Minister Ng met with small business owners and entrepreneurs to discuss federal support for small businesses
WINNIPEG, Jan. 22, 2019 /CNW Telbec/ - Small businesses make up 98% of all Canadian businesses, employing 8 million hard-working Canadians from coast to coast to coast. They are the backbone of our economy and critical to the middle class.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, met with small business owners and entrepreneurs in Winnipeg to highlight how the Government of Canada is making it easier for small businesses to start up, scale up and access new markets.
Minister Ng joined business leaders at World Trade Centre Winnipeg for a discussion on exporting. She then visited local small businesses with Member of Parliament Doug Eyolfson and later joined Indigenous business leaders and Member of Parliament Robert-Falcon Ouellette for a roundtable with the Aboriginal Chamber of Commerce. Following this, the Minister and the Mayor of Winnipeg, Brian Bowman, visited local members of the Canadian Federation of Independent Business. The Minister concluded her time in Winnipeg by participating in a roundtable with Chinese-Canada business leaders hosted by Member of Parliament Terry Duguid, followed by an early Lunar New Year celebration.
When meeting with small business owners, Minister Ng highlighted the Government's many initiatives that are making it easier for small businesses, such as:
- 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 number of women-owned businesses by 2025; and
- reducing over 450 federal rules that impose an administrative burden on business.
Quotes
"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 Winnipeg and across Canada succeed, our economy grows and middle-class jobs are created."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"It takes great courage to start a business. Canadians who take that leap work long hours and face numerous challenges. The Government of Canada is here to support Canada's small business owners, like the ones in Winnipeg, and is committed to helping them succeed. That's why we have reduced the small business tax rate to 9%, giving Canada one of the lowest small business tax rates in the world and helping small business owners save up to $7,500 a year."
– Doug Eyolfson, Member of Parliament for Charleswood–St. James–Assiniboia–Headingley
"Winnipeg has some of the fastest-growing neighborhoods, and we are seeing many new small businesses open and thrive in our communities. Our government has lowered the small business tax rate to 9% down from 11%, the lowest in the G7. Our support has helped entrepreneurs, including more women business owners, create and run successful businesses and contribute to our economy."
– Terry Duguid, Member of Parliament for Winnipeg South and Parliamentary Secretary to the Minister of Status of Women
"It takes courage to start a small business, and along the way people are going to need help from their family, community and—certainly—their government. That is why our government has lowered the small business tax rate to 9% down from 11%, the lowest in the G7. Our community is the heart of Canada, and its business owners will continue to be a shining example of perseverance and determination."
–Dr. Robert-Falcon Ouellette, Member of Parliament for Winnipeg Centre
Associated links
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- CanExport
- 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
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SOURCE Innovation, Science and Economic Development Canada
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]
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