The federal government is delivering for small businesses, helping them start up, scale up and expand into new markets. It is taking action to support entrepreneurs and create good jobs in every region of the country, such as cutting taxes, removing trade barriers and introducing new measures that protect Canadian firms from U.S. tariffs.
Today, the Honourable Rechie Valdez, Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism), highlighted a new $100 million initiative between the Business Development Bank of Canada (BDC) and Community Futures and Community Business Development Corporations (CBDC) that will provide vital resources to the 520,000 entrepreneurs and small businesses in rural and remote areas of the country so they can thrive. BDC is a Crown corporation under the federal government with a mandate to support entrepreneurs.
This initiative builds on the government's recent tariff supports to help small businesses weather U.S. trade disruptions and stay competitive: the $5 billion Strategic Response Fund to help firms adapt and grow; expanded BDC loans of up to $5 million to stabilize cash flow; and the $1 billion Regional Tariff Response Initiative that includes flexible, non-repayable contributions for eligible small and medium-sized enterprises. Together, these measures are giving entrepreneurs across Nova Scotia the tools to keep workers on payroll, adapt their operations and scale with confidence.
Since launching its Community Banking initiative in November 2024, BDC has teamed up with financial institutions and community lending partners that support underserved groups. By joining this network of trusted partners, Community Futures should be able to reach even more business owners in rural and remote areas. It's about meeting entrepreneurs where they are and helping them grow.
The announcement of BDC's new $100 million initiative comes just before Small Business Week (October 19-25), a national celebration of Canadian entrepreneurship.
