1. Access to funding: Small businesses in Canada can access funding through government programs, grants, and loans designed specifically for small businesses. This allows them to invest in their operations, expand their services, and grow their business. Source: Government of Canada – Starting a business – Canada.ca
2. Favorable tax treatment: Small businesses in Canada benefit from various tax incentives like the small business deduction, which allows them to reduce their federal corporate income tax rate on the first $500,000 of their income. Source: Canada Revenue Agency – Corporation tax rates – Canada.ca
3. Supportive business environment: Canada is known for its business-friendly environment, supportive government policies, and transparent regulatory framework. This makes it easier for small businesses to navigate the regulatory landscape and focus on their operations. Source: Canadian Federation of Independent Business – Advocacy (cfib-fcei.ca)
4. Skilled workforce: Canada is home to a highly skilled, educated, and diverse workforce. Small businesses can tap into this talent pool and benefit from their expertise, knowledge, and experience. Source: Conference Board of Canada – (conferenceboard.ca)
5. Access to global markets: With free trade agreements and a strategic location, Canada offers small businesses access to global markets. Through these agreements, small businesses can export their products and services to new markets and expand their customer base. Source: Government of Canada – Trade Commissioner Service – Splash page | Service des délégués commerciaux – Page de garde