Election result crucial for northwestern B.C. businesses

Uncertainty in the business environment reduces access to and/or increases the cost of capital

By Steve Smyth

It’s time for our provincial quadrennial excursion into democracy and for the business community and for us who manage our own businesses, it can be an uneasy time.

People open businesses because they have a passion for something and to sustain that passion businesses need stability and certainty – both fiscal and regulatory. If they are to grow their businesses they need to know that the foundations in which they are rooted are secure.

Traditionally, Liberal candidates tend to have a background related to business or administration, while the NDP usually selects more academics, activists and government employees. BC Liberal’s are champions of free enterprise and while free enterprise isn’t free, it’s certainly easier when you feel that the people making the decisions have some experience in the market economy.

The Liberals have always been seen as more business friendly than the more left leaning NDP. Businesses respond to this knowing that their investments and their future should be more secure. It is not that they are against the social policies championed by the NDP; it is because they know that everything, sooner or later, must be paid for.

Although our town is small, like it or not, we all rely on the global market place and what affects us the most is whether or not global money feels secure enough to invest in B.C. and the northwest. Global investors, just like small town businesses, are reassured by a secure and financially stable government, rather than one who may be held hostage by internal activism.

Uncertainty in the business environment reduces access to and/or increases the cost of capital. Uncertainty stifles the passion to invest in your business, to expand it, to seek out opportunities of growth and hire more employees.

Businesses have to know that the regulatory regime will be pragmatic and not created out of an unrealistic idealism.

Locally, log exports are a critical issue. Urban NDPers remain vehemently opposed while the current Liberals recognized that it was a better option than shutting down the forest industry completely. They’ve allowed log exports which have kept our forest infrastructure and logging companies viable. While it’s hard to support shipping some jobs overseas, these exports have more than helped this town survive the past decade. The election of any party that threatens to stop these exports should cause a ripple of fear.

Each party brings a different management style of governance and fiscal prudence. On May 9 businesses in Terrace and the people of B.C. must choose carefully and plan for their future.

Terrace resident Steve Smyth is a past director of the Terrace-Kitimat Airport Society and a current board member of the Terrace and District Chamber of Commerce.

Just Posted

New funding opens for industry innovation

Northern Development Initiative Trust opened new funds, focused on areas impacted by the pine beetle

Former resident wins filmmaking award

Veronika Kurz will be able to make her film with $15,000 cash and in-kind services, up to $100,000

Terrace River Kings win CIHL regular season

The boys held a strong enough lead in points to claim the banner after a 15-2 win Saturday

Terrace residents discuss poverty at provincial engagement meeting

80 people were there as well as the Minister of Social Development and Poverty Reduction

Shames Mountain named one of the world’s Top 10 ski resorts

The UK magazine listed Shames alongside Whistler and hills in Italy, Japan and Austria

VIDEO: Orcas put on a show near Hornby Island

Louis Jobodin shares photos and video of his experience

VIDEO: B.C. Lions sign defensive back T.J. Lee to contract for upcoming season

The four-year veteran had a team-high four interceptions and 49 tackles last season with B.C.

How an immigrant to Canada helped Donald Trump prove his mental health

Test that cleared Trump was developed by doctor associated with McGill and Sherbrooke universities

Premier touches on multiple topics ahead of Asia trade trip

Housing and childcare are expected to be the focus of the BC NDP’s first budget in February.

UPDATE: Friends mourn boy, 15, killed in Vancouver shooting

John Horgan: ‘No stone is to be left unturned until we find the perpetrator of this heinous crime’

VIDEO: Explorers uncover Canada’s deepest cave in Fernie

The cave, named Bisaro Anima, was confirmed to have broken the record on New Year’s Day

Players sought for National Aboriginal Hockey Championships

ISPARC calls for bantam/midget players to register for selection camp in Kamloops

Vernon to host largest Special Olympics B.C. Winter Games in 2019

Games to be held Feb. 21-23, with more than 800 athletes expected to take part

Ex-BC Liberal staffer focused on ‘favourable’ ethnic communities in scandal: lawyer

Former communications director Brian Bonney’s sentencing hearing for breach of trust is underway

Most Read