On the first day of policy wins we want to celebrate the growth of SMEs and entrepreneurs in 2018.
Earlier this year, the leaders of the B7 Summit identified scaling up small business as a priority for their governments for the first time.
In Federal Budget 2018, the suite of assistance programs for entrepreneurs was streamlined from 92 to 31, with a commitment to focus on high-potential, high-growth SMEs, which we called for in our 2014 report, A Path Forward for Entrepreneurship in Canada. Additionally, an investment of $2 million annually for the Treasury Board Secretariat to “establish a central performance evaluation team to undertake innovation performance evaluations on an ongoing basis” was set, which aligns with our 2015 policy resolution, All-of-Government Metrics Needed to Measure Federal Procurements Supporting Canadian Innovation Across All Business Sizes.
The recent regulatory reforms announced in the Fall Economic Update draw heavily on our report on how to improve the regulatory system. If the government follows through, it should help provide some relief from the regulatory burden that makes it so hard for many small businesses to succeed.
Considering SMEs make up 99% of all businesses, we will be enhancing our offerings to small and medium-sized members beyond advocacy to include a digital platform in 2019.