British Columbia (BC) is a relief for the Canadian Economy. The real GDP for the province is expected to grow at an average of 2.2% till 2024. One reason is that BC is not dependent on the Energy Sector for their primary revenue. For a 10-year period 2014 to 2024, the Employment rate is projected to grow at 1.2% on average, every year. Companies need Managers to manage the diverse workforce, resources Technology, and Strategy. MBAs planning to join the Technology, Manufacturing, and Finance sectors, will find long-term career paths in the region. In terms of GDP contribution by sector, Oil & Gas is ranked #11.
The Small Business boom in the province explains why a province that came to prominence with contribution from non-renewable energy has now moved away to service in a big way. The latest Small Business Profile report shows that BC is ranked #1 in the Country, tied with Saskatchewan as the province with the highest per capita of small businesses (82.6 for every 1000 people). The number is nearly 12 points higher than the national average. According to the 2014-15 survey, 98% of all Businesses in BC were small businesses, running to a total of 382,600, out of which 4 out of 5 were micro-businesses with less than 5 employees.
Job Opportunities
BC has managed to duck the crisis witnessed in rest of the resource-dependent provinces of Canada by controlling expenditure, mostly by introducing a performance based Bonus program for government employees, thereby increasing efficiency, and by attracting Businesses with an attractive tax plan. Despite a steady influx of migrants from other countries and nearby provinces, over the next years, a large section of the workforce in BC will retire. There lies an opportunity for all Millennials. More than half of the jobs projected to open up in BC within 2024 are in three roles:
1) Sales and Service
2) Business, Finance, and Administration
3) Management
Technology
The $100 million Venture Fund announcement during the #BCTECH Strategy event in December 2015 should not surprise MBAs. Post-2008, the Technology sector has become a favorite. The rise of Facebook, Uber and the steady monopolizing growth of Google & Microsoft has cemented Technology as a favorite for MBA graduates. British Columbia has a stream of new technology start-ups. Although the brands have yet to come to our consciousness, Hootsuite, the Social Media management tool, is one of the biggest names to come out of BC. A recent report by the Conference Board of Canada on innovation ranks BC with a ‘B’ grade for innovation, a grade shared with the US, Ontario, Switzerland, Netherlands, Quebec, Austria, and Norway. On Entrepreneurial Ambition, BC gets an A+ while for Venture Capital Investment; the province earned an ‘A’ grade.
The above post in an Excerpt from the Book: Why Canada: A Complete Career Guide for MBA Applicants
Inside Why Canada: A Complete Career Guide for MBA Applicants
- Job Opportunities for MBA candidates in British Columbia (BC) covering International Trade, Media, Tourism and LnG
- Top Recommended MBA Program in BC
- Analysis of 10 Canadian provinces and the best fit for you,
post-MBA - Funding Options available for Local and International Students pursuing an MBA in Canada
Download: Why Canada: A Complete Career Guide for MBA
Applicants
