Ottawa, November 13, 2017—To mark the beginning of Global Entrepreneurship Week, the Honourable Bardish Chagger, Minister of Small Business and Tourism and Leader of the Government in the House of Commons, today made the following statement:
“Global Entrepreneurship Week is an opportunity to celebrate the hard work and invaluable contributions made by Canadian entrepreneurs and small businesses to our great country.
“As Canada’s Minister of Small Business and Tourism, I have had the privilege of meeting entrepreneurs in communities large and small from coast to coast to coast. I have seen first-hand how hard they work, and our government understands how important their contributions are to Canada’s economy: 99 percent of all firms in Canada are SMEs, and they employ 10.5 million Canadians.
“Our government is proud to work with small business owners right across Canada and to provide the support they need to thrive and grow.
“Our government recently announced that we are reducing the small business tax rate to 9 percent by 2019. Canada already has the lowest small business tax rate in the G7. This reduction will further encourage small businesses to invest in growing their businesses. To further support their efforts, our government is working with entrepreneurs at every stage of their development. The Business Development Bank of Canada, our only bank dedicated to small businesses, supports more than 42,000 entrepreneurs with financing and expert advice, while the Canada Small Business Financing Program guarantees thousands of small business loans made by Canadian financial institutions. And we are making important investments in infrastructure, innovation and science to help position our economy for growth.
“Our government’s efforts are paying off for Canadians. Canada is among the world leaders in terms of the number of companies started, per capita. Since 2015, our economy has created more than 500,000 new jobs. Our growth now leads the G7.
“This Global Entrepreneurship Week, we have much to celebrate. And I look forward to continuing to engage with entrepreneurs as they work tirelessly to create well-paying middle class jobs for Canadians.”
For further information, please contact:
Director of Communications
Office of the Minister of Small Business and Tourism
Innovation, Science and Economic Development Canada