Industry Canada

Industry Canada

October 05, 2010 12:00 ET

Minister of State Moore Highlights Government Support for Small Businesses at the New Brunswick Innovation Forum

SAINT JOHN, NEW BRUNSWICK--(Marketwire - Oct. 5, 2010) - The Honourable Rob Moore, Minister of State (Small Business and Tourism), today addressed small business leaders at the New Brunswick Innovation Forum. The Minister of State discussed the importance of competitiveness and productivity in today's changing marketplace and the role the federal government is playing to ensure Canadian small businesses continue to succeed.

"Small and medium-sized enterprises (SMEs) are the cornerstone of our economy," said Minister of State Moore. "The Government of Canada understands the importance of supporting our country's entrepreneurs in order to keep them competitive and prosperous here at home and around the world."

The Harper government is taking steps to help SMEs compete and become more profitable. The increase in the employment insurance premium for 2011 is being limited to five cents. This will allow businesses to budget for changes over time and is expected to save businesses and employees over $1 billion in 2011.

Delivering on a commitment made in Canada's Economic Action Plan, Minister of State Moore and the Honourable Rona Ambrose, Minister of Public Works and Government Services and Minister for Status of Women, recently announced the establishment of the $40-million Canadian Innovation Commercialization Program. This program will help provide a kick-start to small businesses by allowing them to test and commercialize new product offerings by first testing them within the federal government.

Commercialization is also a key element of Canada's Science and Technology Strategy, which was launched by Prime Minister Harper in 2007 to build Canada's knowledge economy. Recently concluded consultations on a strategy for Canada's digital economy have affirmed that, to lead in this area, we must adopt and use information and communications technologies in all sectors to fully realize their potential.

On September 30, to ensure that the concerns of SMEs are heard, Minister of State Moore announced the creation of a new private sector advisory committee on small business and entrepreneurship that will provide advice on a wide range of issues, such as reducing red tape and improving access to federal programs and information. This feedback will build on the work of the former Advisory Committee on Paperwork Burden Reduction, a public–private sector working group whose advice was instrumental in helping the Government of Canada achieve its goal of reducing the paperwork burden on small businesses by 20 percent.

The Harper government has also lowered tax rates and increased the tax threshold for SMEs, which will allow businesses in New Brunswick and across Canada that earn less than $500 000 to benefit from significant tax savings. By 2012, Canada will have the lowest corporate tax rate in the G7.

"Acting on commitments made in Canada's Economic Action Plan, our government is taking the necessary steps to ensure that Canadian businesses remain a powerful force, driving innovation, productivity, job creation and economic growth," said Minister of State Moore. "We look forward to supporting entrepreneurs and discovering new ways to simplify the way we do business in Canada."

Contact Information

  • Office of the Honourable Rob Moore
    Minister of State (Small Business and Tourism)
    Catherine Godbout
    613-943-7023
    613-668-5406 (cell)
    or
    Industry Canada
    Media Relations
    613-943-2502