19 May Liberal Plan Will Help Small and Medium Businesses Grow
A new Liberal government will create an Innovation Rebate Program to promote job growth by helping small and medium sized businesses to expand.
“Small business is the primary engine of our economy and job creation,” says Liberal Leader Stephen McNeil. “By helping entrepreneurs to expand, we will also help create more jobs for young Nova Scotians.”
We will reduce red-tape and taxes for small business, and we want to do more. The Liberal Party will invest $5 million annually to assist businesses to grow and stay here at home.
Under the terms of the new program, government will assist with capital investments. Much like buying a home, capital investments are difficult to move – which means the program will help established businesses remain rooted within their communities.
Eligible businesses will receive rebates of up to 15 per cent for capital investments between $3 million and $15 million.
This new program will have strong elements of accountability attached to its criteria – and all potential investments will be closely monitored. This accountability regime will be in stark contrast to previous administrations, which often provided blank cheques to large corporations.
“In addition to helping businesses grow, the new program will also have significant spinoffs employing skilled tradespeople in the construction phase,” McNeil said. “We want to encourage Nova Scotia’s entrepreneurs – and by helping them grow their businesses, we will increase job opportunities for everyone.”
In addition to the rebate program, a new Liberal government will also direct the NSLC and Department of Finance to adopt policies that encourage more growth in our local wine, distilling and craft beer industries. Policies will include marketing and promotion and better retail and distribution of local products. Responsible consumption will also be encouraged, and we will ensure the NSLC works to further develop local industries and create more jobs across the province.