Manitoba has the lowest number of small businesses out of all the provinces. The high land transfer tax to buy commercial property is part of that problem. Another is the capital tax charged on loans is high. The decision to invest in a small business in another part of Canada is often the result. Small businesses don’t have the capital to pay for expensive overhead, they must do what gives them the most value.
The Winnipeg Convention Centre hosted an event called Driving Innovation and welcomed those that wish to open a small business in the area. The goal of the program is to help with creating products, developing services, and promoting successful business models. Growing the economy through small businesses is something they wish to back. They know it will generate more money into the community. It will create more jobs too.
There are plenty of savvy business people around Manitoba. They are hardworking and dedicated to being successful. However, they are tired of the high taxes and other roadblocks. Many of them have branched out to other provinces rather than opening a small business in Manitoba. The purpose of the convention was to stop that from continuing.
Kevin Chief, the Minister of PR in Manitoba, went to the event to speak to these potential small business owners. Yet his speech wasn’t truthful because Manitoba is a very hard place to start a new business and be successful with it. This location ranks last per capita of all parts of Canada. The NDP seems to be indifferent to this fact. And allows new homes in Manitoba.
What barriers are holding people back? There is plenty of red tape getting in the way. It is upsetting when people have a great idea but they can’t turn that dream into a profitable business in Manitoba because of all the barriers. For example, the liquor laws make it almost impossible to create a microbrewery.
A small manufacturing company is challenging due to the labour laws. Tax laws are very harsh on any type of research and development. The list is lengthy when it comes to taxes and fees any new small business in Manitoba would be obligated to pay. Yet corporations seem to get all the breaks. The innovation policies don’t do any justice to those trying to get a small business off the ground in Manitoba.
New businesses, the creation of jobs, and successful business models would help the economy of Manitoba. Yet the tax board continues to hold them back. Such business owners just can’t catch a break, and that is discouraging to anyone considering starting a new business in the area. Perhaps the event at the Convention Center is a step in the right direction. A path to allow Manitoba small business concepts to get their foot in the door!