Canada’s small businesses are engines for job creation, representing 48 percent of the total labour force in the private sector, and contributing approximately 30 percent to Canada's Gross Domestic Product (GDP). The federal government recognizes the important contribution made by small businesses across the country and the challenges they face.
Canada Revenue Agency Delivers on the needs of Small Business
The Government has dedicated significant effort to reducing the administrative burden associated with the tax system, and the positive impacts of this sustained approach are evident.
Canada Small Business Financing Program
Through Canada's Economic Action Plan, the federal government increased the maximum loan amount under the Canada Small Business Financing Program to $500,000 for real property.
Hiring Credit for Small Business
Economic Action Plan 2013 proposes to expand and extend the temporary Hiring Credit for Small Business.
Reducing Red Tape
Through the Red Tape Reduction Action Plan, the Government of Canada is reducing the regulatory burden faced by Canadian businesses.
Reducing Taxes for Small Businesses
Through Canada’s Economic Action Plan, the Government is committed to supporting the growth of small businesses.