Party leader Justin Trudeau has promised that a re-elected Liberal government will continue to support small businesses.
This statement comes in light of Small Business Week, which runs from Oct. 20-26.
According to a press release issued Sunday, a Liberal government will:
- Introduce the Canada Entrepreneur Account, administered through the Businesses Development Bank of Canada, to provide up to 2,000 entrepreneurs with as much as $50,000 each year to launch their new business
- Cut the cost of federal incorporation by 75 per cent
- Eliminate all fees from certain business advisory services
- Eliminate the "swipe fee" on HST and GST for credit transactions, which will save businesses nearly $500 million a year in fees
- Ensure every Canadian business has access to reliable, high-speed internet by 2030, including in rural, remote, and northern communities
Read the full text release below.
Statement by the Leader of the Liberal Party on Small Business Week
The Leader of the Liberal Party of Canada, Justin Trudeau, today issued the following statement on Small Business Week, which runs from October 20 to 26, 2019:
“On Small Business Week, we celebrate the local business owners and entrepreneurs who make our country such a great place to live.
Small and medium sized businesses grow our economy, create jobs, and help Canada thrive. Behind every small business is an entrepreneur – dedicated Canadians who dream big, work hard, and move our country forward. In the last four years, they’ve helped push unemployment to historic lows and create over a million new jobs for Canadians. From mom & pop shops to small home-based startups to growing mid-sized companies, Canada’s entrepreneurs are the backbone of our economy and our communities.
That’s why our Liberal government has worked hard every day to help our entrepreneurs get ahead. From reducing the small business tax rate to the lowest in the G7, to helping more people start their own business with the Women’s Entrepreneurship Strategy, our Liberal government has made supporting small businesses a top priority. From CETA to the CPTPP, we signed a record number of trade deals, helping our businesses compete in markets around the world. We stood firm during the NAFTA renegotiations, to defend our trade relationship with Canada’s largest trading partner. And when Conservatives wanted to make concessions and settle for less, we fought – and won – to protect Canadian jobs and get a good deal for our workers and the many businesses throughout the supply chain that employ them.
We still have work to do. Today, nearly one in five entrepreneurs say it’s still a challenge to get the financing they need from traditional financial institutions like banks and credit unions. To help more Canadians start and grow a business, a re-elected Liberal government will create the Canada Entrepreneur Account, administered through the Business Development Bank of Canada, to provide up to 2,000 entrepreneurs with as much as $50,000 each year to launch their new businesses.
To make it easier for our small and medium-sized businesses to succeed, we’ll cut the cost of federal incorporation by 75 per cent, eliminate all fees from certain business advisory services, and eliminate the “swipe fee” on HST and GST for credit transactions – which will save businesses nearly $500 million a year in fees. And to help small businesses reach new customers around the world, we will make sure every Canadian business has access to reliable, high-speed internet by 2030, including in rural, remote, and northern communities.
In the last four years, Canada’s entrepreneurs and business owners have built a strong economy and laid the foundation for a better future. And this progress has been possible because our Liberal government rejected Conservative cuts and austerity – and chose instead to invest in the middle class and people working hard to join it. Tomorrow, Canadians will have a choice to make, and that choice couldn’t be more clear: go backwards with cuts to services and support, or choose forward together for a more prosperous future. Let’s do something small business owners do every day – roll up our sleeves and move forward."
