The Prime Minister, Justin Trudeau, today issued the following statement on Small Business Week, which runs from October 15 to 21, 2023:

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

“Small businesses account for 98 per cent of all businesses in Canada. They are the lifeblood of our communities, play an essential role in delivering the goods and services Canadians need, and support millions of good middle-class jobs from coast to 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 shown 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 lower transaction fees for small businesses, helping eligible small businesses in Canada save an expected $1 billion over five years. This builds on other measures we have taken to support hardworking business owners, including by helping them access financing through the Canada Small Business Financing Program, and extending the deadline on 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 keep putting their dreams into action and grow our local economies.

“To Canada’s small business owners: thank you for your contributions and your dedication to serving our communities. This week, I invite Canadians to shop local – whether by grabbing a coffee from your favourite coffee shop, stopping by a new boutique, or getting your food for the week at your local independent grocery store. When we support the small businesses in our communities, we contribute to a stronger Canadian economy for the middle class and people working hard to join it.”