Statement by the Prime Minister on Small Business Week

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

“Today we mark the beginning of small business weekan opportunity to recognize more than one million small and medium-sized businesses across Canada that are the backbone of our economy.

“Small businesses represent 98 per cent of all businesses in Canada. They are the lifeblood of our communities, playing an essential role in delivering the goods and services Canadians need, and supporting millions of good middle-class jobs from coast to coast. In recent years, in the face of unexpected challenges ranging from the pandemic to the impacts of climate change and global inflation, they have demonstrated incredible resilience and ingenuity, learning to innovate and adapt to continue to thrive. And the Government of Canada has been there to support them every step of the way.

“In today's rapidly evolving global business environment, we continue to listen to Canadian entrepreneurs and small business owners to ensure they receive the support they need. Earlier this year, we secured commitments from major credit card companies to reduce transaction fees for small businesses, helping eligible small businesses in Canada save $1 billion over five years. This is in addition to other measures we have taken to support hard-working business owners, including helping them access financing through the Canada Small Business Financing Programand extend the term for pandemic loans through the Canada Emergency Business Account, while making them more flexible. We will continue to be there for small business owners so they can continue to put their dreams into action and grow our local economies.

“To Canada's small business owners: thank you for your contributions and dedication to serving our communities. This week, I invite Canadians to shop local, whether it's grabbing a coffee at your favorite coffee shop, visiting a new boutique, or picking up the week's food at your local independent supermarket. When we support 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.”