Ottawa, ON?Larry Maguire, Member of Parliament for Brandon-Souris is pleased to celebrate BDC's Small Business Week, which takes place from October 19-25, 2014.
"Our Government is pleased to acknowledge and honour the immense contributions that small business owners and entrepreneurs make to the prosperity of Southwestern Manitoba," said Maguire. "Small businesses are the backbone of the Canadian economy, employing approximately 70% of the total labour force in the private sector, accounting for nearly 90% of Canadian exporters, and contributing about 41% to Canada's private sector gross domestic product."
Helping Canada's small business community continue to grow and thrive is essential to Canada's continued economic prosperity. The Government of Canada has introduced numerous measures since 2006 to support small business growth, including the temporary hiring credit and the Employment Insurance (EI) rate freeze. In total, small businesses have seen their taxes reduced by 34% since 2006.
The Government also recently introduced the new Small Business Job Credit, which will reduce EI premiums by 15% for the next two years. It is estimated that this will result in savings of approximately $550 million for small businesses over the next two years.
Maguire concluded, "I want thank all of our hardworking small business owners and entrepreneurs for the enormous contributions they make to our communities and our region's continued economic success. It is essential that our local small businesses remain globally competitive and successful. That is why our Government has taken concrete measures to support them, including ongoing tax relief and cutting needless red tape."
For more information on BDC's Small Business Week, visit http://www.bdc.ca/EN/small-business-week/