Trying to grow a small business can sometimes feel like trying to renovate your house while still living in it.
You can see the potential, you know what needs to be built, and you understand the long-term value — but finding the extra money and breathing room to make it happen while managing everyday pressures is often the hardest part.
As a longtime entrepreneur- I know firsthand how difficult access to capital can be. Often, your assets are already tied up in the business. You are constantly reinvesting, balancing cash flow, trying to grow responsibly, create jobs, modernize operations, and still manage the day-to-day realities of running a company.
Most businesses do not need a handout — they simply need breathing room to invest and grow.
Programs like the Small Business Investor Tax Credit can help create that room.
A practical example could be a small Saint John manufacturing steel company that has an opportunity to grow, take on larger contracts, or expand outside Atlantic Canada, but needs to purchase new equipment or technology to do it. Instead of taking on all of that pressure through debt alone, this program can encourage local investors to support that growth by offering tax incentives for investing in New Brunswick businesses. That can make it easier for businesses to access capital, modernize operations, hire more people, and compete more effectively outside our province.
These proposed changes are especially important for sectors that are critical to New Brunswick’s economy and future growth, including manufacturing, IT, engineering, agriculture, forestry, aquaculture, digital media, and the arts.
The more we can connect businesses with opportunities like this, the stronger our entrepreneurial ecosystem becomes. We look forward to continuing to work with government and our members to help share these opportunities and ensure businesses across our region understand the supports available to them.
I also wanted to take a moment to thank Hon. Luke Randall Opportunities New Brunswick and the Government of New Brunswick / Gouvernement du Nouveau-Brunswick for the proposed updates to the Small Business Investor Tax Credit Program announced this week.
During a conversation we had last week, Minister Randall highlighted something that really stuck with me — many businesses across New Brunswick simply are not aware that programs like this exist or fully understand how they can benefit from them. That is an important conversation, and one I believe deserves more attention.
At the Saint John Region Chamber of Commerce – we see part of our role as helping share this kind of information with our business community so entrepreneurs and business owners better understand what tools and supports are available to help them grow.
