Group discussion quick reference guide

CONTEXT: Western Canada's strong economic performance over most of the last two decades has helped drive growth at the national level, but slower growth is expected going forward as the region faces significant challenges, including:

• Disruptive technologies posing risks for companies and workers;
• Lower economic participation by Indigenous Peoples and other groups;
• Weaker prices for our natural resources, combined with transportation bottlenecks, and the need for sustainable practices;
• Businesses requiring access to talent and skilled workers; and.
• Trade barriers emerging with traditional partners.

The ways that western Canadians respond to these challenges will help shape our future prosperity.

PROMPT: 10 years from now, what does a stronger western Canada look like to you? How will we increase our participation in the global economy? How can we continue to grow a knowledge-based economy? How do we share prosperity with all western Canadians?

CONTEXT: A variety of policies, programs and tools exist to help western Canadians pursue new opportunities for economic growth, such as:

• Growing emerging industries and transforming traditional sectors;
• Diversifying exports and capturing rising demand from emerging markets;
• Making small businesses more competitive and helping them to scale;
• Increasing entrepreneurship opportunities for Indigenous Peoples, women, and youth;
• Helping get innovative products and services developed and into the hands of consumers; and
• Equipping western Canadians with the skills they need in the new economy.

PROMPT: Do you agree that these areas are key to spurring new growth? What do we need to get right to get there? Could increased collaboration between partners help?

CONTEXT: Western Canada is home to a young and diverse population, including 55% of Canada's Indigenous Peoples. The Indigenous economy was estimated to be around $30 billion in 2016 and is growing fast; however, the unemployment rate for Indigenous Peoples is double the regional average and that of on-reserve Indigenous communities is even higher.

Data on Indigenous businesses remains limited, but suggests a growing opportunity:

• 2% of Canada's SMEs are Indigenous owned, this does not include unincorporated and on-reserve businesses;
• Indigenous self-employment rose 15.6% between 2006 and 2011, while Canada's overall number declined 4.4%; and
• 6.3% of Indigenous Peoples are self-employed, compared to 10.7% of the total labour force.

According to research, Indigenous entrepreneurs are motivated by a desire to innovate, expand and profit from their businesses, but they also face challenges to their growth and development, including access to financing, training, and technology.

PROMPT: How can Indigenous-led businesses sustain their growth and prosperity? How can government services be improved for Indigenous entrepreneurs and businesses?

CONTEXT: Governments recognize that fostering diversity and inclusion is integral to creating an economy that works for everyone. The full and equal participation of women, youth, and new immigrants in the economy is essential to Canada's future competitiveness and prosperity.

The numbers demonstrate some of the challenges women entrepreneurs and women-led businesses face. For instance:

• Women own fewer than 16% of all businesses;
• 10% of high-growth firms are owned by women;
• About 8% of women-owned businesses export (compared to 12% for all SMEs); and
• 15% of CEO positions are held by women

Women-led businesses also face barriers in accessing capital. According to recent data, women entrepreneurs are less likely to seek debt and equity financing and are more likely to be rejected or receive less money.

Youth are challenged to find jobs and establish businesses. For example:

• 64% of youth (15 to 24) are either working or seeking employment, compared to 87% of adults (25 to 54);
• The share of youth working in part-time and temporary positions continues to rise;
• More youth are pursuing university education, but 17% of young graduates report being overqualified for their jobs; and
• 3.6% of youth are self-employed, and they are twice as likely as adults to exit entrepreneurship.

On average, landed immigrants face economic challenges, including:

• Higher unemployment (7.4% compared to 6.6% for those born in Canada);
• Lower participation rates, suggesting discouraging conditions when seeking work;
• Lower median incomes (including a 39% gap for university graduates educated outside of Canada); and
• A smaller share of immigrants are self-employed in Alberta, Saskatchewan, and Manitoba, contrasting with higher immigrant self-employment in the rest of Canada

PROMPT: What is the best approach to closing labour market gaps and supporting business opportunities for women, youth, and new immigrants?

CONTEXT: Governments, communities, businesses, and individuals are already tackling many of the economic challenges that they face, while working on new economic opportunities for western Canada. However, increasing collaboration between these groups will focus resources and lead to creative solutions.

This engagement will help the Government of Canada to identify shared priorities for economic growth. Western Canadians are less interested in who is delivering solutions, than making sure that they are easy to access and effective.

A new Western Canada Growth Strategy must also include connections to regional and local partners, such as business, industry, academia, Indigenous Peoples, and different levels of government.

PROMPT: How can we all work better together to deliver for western Canadians? Are there models or successful relationships that you would point to?