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19 October 2020
FREDERICTON (GNB) – The following message was issued today by Arlene Dunn, minister responsible for Economic Development and Small Business and the minister responsible for Opportunities NB, in recognition of Small Business Week, taking place Oct. 19-24:
Small Business Week provides New Brunswickers an opportunity to pause and reflect upon the significant contribution entrepreneurs make every day in our province.
Small businesses have a big impact. There are more than 26,000 small businesses operating in our province, employing more than 200,000 people. This accounts for almost 60 per cent of employment and includes a growing number of companies that are operated by newcomers to Canada, those that are operated by indigenous New Brunswickers and by entrepreneurs with disabilities.
As the new minister responsible for Economic Development and Small Business and for Opportunities NB, I look forward to meeting and working with the dynamic entrepreneurs who continue to move our province forward.
I know the COVID-19 pandemic has been devastating to many small businesses and I want to reassure you that our government is prepared to work with you as we confront the challenges posed by the pandemic.
Our government is listening and we are providing New Brunswick’s entrepreneurs the tools they need to accomplish their dreams and help keep our economy growing.
We will continue to support entrepreneurs and small businesses as they help our economy grow. As a government, it is our job to create conditions that allow businesses to thrive and succeed. We have reduced the small business tax to allow businesses to invest more in their own operations. Our small business tax rate is 2.5 per cent, tied with Nova Scotia for the lowest rate east of Manitoba. Additionally, our government remains committed to reducing red tape for businesses, by $14 million by March 31, 2021. This reduction will allow business owners to spend less time focusing on regulations and spend more time running their businesses and growing New Brunswick’s economy.
In addition to this, Opportunities NB is working with businesses across the province to develop new high-growth opportunities. They have business development executives in five regional and seven satellite offices and they are an excellent first point of contact for entrepreneurs and business owners.
Opportunities NB has assisted hundreds of companies to develop growth plans, make connections to export opportunities, make links to a network of like-minded entrepreneurs and gain access to funding.
Our government remains focused on business growth and on supporting families. Supporting small business is essential to achieving these goals. I thank each small business owner in the province for what they contribute to the community and to the economy.
Dave MacLean, communications, Economic Development and Small Business, [email protected]