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Business Business Profile Vancouver’s central business district coincides with the main retail areas Downtown and is supplemented by eight regional town centres within the Greater Vancouver Regional District. Traditionally, Vancouver’s dominant industries have been in the primary sector, drawing on the vast wealth of resources in the province of British Columbia. Even today, the industries that represent the largest proportion of the 134 firms with head offices in Vancouver are in the forestry and mining sectors, followed by construction, food distribution, retail and financial services. The largest of these firms are Westcoast Energy, Finning International (heavy equipment), Telus (telecommunications), Teck Cominco (mining), HSBC (banking), Intrawest Corp (resort developers) and BC Hydro. Other important sectors include tourism and conventions, agriculture and export and transhipment industries, taking advantage of the city’s rail, road and sea connections. Vancouver’s port is one of North America’s busiest and one of the top 20 busiest in the world. More than 70 million tonnes of cargo (principally coal, grain, sulphur, potash and wood pulp) pass through the Port of Vancouver every year and a further 40 million tonnes through the district’s other two ports. The past years have seen an increase in film production in British Columbia and the majority of the C$1.1 billion spent in 2001 was in Vancouver and the Lower Mainland. Around 80% of the working population are employed in the service sector, with the bulk of the rest working in construction and primary industries. The seasonally adjusted unemployment rate in Vancouver was 8.3% in May 2002, compared to the average for the province at 9.5% and the national average of 7.7%. Business Etiquette Normal business courtesies should be observed in Vancouver, although Vancouverites are less formal than Europeans and tend to use first-name terms after initial introductions have been completed. Business cards are usually exchanged on meeting a colleague for the first time – and a compliment on Vancouver’s beauty is sure to be well received. Both men and women generally wear suits, although short-sleeved shirts are acceptable in summer. Appointments and punctuality for business meetings are naturally expected. Business hours are usually 0900-1700 weekdays, although may start or end an hour earlier or later, depending on the company. Lunch meetings are more common than breakfast meetings, however, these are rarely alcohol-fuelled affairs. Most business entertainment takes place in bars and restaurants and it is unusual for a business visitor to be invited into someone’s home. |
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