Every year our Government recognizes the third week of October as Small Business Week.  Small businesses play a vital role in our society and are a major contributor to long-term prosperity.  It is important that we remind ourselves of the contribution small and medium-sized businesses continue to make as we emerge from the global economic downturn.

Small and medium-sized businesses form the backbone of the Canadian economy. Over half of all Canadian businesses are small businesses. It is often said that these businesses are the “first to hire and the last to fire.”  It is no wonder, then, that they employ over half of all working Canadians.  Small business owners are willing to take risks, are loyal to those who work for them, and make important contributions in communities across Canada.

Our interactions with small business owners form a significant part of our daily lives.  From the corner convenience store to the town barbershop; from the auto garage to the gourmet restaurant; from the child daycare to the retirement residence, their impact on our community cannot be understated.  They hire locally and pay municipal taxes.  They provide many of us with our first job opportunity.  They sponsor youth league sports teams and volunteer their services to local fundraisers.  Small business owners are champions of their communities.

Since we were first elected, our government has taken many steps to help ensure the success of small businesses.  We lowered the small business income tax rate to 11 percent and raised the threshold for small business income from $400,000 to $500,000. We introduced a 100 percent capital cost allowance for computer equipment purchased by small businesses.  We have reduced time consuming and job killing government red-tape by 20 percent. These initiatives have allowed entrepreneurs to focus more of their energy and resources on growing their businesses instead of wasting it on inefficient and unnecessary government regulations.

The economy remains the number one priority for Canada’s Conservative Government.  While there have been some positive signs, the recovery remains fragile.  Our Government knows that Canada’s long-term prosperity is driven by the creativity, ingenuity, and common-sense of entrepreneurs, small business owners and hard-working families across the country.

As the Member of Parliament for Lambton—Kent—Middlesex, I would like to congratulate all of our small businesses for their ongoing hard work and wish them success in the future.