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Large businesses at the heart of Quebec’s prosperity - Executive summary

Published on September 4th 2019
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A society’s prosperity rests on the readiness of its businesses to make investments and take risks, multiply economic opportunities, organize production and the exchange of goods and services, and put forth innovations that keep the economy forging ahead. Businesses are also on the frontlines of employee skill development. They are integral to the growth of the labour market and their activities lend to the overall improvement of a society’s quality of life.

Supporting entrepreneurship and start-ups is critical for any dynamic and flourishing economy. Supporting business growth is equally indispensable. A society’s economic development in fact relies on the capacity of its businesses to achieve a certain stature. Indeed, it is their capacity to grow that enables their capacity to make investments towards securing sustainable and competitive footholds in an increasingly globalized and uncertain world.

It is precisely in this respect that large businesses serve as economic hotbeds for economic and social progress. Be they headquartered in Quebec or elsewhere, the economic benefits derived from their activities are real — from GDP, economic internationalization and gains in productivity to skill development, job creation and raises in the standard of living. The capacity of large businesses to invest also translates into R&D spending which allows them to take on leading roles inside the economy’s innovation system. The activities of large businesses also stimulate small and medium-sized business activity and help strengthen local economic ties while their philanthropic initiatives extend further into the community and help contribute to overall well-being.

Their contributions across these many fronts make large businesses pillars of prosperity. Economic policy has much to gain from understanding the place of large businesses and their role within Quebec’s economy. It is for this reason that the CPQ, in its role as representing employers of all sizes, sought to explore the contributions of large businesses and bring to light the pivotal economic role they play.

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Thanks to the study's sponsors

Large businesses at the heart of Quebec’s prosperity - Executive summary