Industry Canada

Industry Canada

March 04, 2015 15:15 ET

A Stronger Economy in British Columbia: Industry Minister Moore Discusses Support for Small Business in the Lower Mainland

OTTAWA, ONTARIO--(Marketwired - March 4, 2015) - Industry Canada

James Moore, Minister of Industry and Minister Responsible for British Columbia, today participated in a round-table discussion with local business leaders hosted by the Surrey Board of Trade. Minister Moore highlighted federal initiatives to help local entrepreneurs grow and create jobs, including creating the right conditions for Canadian businesses to expand into new and emerging markets around the world.

The Minister underlined the Harper Government's economic policies that make Canada the most attractive country in the world for investment: lower taxes, balanced budgets, less debt and an ambitious free trade agenda.

Quick facts

  • Small businesses represent 98 percent of all businesses in Canada, account for nearly 7 in 10 jobs in the private sector and contribute about 30 percent to our gross domestic product.

  • The government has focused on establishing the right conditions for success, such as lowering taxes, cutting the corporate tax rate from over 22 percent in 2007 to 15 percent today, and removing the federal capital tax.

  • Canada's two most recent trade agreements, the Canada-European Union Comprehensive Economic and Trade Agreement and the Canada-Korea Free Trade Agreement, promise to add at least $14 billion annually in new economic activity, equivalent to creating more than 90,000 new jobs.

  • Both the International Monetary Fund and the Organisation for Economic Co-operation and Development expect Canada to be among the strongest growing economies in the G7 over this year and the next.

  • In 2013, Canada leapt from sixth to second place in Bloomberg's ranking of the most attractive destinations for business.

  • According to KPMG, total business tax costs in Canada are the lowest in the G7.

Quotes

"Our government recognizes that Canadian entrepreneurs create jobs and spur economic growth, which is why our government is committed to establishing the best business environment possible for them to succeed. We are continuing with our low-tax plan to create jobs and growth by making it easier for companies to do business in Canada and promoting Canadian exports in new global markets. Small business owners across Canada are telling us that we are on the right track, a sentiment that was echoed by the Surrey businesses I met with today. That's why we've lowered taxes for families and for businesses that create jobs."

- James Moore, Minister of Industry

"Small and medium-sized enterprises are the backbone of Canada's economy, and the Surrey Board of Trade is proud to support our members as they grow and develop their business. We are always looking for opportunities to connect and work with the federal government, and we were pleased to have Minister Moore join some of our members today to talk about their key priorities-fostering a growing, competitive, knowledge-based Canadian economy."

- Anita Huberman, CEO, Surrey Board of Trade

Follow us on Twitter: @industrycanada

Contact Information

  • Jake Enwright
    Press Secretary
    Office of the Minister of Industry
    343-291-2500

    Media Relations
    Industry Canada
    343-291-1777
    media-relations@ic.gc.ca