Small businesses are getting an injection to give them the help to continue to grow. Ontario is giving small business owners added tools to help them with such things as hiring and training employees. The initiative, called Small Business Access, will have all these tools in one location to make it less complicated to access. In essence, it's a one-stop shop for entrepreneurs.
The provincial government will be pouring almost $4 million into the initiative over three years. To be considered small, a business in Ontario has to employ 100 or fewer workers. About one-third of the province's workforce is employed by small business.
In fact, Ontario has earmarked more than $500 million for small business plans and will lower the tax rate to 3.5 per cent from 4.5. The Ontario Chamber of Commerce is also involved with Small Business Access as a provincial partner. It will be involved in several workshops for small business owners to garner support and gather information in person.
Small business is a large part of Ontario's economy. Small business owners have to be aware of many issues that pertain to business and commercial endeavours. Not only do entrepreneurs have to be cognizant of the day-to-day operations of their businesses, but of the laws that govern them. Getting legal help when it comes to making decisions concerning the legal aspects of business may be one of the wisest investments a business owner can make. A lawyer may be able to provide a business owner with advice to help in any legal decision-making.
Source: ontario.ca, "Newsroom : Ontario Launching New Services to Help Small Businesses Grow", Feb. 12, 2018