jULY/AUGUST 2018 BCBusiness 65 BCBUSINESS.CA
regional managing part-
ner for Metro Vancouver
with
KPMG. "[But] it doesn't tell the entire
story because B.C. has an issue, that it
doesn't have enough scaled businesses,"
Pela continues, noting that 98 percent
of companies in the province have fewer
than 50 employees.
Technolo„y is one sector where the sit-
uation is most pronounced. Although pro-
vincial statistics show that tech employed
some 106,000 people in 2017—more than
natural resources—the locally based com-
panies doing the hiring tend to be small.
"They employ a lot of people, they
drive creativity, they drive innovation,
and they're great contributors to the local
economy," Pela says. The ‹ip side: "You
may not see them on the Top 100."
The province's biggest tech employ-
ers tend to be based elsewhere, setting
up shop in B.C. because of favourable tax
policies and an established talent pool.
This also allows them to keep tabs on and
acquire rising stars fostered by the tech
ecosystem. With roughly 1,000 employ-
ees, Hootsuite is a locally based exception,
but the Vancouver-headquartered social
media management company doesn't
divulge revenue, and
KPMG, which counts
it as a client, isn't telling.
Natural resources, manufacturing and
transportation may not be the sexiest
businesses, but they're the bedrock of the
province, creating jobs that attract people
and fuel the need for housing. The two
B.C.-based companies with the fastest-
growing revenue in 2017 are in the shelter
business—developers Polygon Family of
Companies, which saw sales more than
double as units came to completion, and
the BC Housing Management Commis-
sion, whose revenue surged by 111 percent
as the provincial government wrestled to
address the housing crisis.
The picture that emerges is of a prov-
ince ™ring on all cylinders, with plenty of
momentum as it moves through 2018. It's
also a province that's working to ensure—
even more since last spring's election—
that everyone participates in the boom.
Collaboration also lies behind the sta-
ble composition of the Top 100. "The idea
of what a company is has actually changed
a bit over the years,"
UBC's Brander says.
"What used to be all in one big company is
continued from page 63
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