OTTAWA, Dec. 7, 2018 /CNW/ - The Honourable Mary Ng, Minister of Small Business and Export Promotion, today announced that Sheldon Levy, an experienced innovation leader and CEO of NEXT Canada, has been named special advisor on scaling up small and medium-sized enterprises (SME).
Mr. Levy's principal role will be to advise on improving the scale-up ecosystem to support the Minister of Small Business and Export Promotion in her mandate to help Canadian SMEs scale up.
There are over one million businesses in Canada, 99% of which are small and medium-sized. These businesses create millions of jobs, increase Canada's productivity and grow our economy. However, growth remains a challenge for mid-sized businesses particularly, and only 12% of Canadian SMEs are currently exporting.
The Government of Canada has set the goal of doubling the number of high-growth firms by 2025 and increasing Canadian overseas exports by 50% by 2025.
Mr. Levy, along with Innovation, Science and Economic Development Canada, Global Affairs Canada and other government and non-government partners, will work with a group of high-potential SMEs to identify barriers to scaling up and to leverage the ecosystem to break down these barriers.
Mr. Levy's work will inform new approaches and policies to ensure Canadian SMEs can successfully scale up.
In addition to being CEO of NEXT Canada, Mr. Levy is Honorary Chair of the Advisory Board of the Brookfield Institute for Innovation and Entrepreneurship, an organization of which he is a founder. Previously, Mr. Levy served as Ontario's Deputy Minister of Advanced Education and Skills Development and as President and Vice Chancellor of Ryerson University, where he initiated Ryerson's Digital Media Zone (DMZ).
"Our government is working hard to help Canadian small and medium-sized businesses start up, scale up and access new markets. Canadian SMEs have said they are facing difficulties when it comes to scaling and exporting, and our job is to help them. I welcome the appointment of Mr. Levy as special advisor and look forward to working with him to find accessible, simple and effective methods to help Canadian businesses succeed."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"In recent years, the Government of Canada has made great strides in supporting the work of entrepreneurs. I am excited to assist the Minister of Small Business and Export Promotion in helping Canadian SMEs scale up and become more productive, more innovative and more export-oriented. In an age of uncertainty, it is critical that Canada's most promising companies have a clear view of their path to growth."
– Sheldon Levy, special advisor on scaling up small and medium-sized businesses
- Small and medium-sized enterprises (SME) account for the vast majority of businesses in Canada—99.8%. These 1.1 million SMEs employ 89.6% of the private sector workforce (10.7 million Canadians) and are responsible for 52.5% of Canadian GDP generated by private sector businesses.
- Our government is lowering the small business tax rate to 9% in 2019, putting $7,500 back into the pockets of Canadian small business owners annually. This tax rate is the lowest among G7 countries, lower than in France, Germany and even Japan.
- To help SMEs find funding, advice and information, the Government launched Innovation Canada, an online one-stop shop for business owners.
- On average, firms that export pay higher wages than firms that do not export; however, only 12% of Canadian SMEs export.
- The Government is helping SMEs expand into new markets abroad—and reach over 1 billion new customers—by promoting export through the negotiation and implementation of free trade agreements such as the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
- Innovation and Skills Plan
- Innovation Canada
- The Canadian Trade Commissioner Service
- Accelerated Growth Service
- Industrial Research Assistance Program
- Innovative Solutions Canada
- Venture Capital Catalyst Initiative
- Women Entrepreneurship Strategy
- Canada-European Union Comprehensive Economic and Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
SOURCE Innovation, Science and Economic Development Canada
For further information: Mallory Clyne, Director of Communications, Office of the Minister of Small Business and Export Promotion, 343-291-3553; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]