A month after B.C. celebrated Small Business Week, Minister Mary Ng — who was appointed Minister of Small Business and Export Promotion in July — visited Vernon Chamber of Commerce Saturday morning to discuss new trade agreements, listen to local business owners and entrepreneurs and to encourage them to “take advantage of exporting.”
At 9 a.m. Saturday, about 35 small and medium business owners in the community joined the minister in conversation.
“I talked to them about the trade agreements that our country has negotiated and we talked about the opportunities of global expansion and how in Canada, 99 per cent of our companies are small and medium-sized enterprises but only 12 per cent export and what an opportunity there is to actually grow that and, through the leadership of our Prime Minister Justin Trudeau, we’ve committed to growing our exports by 30 per cent by 2025.”
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Ng said that the reason global expansion is important is customers.
“A billion and a half of consumers and customers that are available to our Canadian entities and they grow, it is going to create good, middle-class jobs right here in Canada — and in Vernon.”
The small business tax rate was reduced to 10 per cent in January and is set to drop again to nine per cent beginning in 2019. This proposal came last year amid backlash of the proposed tax reforms by the Liberal government.
“This tax cut will support Canada’s small businesses so that they can keep more of their hard-earned money, money that they can invest back into their businesses, their employees and their communities,” Trudeau told a news conference in Stouffville, Ont in 2017.
“Small business is a major economic driver by not only employing thousands of people, but by serving as a catalyst for entrepreneurs to expand beyond the grassroots and grow. It was encouraging to hear that the minister shares the chamber’s vision about supporting small business.”
Vernon is just one of many meetings with various businesses and entrepreneurs across Canada.
“As the minister who is focusing on export promotion, I want to meet as many small businesses that I can and make sure they know that we have these trade agreements and these customers so let me help you get export ready so that you can grow your business by exporting.”
Ng said that since becoming minister in July, she has already met with about 1,500 businesses.
“I will keep meeting with businesses so that we can keep promoting the fact that they can grow by going global. What has been really great is that people really do appreciate it — both the services and the initiative that Canada has for them to help them grow their business and help them access new markets.”
She also said it was important to stop in Vernon, especially since being awarded B.C.’s Small Business Roundtable’s 2014 Open for Business Awards.
“There was dynamic energy in the room and I can see why businesses here have been recognized. There were also great women entrepreneurs there so we were able to talk about our government’s first ever women’s entrepreneurship strategy and that will help double to amount of women entrepreneurs by 2025 because studies like the Mackenzie Institute institute tells us that if we do that, by 2026 we will have the potential to increase and adding 150 billion dollars of incremental GDP to the Canadian economy, which is good for the economy for job growth and adding women into the economic economy is also the right thing to do.”
Among the issues raised by members of the chamber and residents were succession planning for small business operators, provincial trade barriers, the need for more women entrepreneurs, the role of technology and community infrastructure that encourages business.
“We appreciate the minister taking time to stop in Vernon and hear first-hand about the opportunities and challenges small business owners experience,” said Dione Chambers, Greater Vernon Chamber of Commerce general manager.
The round-table ended around 10 a.m. and Minister Ng made her way to Kelowna for her next meeting.
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