Minister Ng announced investments in export promotion and women entrepreneurs in Alberta

Canada's Minister of Small Business and Export Promotion shared how the federal government is helping small business owners start up, scale up and access new markets

CALGARY, May 4, 2019 /CNW/ - Small businesses make up 98% of all Canadian businesses and employ 8 million hard-working Canadians from coast to coast to coast. They are the backbone of our economy and critical to the middle class.

This week, the Honourable Mary Ng, Canada's Minister of Small Business and Export Promotion, was in Calgary and Edmonton to meet with entrepreneurs and small business owners to talk about the ways the Government of Canada is supporting their success.

On May 3, Minister Ng joined the Honourable Kent Hehr, Member of Parliament for Calgary Centre, to announce a $900,000 investment in nine Calgary-area, women-led companies through the Women Entrepreneurship Fund. The successful recipients will each receive an investment of up to $100,000 to help them innovate, grow and access new markets. That evening, the Minister delivered opening remarks at the 2019 Action Chinese Canadian Together (ACCT) Foundation Leaders' Summit.

On May 4, Minister Ng travelled to Edmonton where she joined the Honourable Amarjeet Sohi, Canada's Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods, alongside Randy Boissonnault, Member of Parliament for Edmonton Centre, to announce a $1.2 million investment in 13 local women-led companies through the Women Entrepreneurship Fund. The successful recipients will each receive an investment of up to $100,000 to help them innovate, grow and access new markets.

Later in the day, Minister Ng announced a nearly $1.3 million investment in the Edmonton Chamber of Commerce to expand its Trade Accelerator Program (TAP) to communities across Alberta. These investments in the TAP expansion will help up to 345 small and medium-sized businesses in Alberta export into new markets.

Throughout her tour, Minister Ng met with small business owners and shared the government's many initiatives that are making it easier for small business owners to do business, such as:

• lowering the small business tax rate to 9%, one of the lowest rates in the world;
• getting credit card companies to lower the fees they charge businesses when their customers use credit cards;
• providing access to over a billion and a half new customers through trade deals like the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Canada-United States-Mexico Agreement, commonly called the new NAFTA;
• introducing the Accelerated Investment Incentive that will allow businesses of all sizes in all sectors of the economy to write off a larger share of the cost of newly acquired assets in the year the investment is made;
• committing to universal high-speed Internet across Canada;
• investing $2 billion to help double the number of women-owned businesses by 2025; and
• reducing over 450 federal rules that impose an administrative burden on business.

Quotes

"This is a small business–friendly government that is working hard to reduce red tape and make it easier for Canadian small business owners to start up, scale up and access new markets. When small businesses in communities across the country succeed, our economy grows and middle-class jobs are created."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion

"Alberta's businesses are some of the hardest working and most innovative businesses in the world. Whether it is our world famous energy sector, our growing clean technology industry or our high-quality agri-foods sector, Albertans are a people who know how to transform opportunity into industry. That's why our government is proud to invest in Albertan small and medium-sized businesses to help them start up, scale up and access new markets."
– The Honourable Amarjeet Sohi, Minister of Natural Resources and Member of Parliament for Edmonton Mill Woods

"Small businesses are the backbone of our economy and at the heart of communities across Alberta. From lowering the small business tax rate to removing long-standing barriers to business, our government is working hard to support small business owners and entrepreneurs as they grow, including helping them become export-ready so that they can take advantage of Canada's 14 trade agreements opening up access to 1.5 billion customers."
– Randy Boissonnault, Member of Parliament for Edmonton Centre

"It takes great courage to start a business. Canadians who take that leap work long hours and face numerous challenges. The Government of Canada is here to support Canada's small business owners, including those in Calgary and is committed to helping them succeed. That's why we have reduced the small business tax rate to 9%, giving Canada one of the lowest small business tax rates in the world and helping small business owners save up to $7,500 a year."
– The Honourable Kent Hehr, Member of Parliament for Calgary Centre

Associated links

• Innovation and Skills Plan
• Canadian Trade Commissioner Service
• CanExport
• Accelerated Growth Service
• Industrial Research Assistance Program
• Innovative Solutions Canada
• Venture Capital Catalyst Initiative
• Women Entrepreneurship Strategy
• Canada-European Union Comprehensive Economic and Trade Agreement
• Comprehensive and Progressive Agreement for Trans-Pacific Partnership
• Canada-United States-Mexico Agreement
• Budget 2019

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SOURCE Innovation, Science and Economic Development Canada