The City of Penticton is saying thanks to all local businesses and entrepreneurs and is encouraging people to shop local as our community recognizes national Small Business Week.
City celebrates national Small Business Week
“Penticton has a strong entrepreneurial spirit and it’s our small businesses that make our community the vibrant place it is today,” says Mayor Julius Bloomfield. “From boutiques and specialty shops to wineries, mechanics, accountants, construction companies and manufacturers, we are so thankful to these local businesses for providing the skills, services and goods we rely upon every day. We encourage everyone to shop local and continue to support our local economy.”
As of Sept. 30, 2024, Penticton is home to 3,707 businesses, marking a 16-per-cent increase from the same time period five years ago (3,197 in 2019). The majority of businesses in Penticton are small businesses, with 36 per cent of businesses having employees, according to Canada Census 2021.
The Census data also shows that 14.4 per cent of employees work from home. The main industries in Penticton by labour force include health care and social assistance (17.1%), retail (14.6%), construction (10.1%), accommodation and food services (9%) and manufacturing (6.7%).
The City of Penticton’s data, collected through its Welcome Home campaign, found that the largest group of new residents who moved Penticton in 2023 arrived from the Lower Mainland, with the majority moving for work purposes. So far this year, the leading group of new arrivals is from Alberta.
In celebration of Small Business Week (Oct. 20-26), the City is reminding residents to shop local wherever possible.
“Small businesses are the lifeblood of our city, providing wages and investments in our community,” says Bloomfield. “They also contribute by supporting many local organizations and sports club that help build the connections that make Penticton a vibrant place to call home.”
As part of the process to attract investment, the City is focusing on increasing housing stock to meet the needs of all income levels. Currently, 129 residential have received building permits this year and 345 development permits have been approved.
By the numbers
· There are 3,707 total active business licences in Penticton as of Sept. 30, 2024.
· The Penticton Industrial Development Association has 14 manufacturers, who have an estimated income of $500 million per year and an annual payroll of $140 million. PIDA members occupy approximately 2.5 per cent of Penticton’s land area.
· The Downtown Penticton Business Improvement Association supports more than 700 businesses within the downtown core, totalling an estimated 1,800 to 3,000 employees.
· The Penticton & Wine Country Chamber of Commerce has 475 members, representing 7,750 employees.
· Travel Penticton has 276 members, all within the tourism industry.
Sources: City of Penticton, Penticton Industrial Development Association, Penticton & Wine Country Chamber of Commerce, Downtown Penticton Business Improvement Association, and Travel Penticton.
Resources for local businesses and entrepreneurs
· Start Here Penticton: Be inspired about living and working in Penticton, read stories about other newcomers, and get tips about starting your own business, at StartHerePenticton.com.
· Your Guide to Business: Steps for how to open or grow a business in Penticton, available at penticton.ca/business-guide.
· Research, Data & Statistics: Building a business plan? Access market research about Penticton, with data sourced from multiple sources including Statistics Canada, at penticton.ca/data.