Small Businesses – General
o To support more, and larger, business research and development projects, Budget 2018 also announces that IRAP will support projects up to a new threshold of $10 million.
o $62 million over five years, starting in 2018 19, with $12.4 million ongoing to improve access the National Research Council’s specialized facilities and equipment, scientists, and technical services to small and medium sized enterprises and universities and colleges by lowering its access fees charged to these groups;
o Budget 2018 will provide the consolidated program with $13.5 million over five years, starting in 2018‑19, and $3 million ongoing for 15 new Innovation Advisors to support Canadian high potential firms.
o (Of this amount, $105 million will support nationally coordinated, regionally tailored, support for women entrepreneurs. – see above)
Four Pillars to a Women’s Entrepreneurship Strategy – 1) Helping Women-Owned Businesses Grow; 2) Increasing access to capital; 3) Improving Access to Federal Business Innovation Programming; 4) Enhancing Data and Knowledge
o To help women-led businesses grow, Budget 2018 provides $105 million over five years for the regional development agencies to deliver nationally coordinated,regionally tailored support to women entrepreneurs.
▪ $20 million will be used for a grant program (not in Budget).
o To improve access to capital for growth and export opportunities, the Government is making available $1.4 billion over three years in new financing for women entrepreneurs through the Business Development Bank of Canada and Export Development Canada.
▪ In addition to an increase to $200 million (from $70 million) for venture capital investments in women-led technology firms over five years through BDC Women in Technology Fund.
o To expand trade opportunities, Budget 2018 proposes that the Government invest $10 million over five years to connect women with expanded export services and opportunities through the Business Women in International Trade program, with a specific focus of taking advantage of new opportunities arising from CETA and CPTPP.
o To improve access to federal business innovation programming, Budget 2018 announces that the Government’s reform to federal innovation programs will include a universal goal to improve the participation of underrepresented groups, including women entrepreneurs, in the innovation economy.
o To ensure that women-owned businesses have equal opportunity to participate infederal procurement processes, the Government intends to introduce measures to increase the participation rate for women-owned small and medium-sized businesses in the federal procurement supply chain to 15 per cent. (Currently just 10% – an increase of 50%)
o To advance the collection and dissemination of evidence-based research, data, and best practices concerning women entrepreneurs, Budget 2018 makes available up to $9.5 million over three years to support third-party proposals, through a competitive process to be administered by ISED.
o 97% of Canadian Small Businesses will not be affected
o Simplified proposal based on the consultation with tax experts and Canadians over last year.
o Under no circumstances are there additional taxes on passive investment income. (i.e. no 73% tax rate)
© 2017 Canadian Federation of Independent Grocers