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Entrepreneurship & Small Business Policy in Canada

Entrepreneurship & Small Business Policy in Canada. Presentation to OECD Entrepreneurship Indicators Workshop October 27, 2005. Small Business Policy Branch Industry Canada. Contents of Presentation. Add title of section 1 Add title of section 2 Add title of section 3

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Entrepreneurship & Small Business Policy in Canada

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  1. Entrepreneurship & Small Business Policy in Canada Presentation to OECD Entrepreneurship Indicators Workshop October 27, 2005 Small Business Policy Branch Industry Canada

  2. Contents of Presentation • Add title of section 1 • Add title of section 2 • Add title of section 3 • Add title of section 4 • Add title of section 5 • Add title of section 6 • Context • Entrepreneurship Policy in Canada • Canada’s Small Business Policy Agenda • Indicators of Entrepreneurship and Small Business in Canada

  3. Entrepreneurship Policy in Canada: Context • Canada had a National Entrepreneurship Policy 1989-1993 • Goal was to encourage an entrepreneurship culture • Promote entrepreneurship as an option • Income support, e.g. Self-employment Assistance Program • Community development e.g. Community Futures for rural regions to encourage self-sufficiency • Comprehensive review of small business policy in 1994developed by departments of Industry and Finance shifted emphasis • Entrepreneurship policy funded federally but developed and delivered at regional and local level • Small business policy revamped at national level, with emphasis on encouraging growth of small businesses

  4. Current Entrepreneurship Policy • Diverse pattern across Canada regarding information, delivery and development • National information system for potential and actual entrepreneurs (Business Canada) via entrepreneurship centres also provide path-finding • Programs administered by four (federally funded) regional agencies (Atlantic, Western, North Ontario, Quebec) • Delivery vehicles for programs are typically Community Futures Development Corporations • Community development is an important objective for encouraging entrepreneurship • While funded federally, program content and delivery thus reflect local diversity

  5. Entrepreneurship Policy: Activities • Activities include • Business planning and start-up • Technical assistance; • Financial assistance; repayable loans, loan loss guarantees • Improving telecommunications infrastructure in remote areas • Target groups: • Aboriginal entrepreneurs • Women entrepreneurs • Young entrepreneurs • Rural businesses; community development • Francophone entrepreneurs

  6. Canada’s Small Business Policy Agenda (Federal) • Based on two underlying principles • Non-intervention – let markets function freely; fill market gaps • Subsidies program and grants have been largely eliminated • Use business-like principles of management e.g. partnering, tracking program effectiveness; client-oriented services • Shift towards cost-recovery and repayable contributions • Focus is now on creating the right environment for business start-up and firm growth. • Provision of strategic information • Framework policies that protect the public interest while fostering innovation and competitiveness, fiscal situation; taxation measures for small business; government regulations

  7. Small Business Policy: Current Priorities • Supporting Innovation • Improve investment & adoption of advanced technologies by small businesses; support networks for commercialization • Bridging Financing Gaps • Improve access to debt financing by start-ups, young entrepreneurs, knowledge-based firms and aboriginal entrepreneurs • Easing Regulatory Burden • Public-private sector advisory committee tasked with making measurable reductions in regulatory burden (Paperwork Burden Reduction Initiative) • Expansion into International Markets • Reduce financial risks of exporting; improved information on exporting opportunities, through export development & trade commissioners • Investing in Skills • Addressing management skills via Mentoring and training programs delivered through the regional development agencies (RDAs); youth mentoring (CYBF)

  8. Developing Small Business & Entrepreneurship Indicators in Canada • Current data available • General surveys number of firms, entry/exit; employment, self-employment, remuneration • New specialized surveys • Financing Data Initiative; • Survey of Regulatory Compliance Costs • Long term research projects • Growth firms (universe of firms) characteristics • Innovation in services, manufacturing • Exporting activities • Links between exports, innovation, finance and growth • Further information on Website http://strategis.ic.gc.ca/sbresearch

  9. Developing Small Business & Entrepreneurship Indicators • Potential other entrepreneurship indicators • Local and regional bodies can provide the following • Number of clients; • Nascent or aspiring entrepreneurs; • Stage of business • Medium of inquiry; • Financial assistance; • Program utilization; • Business planning • Has the potential to provide finer information on entrepreneurship • To what extent are these measures relevant to this project?

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