Small businesses are the backbone of our economy.
To support small businesses, Budget 2021 will:
• Extend the Canada Emergency Wage Subsidy to keep workers on the payroll;
• Introduce the new Canada Recovery Hiring Program for businesses to hire back staff, hire on new staff, and recover faster;
• Launch the Canada Digital Adoption Program to help small businesses go digital, adopt technology, and stay competitive;
• Improve the Canada Small Business Financing Program to increase maximum loan amount and expand eligibility;
• Take decisive action to lower the cost of doing business by reducing credit card transaction fees;
• Remove barriers to trade between provinces and territories to build a more prosperous economy;
• Support the success of entrepreneurs facing systemic barriers including women, Indigenous, and racialized entrepreneurs
• Invest in the regional development agencies to ensure we create jobs and growth in every part of the country.
Since the onset of the pandemic, your federal government has helped more than 5.3 million Canadians keep their jobs and more than 162,000 organizations pay their rent thanks to programs like the Wage Subsidy, the Rent Subsidy, and Lockdown Support.
The Canada Emergency Business Account has helped over 866,000 businesses pay their bills. And your federal government will continue to do whatever it takes, for as long as it takes, to support businesses and workers through this crisis, and build back a better Canada for everyone.
