BRIDGING THE TALENT GAP FOR BC’S GROWING BUSINESSES

A message from University Canada West President Sheldon Levy

In 2019, I was asked to serve as an advisor to

Canada’s Minister of Small Business and Export

Promotion. My task was to seek out Canadian firms that were scaling their operations and identify the barriers that were preventing them from reaching their potential. I interviewed the founders and leaders from 50 of

Canada’s most promising firms from coast to coast, including many here in British Columbia.

I a learned unique that business growing category, firms are one that makes important contributions to job growth in every region, and one whose challenges are not the same as either start-ups or large corporations. I learned that the biggest barrier they face is attracting and retaining talent—not just coding or tech talent but also talent at the senior management level, as well as in areas such as digital marketing and e-commerce. This issue compounded their other challenges, including the limited availability of venture capital and debt financing for their stage of growth, and a lack of access to new domestic markets to give them the foundation they need to grow internationally.

TWO KEY THEMES EMERGED FROM MY WORK THAT ARE HIGHLY RELEVANT TO BC TODAY: • For BC’S growing firms to reach their potential, everyone—not just governments but public and private sector institutions, as well, from banks to universities and colleges and beyond— needs to do their part. Our institutions need to be ‘pulling’ these firms into our support networks, rather than the firms having to ‘push’ their way in. We all have a hand in helping BC’S growing firms succeed here in BC.

• Immigration, combined with a strong domestic training ecosystem, will be crucial factors in solving BC’S talent gap. In order to ensure that we create a sustainable talent pipeline, we must continue to ensure that our postsecondary institutions are graduating students with the skills and experience that respond to the demands of today’s economy.

University Canada West will play its part in these efforts. Supporting the talent needs of

BC’S businesses is part of our responsibility to the society we serve. It’s also the best way to serve both our domestic and international students: by providing them with a quality education in skills and competencies that are in demand and helping make sure BC has the brainpower to succeed in the decades ahead.