NEWMARKET-AURORA, ON – “Since taking office in 2006, the Conservative government has consistently delivered for small businesses in Canada,” said Newmarket-Aurora MP Lois Brown during Small Business Week in Canada which runs from October 18 to 24. “Our focus on targeted tax cuts, red tape reductions and increased access to financing has assisted small businesses to outperform the rest of the economy and lead us into the recovery.”
“Most people do not know that 98% of all businesses in Canada are small and medium-sized, and that they employ almost half of our workforce,” added MP Brown. “Our government recognizes the importance of small businesses and has delivered many new initiatives to ensure this sector comes out of the recession stronger than ever. The performance of small and medium-sized businesses has assisted Canada to maintain our position as one of the best-performing economies in all of the G7 countries.”
The Conservative government has delivered for small business with:
- Tax Savings – More businesses now qualify for the small business tax rate of 11% since the earnings threshold was increased from $300,000 to $500,000.
- Reduced Red Tape – Small businesses can spend a little more time on their business since the federal government achieved its commitment of a 20% reduction in the paperwork burden for small and medium-sized enterprises
- Better Access to Financing – New loan programs through the Business Development Bank of Canada and FedDev have been created to allow better access to financing, as well as loan limits in existing programs have been increased.
“I’m pleased to report that, as of 2009, our government has achieved our commitment of a 20% reduction in paperwork and red tape for small businesses,” added MP Brown. “Entrepreneurs need to focus their attention on running their business and serving their customers. The less time they spend filling out government forms, the better it is for our economy.”
