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Ottawa, Ontario, October 21, 2022 /CNW/ – Small businesses are the backbone of Canada’s economy and the heart of its communities.They are helping Canadians every day and the Canadian government Canada continue to support them.
Through BDC Small Business Week 2022, Minister of International Trade, Export Promotion, Small Business and Economic Development Mary Ng shared how the government Canada continues to support small businesses across the country to help them grow, innovate and adapt to changing times.
The ministers started the week by highlighting updates to the Canadian Small Business Financing Program at an event at the Canadian Chamber of Commerce. OttawaThese changes are aimed at increasing financing options while reducing red tape for small businesses. Updates include expanded lending eligibility to cover intangibles.Increased maximum loan amount from $350,000 To $500,000; extend government compensation period for improvements in facilities and tenure;and introduction of maximum line of credit option $150,000.
Minister Ng also visited Prince Edward Island Meet with representatives from the PEI Chamber of Commerce and Tourism Industry Association Prince Edward Island So do small business owners affected by Hurricane Fiona. She reaffirmed the government’s commitment to provide. $300 million with additional disaster relief funds to support local businesses and communities across the Atlantic region, Quebec Rebuild and recover.
At StartUp Canada’s Startup Day 2022 session on the 2021 Mastercard Index of Women Entrepreneurs, Ahmed Hussen, Minister for Housing and Diversity and Inclusion on behalf of Minister Ng, said: Canada is building an economy that works for all by empowering women business owners and entrepreneurs. $6 billion Women’s Entrepreneurship Strategy (WES). The WES program, along with the Black Entrepreneurship Program, will help remove barriers that a diverse minority of entrepreneurs face in achieving their business goals, bring more talent into the economy, create jobs, and strengthen communities. Helpful.
Minister Ng also emphasized the government’s continued support for SMEs, including extending repayment deadlines. Canada Emergency Business Account (CEBA) Loans on an annual basis December 31, 2023The Minister referred to Canada’s Digital Recruitment Program, which provides grants and advisory services to help small businesses enhance their e-commerce profile and incorporate technologies that help them be more productive and competitive.
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“Small businesses are the heart of our communities and the backbone of our economy. They account for 98% of all Canadian businesses, employ over 10 million hardworking Canadians, and make our region unique and dynamic. This Small Business Week invites all Canadians to join me in celebrating our neighbors, our friends and the people who make our community so special. Please. Whatever opportunities and challenges lie ahead for small businesses, our government will continue to support them and help them bring their dreams to market. Canada and around the world. ”
– Ms Mary Ng, Minister of International Trade, Export Promotion, SMEs and Economic Development
simple facts
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BDC Small Business Week is a registered trademark of the Business Development Bank of the Business Development Bank. Canada This year, it will be held from October 16th to 22nd, with the theme “Dare to do things different: Power up your growth.”
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The 2022 budget introduced more funding to help businesses recover strongly from the pandemic. Highlights include:
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Source Innovation, Science and Economic Development Canada
View original content: http://www.newswire.ca/en/releases/archive/October2022/21/c4773.html
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