October 4, 2019
NICKEL BELT- GREATER SUDBURY- A re-elected Liberal government will make it easier and more affordable for hard-working Canadians to start and grow their own businesses.
Right now, seven out of every ten Canadians work for small and medium-sized businesses — making them Canada’s largest employers and drivers of our economy. That includes businesses here in Nickel Belt- Greater Sudbury. Entrepreneurs create jobs and help us build communities. They open doors to new experiences, support youth sports and grow the economy.
“Four years ago, we heard time and time again from business owners that the cost of doing business was a barrier. After a decade of stalled economic growth and unemployment under the Conservatives, Canada’s economy has rebounded. To keep that momentum moving forward, we cut the small business tax rate and now we’re making it possible for anyone here in Nickel Belt – Greater Sudbury with a good idea and a passion for what they do to start their own business.” added Marc Serré, the Liberal candidate in the riding of Nickel Belt. “This will create jobs, stall out-migration, attract and retain new people to the area which will inevitably help grow the economy.”
The Nickel Belt- Greater Sudbury community is home to many local shops and cafés, as well as a multitude of innovative manufacturing and mining companies. It offers a diverse mix of businesses that are integral to our Canadian economy from a local and International standpoint and are sure to reap the benefits of this tax cut.
In addition to cutting the small business tax rate from 11 per cent to 9 per cent, the lowest rate in the G7, a re-elected Liberal government will remove barriers to success by cutting fees, reducing red tape, and creating funds for new business owners to find support. We will also:
- provide up to 2,000 entrepreneurs a year with as much as $50,000 to launch a new business;
- give $250 to every new business looking to expand their online services;
- eliminate all fees from the Business Development Bank of Canada (BDC), Export Development Canada (EDC), and Farm Credit Canada, for business advisory services like mentorship and training;
- cut the cost of federal incorporation by 75 per cent; and
- eliminate the “swipe fee” on HST and GST for credit transactions — which will save businesses nearly $500 million a year in fees, according to the Canadian Federation of Independent Business.
These measures build on four years of strong Liberal support for small- and medium-sized businesses in Canada, including:
- cutting the small business tax rate to nine per cent — the lowest rate in the G7 — which saves businesses as much as $7,500 per year;
- allowing businesses to write-off job creating investments;
- making regulations smarter and eliminating unnecessary and outdated regulations; and
- opening new markets for businesses by introducing the Export Diversification Strategy.
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|BACKGROUNDER||Making it easier and more affordable to start and grow a business|
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