How multiculturalism helps the economy
Diversity Summit panel highlights value of intercultural relations in N.L. business community
When it comes to helping the province’s economy, what does multiculturalism have to offer Newfoundland and Labrador? Apparently, quite a lot.
That was the key takeaway from a panel discussion Thursday morning, part of the Association for New Canadians’ annual Diversity Summit. The online event shined a spotlight on how diversity improves the sustainability of businesses and communities in Newfoundland and Labrador.
Economist Tony Fang, the Stephen Jarislowsky Chair in Economic and Cultural Transformation at Memorial University, offered a slew of facts to back up his assertion that newcomers help the province. Newfoundland and Labrador is witnessing a consistent population decline, and Fang said immigration is essential to an economy frequently dealing with labour shortages. He cited a recent NL Workforce Innovation Centre survey of 300 employers that found more than 43 per cent reported hiring difficulties, later adding it’s a myth international students and other newcomers are taking away jobs from people born in Newfoundland and Labrador.
Fang said newcomers are eager to start businesses and contribute to the local economy, and given Canada is a trading nation, the presence of people from other cultures can help broaden international opportunities for doing business. He also highlighted what they can bring to the cultural community as a whole.
“It also can make this province a little more interesting. Just think about different kinds of foods ... Different kinds of culture — music, festivals.”
Pam Anstey, executive director of the St. John’s Farmer’s Market, knows all too well about the entrepreneurial spirit of newcomers to the province. The market has vendors from 20 countries, reflecting what she called the “new face of St. John’s.”
“They are delighted to welcome people from all over the world to be able to showcase what they bring to this city,” Anstey said.
Beyond bringing unique foods and goods to the buying public, Anstey said the market has proven to be an ideal starting-ground for entrepreneurs adjusting to a new place and who otherwise may find it daunting to start a business in Newfoundland and Labrador.
“What we provide here is an opportunity for people to develop their small business, to be able to come here to find their customer base, their niche in the market, without having to invest in a whole bunch of overhead and without having to rent a building ... and without a lot of the bureaucratic process that might be involved in starting up a freestanding business.”
Anstey added the market offers a support system that gives it vendors a chance to succeed and not worry about some aspects of being a smallbusiness owner, whether it’s advice on obtaining a licence to sell food or safety training.
Lloydetta Quaicoe is the founder and CEO of Sharing Our Cultures, a group promoting multiculturalism at the school level and intercultural exchanges among youth in the province. She emphasized the value of skill development and collaboration for the youth her organization works with.
“I feel that we’ve really learned over the years that collaboration, getting connected with the community and giving young people platforms and space for their voices to be heard, recognized and valued makes for a great, successful organization and programs,” she said.
Colin Krulicki, regional vicepresident for Royal Bank in
Newfoundland and Labrador, said the bank promotes a diverse and inclusive workplace, later adding the majority of its 19 branches located across the province do employ newcomers. He also mentioned Royal Bank’s work to support diverse community groups, noting it’s an aspect of the business the employees care about deeply.
“For me, it’s part of employee retention, as I’m helping to build a more diverse workforce,” he said. “I will say, while we’ve done some work, we have still a lot of room to cover and a long road to go. But overall, it just makes for a better workforce, a more appreciative and more dynamic workforce.”