Statement by the President of the Treasury Board to Mark Small Business Week 2014

OTTAWA, ONTARIO--(Marketwired - Oct. 21, 2014) - President of the Treasury Board Tony Clement today issued the following statement to mark Small Business Week 2014:

"Small Business Week is the perfect opportunity to pause and appreciate how crucial small businesses are in supporting Canada's long-term prosperity.

Small businesses are truly the country's engine for creating jobs. In fact, they employ approximately 70% of the total labour force in the private sector, accounting for nearly 90% of Canadian exporters and contributing about 41% to Canada's private sector Gross Domestic Product.

Because Canada's small businesses are driving jobs growth, it is important that the Government of Canada create the right conditions for them to prosper. That's why the Government launched the Red Tape Reduction Action Plan two years ago. It is eliminating unnecessary, costly, and time-consuming red tape, while maintaining high standards for safety and protection. The reforms are creating a more transparent and predictable environment for Canadian businesses. For example, the One-for-One Rule is controlling administrative burden on business in regulations, and there is currently legislation before the House of Commons to give this rule the force of law.

The Government also created service standards for 32 high-volume regulatory authorizations, covering more than 60,000 transactions with businesses each year. In addition, federal regulators have developed and published forward regulatory plans on their websites, providing Canadians with early notice of planned regulatory initiatives. Two other key red tape reforms will be implemented later this year-the Administrative Burden Baseline initiative and the posting of interpretation policies.

It is Canada's small businesses and the ingenuity and creativity of their hard-working owners and employees that create economic growth, jobs, and long-term prosperity. It is clear that cutting red tape is one of the most effective things we can do to help small businesses succeed."

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his statement is available online at www.tbs-sct.gc.ca.