Canada's Minister of Small Business and Export Promotion discussed government policies and supports that help small business owners succeed
VANCOUVER, Feb. 22, 2019 /CNW/ - Small businesses make up 98% of all Canadian businesses and employ 8 million hard-working Canadians from coast to coast to coast. They are the backbone of our economy and critical to the middle class.
From February 21 to February 22, the Honourable Mary Ng, Canada's Minister of Small Business and Export Promotion, was in Vancouver, West Vancouver, Squamish, and Whistler, British Columbia, to meet with entrepreneurs and small business owners to share how the Government of Canada is supporting them as they start up, scale up, and access new markets.
Minister Ng began her tour in Vancouver, where she attended the Canadian Health Food Association conference. She then delivered remarks at Pitch for the Purse 2019, hosted by the Forum for Women Entrepreneurs, and the 2019 Small Business BC Awards Gala. Minister Ng also visited small businesses in the area throughout the day.
On February 22, Minister Ng heard from members of the West Vancouver Chamber of Commerce. She then travelled to Squamish, where she met with female entrepreneurs from Bungalow 968 and with members of the Squamish Chamber of Commerce. Minister Ng concluded the day in Whistler, where she discussed government support for small businesses with the Whistler Chamber of Commerce. Between events, Minister Ng visited small business owners in the community.
When meeting with small business owners, Minister Ng shared the government's many initiatives that are making it easier for small business owners to do business, like:
- lowering the small business tax rate to 9%, one of the lowest rates in the world;
- getting credit card companies to lower the fees they charge businesses when their customers use credit cards;
- providing access to over a billion and a half new customers through trade deals like the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Canada-United States-Mexico Agreement, commonly called the new NAFTA;
- allowing businesses to immediately write off the full cost of machinery and equipment used for the manufacturing and processing of goods;
- allowing businesses to immediately write off the full cost of specified clean energy equipment;
- introducing the Accelerated Investment Incentive that will allow businesses of all sizes in all sectors of the economy to write off a larger share of the cost of newly acquired assets in the year the investment is made;
- investing $2 billion to help double the amount of women-owned businesses by 2025; and
- reducing over 450 federal rules that impose an administrative burden on business.
"This is a small business–friendly government that is working hard to reduce red tape and make it easier for Canadian small business owners to start up, scale up, and access new markets. When small businesses in British Columbia and communities across the country succeed, our economy grows and middle-class jobs are created."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"Canadian small businesses are the backbone of the Canadian economy, and Canada's preferential trade agreements provide new opportunity for small business exports. It is a pleasure to host Minister Ng in our communities."
–Pamela Goldsmith-Jones, Member of Parliament for West Vancouver—Sunshine Coast—Sea to Sky Country.
- Innovation and Skills Plan
- 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
- Canada-United States-Mexico Agreement
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, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]