The Backbone of Regina’s Economy: EDR Report Highlights the Value of Small Businesses

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January 22, 2025

(Regina) Small businesses are the backbone of communities and economies worldwide, and Regina is no exception. Today, Economic Development Regina (EDR) released its State of Small Business report, an in-depth analysis of the small business ecosystem in Canada, Saskatchewan, and the Greater Regina Area (GRA).

“Small businesses are the cornerstone of Regina’s economy,” said EDR President and CEO Chris Lane. “This report not only underlines the vital role small businesses hold in our economy, it also emphasizes the importance of supporting them as they – and Regina’s economy – grow and adapt.”

The report, supported by data, highlights three key trends – adaptability & innovation, cultural & community impact, and future challenges – while showcasing the indispensable role of small businesses in the region:

  • 98% of businesses in the GRA are small, employing 1 to 99 people.
  • These small businesses generate $4.6 billion annually, contributing $4.4 billion to Regina’s GDP—an impressive 25% of the total GDP.
  • Since 2019, the GRA has welcomed 368 new small businesses, demonstrating growth and innovation despite economic pressures.
  • They contribute $567 million in total tax revenue, reinforcing their significance in supporting public services.

“The State of Small Business Report offers valuable data, analysis, and context for our small business community,” Regina Chamber of Commerce CEO Mike Tate said. “The report is a significant tool that enables small business to continue driving innovation, create local employment opportunities and foster development in the local community. EDR’s leadership continues to be an important resource for small business in Regina.”

The State of Small Business report is a call to action for community leaders, policymakers, and residents to recognize and champion small businesses as key contributors to Regina’s success.
“Regina is fortunate to have a broad range of supports in place for entrepreneurs, but some gaps still remain,” Lane said. “In the coming months, EDR will announce a renewed strategy to support high-potential companies and remove barriers from choosing Regina.”

View EDR’s full State of Small Business report here.

For additional information, please contact:

Mattea Columpsi
Manager, Communications
Economic Development Regina
mcolumpsi@economicdevelopmentregina.com

 

About Economic Development Regina Inc.
ECONOMIC DEVELOPMENT REGINA INC. (EDR) is the lead agency for economic development for the Greater Regina Area (GRA).
EDR provides leadership to the community with specific accountability for the following core functions:

  • Support industry growth and diversification through retention, development, and attraction of industry.
  • Find innovative ways to promote sustainable growth while effectively addressing the challenges associated with it.
  • Market and promote the Greater Regina Area for business and investment.
  • Ensure the Greater Regina Area offers a vibrant and diversified economy for investors, a climate of growth for business and works toward a high quality of life for residents.