Market Overview

Statement by Minister Ng to celebrate the hard work of Canadian entrepreneurs during Global Entrepreneurship Week

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OTTAWA, ON, Nov. 16, 2020 /CNW/ - The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, made the following statement for Global Entrepreneurship Week:

"From the smiling faces at your favourite café, to the mechanic running the auto repair shop on the other side of town, to the innovator with a passion for the environment who runs a local clean tech company – entrepreneurs make our communities more vibrant and welcoming places to call home.

"Today, we mark the beginning of Global Entrepreneurship Week, an occasion to celebrate the hard work, innovative spirit, and resilience of entrepreneurs in every corner of the country.

"During this period of economic uncertainty brought on by the COVID-19 pandemic, their contributions are more important than ever. Entrepreneurs employ millions of Canadians across the country and are key to a strong economic recovery. Their success is crucial to the success of our country as a whole.

"That's why, from the beginning of the pandemic, our government decided to listen to entrepreneurs and respond to their urgent needs. 

"The Canada Emergency Wage Subsidy has helped businesses keep over 3.8 million hard-working Canadians on the payroll. Over 780,000 business owners have taken advantage of the Canada Emergency Business Account to keep up with their fixed costs and operating expenses. We helped 3.2 million entrepreneurs keep more money in their pockets by deferring GST, HST and customs duty payments. Thousands of entrepreneurs, local businesses and workers have benefitted from the Regional Relief and Recovery Fund. The Canada Emergency Commercial Rent Assistance provided rent relief to over 130,000 business owners, and the recently announced Canada Emergency Rent Subsidy will provide direct rent and mortgage support for even more small business owners who need it most.

"We are also working hard to position them for future growth and success by giving them the tools they need to scale up, access new markets, and benefit from international trade opportunities.

"The revamped CanExport program is providing up to $75,000 to help entrepreneurs expand their e-commerce presence, attend virtual trade shows, and navigate new COVID-19 related trade barriers. Our first-ever virtual trade mission to South Korea earlier this month helped over 200 Canadian entrepreneurs explore new opportunities and partnerships.

"As well, we know that diversity of thought and talent drives innovation, strengthens our economy and creates good jobs for Canadians. We are investing over $300 million to support Indigenous entrepreneurs, our Women Entrepreneurship Strategy is helping women-owned businesses start up and scale up, and our new Black Entrepreneurship Program will help thousands of Black entrepreneurs succeed and thrive now and into the future. 

"No one can predict what the coming months and years will look like, but amid this uncertainty, our government will continue to be there for Canadian businesses and entrepreneurs to help them adapt, rebuild and grow their business—both here at home and on the international stage.

"To Canada's entrepreneurs: thank you for everything that you do to contribute to our communities. I encourage all Canadians to join me in supporting local entrepreneurs and businesses during Global Entrepreneurship Week—and every week."

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SOURCE Innovation, Science and Economic Development Canada

Cision View original content: http://www.newswire.ca/en/releases/archive/November2020/16/c9655.html

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