Minister of State Bernier Discusses How to Keep Canada Among Top Countries in G20 for Entrepreneurs

TORONTO, ONTARIO--(Marketwired - Nov. 28, 2013) - The Honourable Maxime Bernier, Minister of State (Small Business and Tourism) (Agriculture), today discussed how to keep Canada among the top countries in the G20 for entrepreneurs. This discussion, held with some of Canada's most successful entrepreneurs including Rebecca MacDonald of Just Energy and Michael Sikorsky of Robots and Pencils, focused on the EY G20 Entrepreneurship Barometer 2013, which placed Canada in the top quartile among G20 countries.

"Canada ranks among the best countries in the world for entrepreneurs according to this year's EY G20 Entrepreneurship Barometer," said Minister of State Bernier. "Our government will continue working closely with Canada's business community to ensure that we create the best business environment possible for the success of our entrepreneurs."

During the discussion, the Minister of State highlighted measures from Canada's Economic Action Plan 2013, which are delivering for small business entrepreneurs. The Plan extends and expands the Hiring Credit for Small Business, a tax credit of up to $1,000 per year against a small business's increase in employment insurance premiums as a result of hiring new workers. It also increases the Lifetime Capital Gains Exemption to $800,000 from $750,000, allowing entrepreneurs to keep more of the money earned over a lifetime. The government's Red Tape Reduction Action Plan will reduce barriers to doing business while making the regulatory process easier and more predictable.

The Minister of State took the opportunity to congratulate all of the winners at the EY Entrepreneur Of The Year national awards gala, which took place the previous evening.

"Entrepreneurs create stronger communities by creating jobs and prosperity for Canadians," said Minister of State Bernier. "By lowering taxes, increasing access to financing and building an entrepreneurial culture, we are working to put the right conditions in place for entrepreneurs to succeed."

In Canada, small businesses represent 98 percent of all businesses, account for nearly 7 in 10 jobs in the private sector and contribute about 30 percent to the GDP, proving to be important economic drivers and sources of job creation.

EY is a global leader in assurance, tax, transaction and advisory services. The EY Entrepreneur Of The Year award honours outstanding Canadians who have turned their unique vision into a successful business venture.