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Canada: Budget 2018 Impact for Entrepreneurs: Billion-Dollar Support for Women, No Hidden Surprises For Women-Owned Businesses
Financial Post – Canada
by: Sandy Maag, EY
….In short, there were no major changes for small businesses on the tax front. Instead, the government focused on women’s entrepreneurship, new plans to simplify how governments work with growing businesses and encourage entrepreneurship.
Women entrepreneurs: By far, the largest net new impact on Canada’s entrepreneurial class is the $1.65 billion in new financing being made available to women-owned businesses, to be delivered over three years through the Business Development Bank of Canada and Export Development Canada.
The government is also making $105 million available over five years to reduce barriers that have traditionally made it harder for women to launch their own business. Those who do business with the federal government will also notice changes. The budget promises that 15 per cent of small- and medium-sized businesses that provide goods or services to the federal government will be women-owned, quickly growing their potential for additional revenue…..