At BC Marine Terminals, we understand how vital a healthy business environment is to the strength and resilience of our economy. That’s why we’re highlighting the Greater Vancouver Board of Trade’s (GVBOT) latest policy report, Simplify to Grow: Boosting Business in British Columbia, which outlines practical steps to improve competitiveness, reduce regulatory friction, and open the door to sustainable growth.
This report is part of GVBOT’s broader Agenda for Growth – The 3% Challenge campaign, which challenges British Columbia to aim for 3% annual real GDP growth—an ambitious, yet critical, target to drive long-term prosperity.
As the report makes clear, B.C. businesses are facing significant structural hurdles.
From rising operational costs to long permitting timelines and compliance burdens, these issues don’t just affect the private sector—they have real implications for housing, investment, and job creation across the province.
The data is sobering:
- Since 2022, B.C. has seen $6.5 billion in cumulative added costs to businesses.
- Permitting for major projects can take up to 15 years.
- Industrial land scarcity has pushed 5.1 million square feet of opportunity to Calgary.
- Compliance costs for small businesses are seven times higher per employee than for large firms.
The GVBOT’s report outlines three core areas where reforms are urgently needed:
1. Lower Costs:
Suggestions include increasing the Employer Health Tax exemption, exempting PST on machinery and equipment, and creating mechanisms like a “Red Tape Veto” to reduce unnecessary regulatory burdens.
2. Build Faster:
Calls for streamlined permitting processes, centralized reporting systems, and a renewed push to bring industrial lands online are central to boosting efficiency in project delivery.
3. Expand Opportunity:
Removing interprovincial trade barriers and supporting small business exporters are key to ensuring B.C. businesses can scale and compete globally.
These are not abstract challenges—they directly impact infrastructure development, job security, and the competitiveness of the supply chain and logistics sectors we’re proud to be a part of.
As BC Marine Terminals continues to advocate for a strong and sustainable trade gateway, we support these recommendations and the broader call for a growth-focused strategy in B.C. A thriving business environment is one that allows companies to invest, innovate, and create lasting benefits for all British Columbians.
The 3% growth target may be ambitious—but with the right policies in place, it’s within reach. Let’s work together to make B.C. a place where businesses are empowered to build, grow, and lead.
For those interested in exploring the full details, the Greater Vancouver Board of Trade’s full policy report is available as a downloadable PDF.
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