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Driving Local Economic Future Through Small Business Investment and Homegrown P3M Consulting
May 27, 2025
By: Blackbeez Consulting
“In a time of increasing global uncertainty, driving our local economic future through small business investment and homegrown P3M Consulting in Canada is critical.”
In a time of increasing global uncertainty, driving our local economic future through small business investment and homegrown P3M Consulting in Canada is critical. The re-emerging threat of U.S. tariffs and strained trade relations between Canada and the United States have once again exposed the vulnerabilities in our economic infrastructure. Certainly this instability serves as a pressing reminder of the importance of strengthening our domestic capabilities—starting with the backbone of our economy: small and medium-sized businesses.
One of the most overlooked opportunities lies in the strategic investment in Canadian-owned Project, Program, and Portfolio Management (P3M) consulting firms. As a result, for years, a significant share of consulting dollars—especially for large-scale transformation projects—have flowed to U.S.-based multinational firms. While these firms provide value, relying on foreign expertise limits Canada’s ability to build long-term internal capacity, especially in critical sectors such as healthcare, infrastructure, energy, and finance.
Why Now Is the Time for Canada to Prioritize Small Businesses
Studies show that small businesses account for over 98% of all businesses in Canada and employ nearly two-thirds of the private labour force; that is to say that they are the heart of local economies, the incubators of innovation, and the foundation of national resilience. Indeed, when government investment prioritizes small Canadian firms, it not only circulates capital within the country but also strengthens local expertise, creates high-value jobs, and keeps tax revenue onshore.
The Role of P3M Firms in Economic Development
Project, Program, and Portfolio Management (P3M) firms play a pivotal role in guiding businesses, governments, and non-profits through complex change. These firms ensure that initiatives are aligned with strategic objectives, delivered on time and on budget, and generate measurable outcomes. As Canada undertakes infrastructure upgrades, digital transformation in public services, healthcare reform, and climate initiatives, P3M firms are essential to getting these projects off the ground and delivering value.
As such, investing in Canadian-based P3M consultancies allows us to develop our own cadre of expert advisors who understand Canadian policy, business culture, and regulatory environments—while contributing directly to our GDP.
Diversifying Away from Primarily American Consulting Firms
For decades, Canadian corporations and public entities have leaned heavily on U.S.-based giants. While these firms bring global experience, their dominance limits opportunities for Canadian entrepreneurs and consultants who are equally capable, often more agile, and deeply invested in the communities they serve.
By diversifying investments to include Canadian P3M firms, government bodies and private sector organizations can:
- Foster homegrown innovation
- Reduce reliance on foreign expertise
- Build sustainable, long-term advisory relationships
- Ensure better alignment with Canadian values and policy goals
- Enhance regional economic development outside major urban centres
Why Canadian Corporations Should Join the Movement
The private sector plays a crucial role in shaping the consulting and advisory ecosystem. By choosing to work with Canadian-owned P3M firms, corporations can contribute to national resilience while benefiting from localized insights and competitive pricing. Moreover, many Canadian firms are founded by industry veterans who have worked in both global and domestic environments, offering a blend of best practices and culturally relevant strategies.
Unquestionably, supporting local consulting businesses also demonstrates a commitment to economic patriotism—helping the communities in which these corporations operate thrive.
The Path Forward: A National Strategy for Growth
To unlock Canada’s full economic potential, government policy should include targeted support for small consulting and professional services firms through:
- Federal and provincial procurement reforms that prioritize Canadian suppliers
- Grants and funding streams tailored to professional services and advisory firms
- Tax incentives for private companies that contract with Canadian-owned firms
- Investments in training and capacity-building for P3M certification and education
- Regional innovation programs that fund local project and program management
Final Thoughts
Investing in Canadian small businesses—particularly in the growing and critical area of P3M consulting—isn’t just good economics. It’s a strategic necessity.
By reducing dependency on foreign firms and empowering local talent, we can build a more self-sufficient, innovative, and resilient Canada. One that’s prepared not only to withstand international pressures but also to lead with its own expertise, vision, and capacity for transformation.
Now is the time for our government and corporate leaders to champion the Canadian consulting economy—and secure a future made in Canada, by Canadians, for Canadians.
Interested in learning how Canadian P3M firms can support your organization’s strategic goals? Let’s connect.
