Address To The Small Buisness Week Seminar

October 16, 2007

Thank you.

As the Member of Parliament for Leeds-Grenville I am delighted to be here this morning.

Small business is at the heart of Canada’s economy and our government is committed to addressing the needs and concerns of this sector.

That includes reducing the administrative and paper burden. 

We committed to concrete steps to do that in Finance Minister Flaherty’s long-term economic plan, Advantage Canada, specifically in the section to create an Entrepreneurial Advantage.

Business owners and their accountants spend a tremendous amount of time and incur significant costs, to understand and comply with government regulation. 

This time and money burden is a real barrier to business success and overall competitiveness.

It is not just businesses themselves saying that. Industry associations, experts and advisory panels have all affirmed that something must change.

Here is the action our government has taken so far to help small businesses reduce red tape:

• our long-term economic plan, Advantage Canada, made a specific and explicit commitment to reduce the federal paper burden by 20%
• Budget 2007 requires key regulating federal departments and agencies to count the requirements being placed on business. Examples are tax forms and export permits. This count is to be completed next month. The good news is that this work is on track. 
• the baseline number will be reduced 20% within the next year, by November 2008.
  

Also to lighten the time crunch for busy entrepreneurs, we have set up a brand-new program called BizPaL. 

BizPaL provides one-stop on-line access to information business wants to know about their dealings with government. 

The BizPaL portal can be found at bizpal.ca.

BizPaL involves all levels of government working together. 

It provides online information about permits, licences and regulations that entrepreneurs need in order to start, operate and grow their businesses.

In Budget 2006, our government provided $6 Million over two years to get BizPaL up and running as quickly as possible. 

BizPaL has now been launched in more than 50 cities and towns in six provinces and territories, with many more to come!

Budget 2007 also lightened the load on small business by changes making tax remittances and reports less frequent.  These changes will reduce filing requirements by about one-third.

For example, certain small Canadian-controlled private corporations can now pay their income tax quarterly instead of monthly. 

Another good change: now, corporations only have to remit tax once a year if they have $3,000 or less in tax payable.  Previously, instalments were required even if only $1000 was payable.

We are concerned about Canada’s economy and competitiveness.

Through several departments, from finance to small business, we are working hard to improve the economic climate and the regulatory framework for small business in Canada.

I could talk longer on Advantage Canada and BizPal but I would encourage you to spend some time learning about both these on the internet.

Thank you.