Here in Vancouver Granville, there are so many small businesses that shape our day-to-day lives by providing the goods and services that we need. They are the backbone of our community, and the hard working men and women that found and own them deserve their community’s support and recognition.
Supporting small businesses is critical to our Government. In fact, 98% of all businesses in Canada are small businesses and they represent 90% of the private sector workforce – that’s over 10.7 million hard-working Canadians!
Our Government has taken the following steps to support small business across the country:
- Cutting costs by lowering the Small Business Tax Rate from 11% to 9%
- Getting credit card companies to lower the fees they charge businesses
- Helping small businesses get loans through the Canada Small Business Financing Program, a loan-sharing loss program that increases access to debt financing from financial institutions by sharing the risk with lenders
- Launching Innovation Canada, a one-stop-shop website for small business owners to find the government programs and services they’re eligible for
- Offering direct lending, growth, and transition capital, venture capital, securitization and consulting services through the Business Development Bank of Canada (BDC)
- Providing $14M over two years to Futurpreneur Canada, a national not-for-profit organization that helps young entrepreneurs aged 18-39 by providing mentorship, learning resources and start-up financing to help them bring their business ideas to life and to market
- Committing $8.6 million to the Indigenous Tourism Association of Canada and work is underway with other governments and tourism associations to help grow businesses, create jobs, and support Indigenous communities
- Launching the $2 billion Women Entrepreneurship Strategy to help double the amount of women-owned or women-led businesses by 2025