Prime Minister’s Statement on Small Business Week

Prime Minister Justin Trudeau made the following statement today on Small Business Week, October 15-21, 2023:

“Today we mark the beginning of Small Business Weekan opportunity to recognize the more than one million small and medium-sized businesses across Canada that form the backbone of our economy.

“Small businesses make up 98 per cent of all businesses in Canada. They are the lifeblood of our communities, play an essential role in providing the goods and services Canadians need, and support millions of good, middle-class jobs from coast to coast. Over the past few years, they have demonstrated incredible resilience and ingenuity in the face of unexpected challenges ranging from the pandemic to the impacts of climate change and global inflation, learning to innovate and adapt to continue to thrive. And the Canadian government was there to support them every step of the way.

“In today’s rapidly evolving global business world, we continue to listen to Canadian entrepreneurs and small business owners to ensure they receive the support they need. Earlier this year, we received commitments from major credit card companies to reduce small business transaction fees, helping eligible small businesses in Canada save an estimated $1 billion over five years. This builds on other actions we have taken to support hard-working business owners, including by enabling them to access financing through the Canada Small Business Financing Programand extending the deadline for pandemic loans Canada Emergency Business Account, and at the same time make them more flexible. We will continue to be here for small business owners so they can continue to turn their dreams into reality and grow our local economy.

“To Canada’s small business owners: Thank you for your contributions and commitment to serving our communities. This week I’m inviting Canadians to shop local – whether that’s grabbing a coffee at your favorite coffee shop, checking out a new boutique or picking up your groceries for the week at your local grocery store. When we support the small businesses in our communities, we contribute to a stronger Canadian economy for the middle class and the people who work hard to join it.”