small businesses and co-ops in our communities.