What the budget gets right about entrepreneurship

Entrepreneurship

For years I have chosen to wake up to the shrill, unforgiving alarm on my BlackBerry — so much easier to program than the digital clock radio it supplanted. Tomorrow, I might shave with a custom-fit blade from Toronto-based Rockwell Razor, a passion-fuelled project of two Western University students whose throwback design obscures the company’s recent origin involving crowdfunding and 3D-printed prototypes.

To start the day, I might have a bowl full of Holy Crap, the Gibsons, B.C., concoction that immodestly calls itself “The World’s Most Amazing Breakfast Cereal.” Or I might head to a meeting at Cora’s – that endearing juggernaut of a breakfast chain, now 134 units strong, founded by determined single mom Cora Tsouflidou from Gaspé, Que.

Cora’s website might have been created by Holy Crap’s copywriter. “Since opening her first restaurant,” it claims, “Cora has changed the eating habits of an entire generation.” I think they mean she saved us from the clutches of the Egg McMuffin.

And this of course is why all Canadians should give a damn about entrepreneurship. Through the passions and ambitions of entrepreneurs, society experiences its most positive changes. Entrepreneurs promote innovation, experimentation, diversity, and the promise of better opportunities to come.

By coincidence, “opportunity” was also the mantra of last week’s good-news, pre-election budget. “The federal budget is, on the face of it, about dollars and cents,” said Finance Minister Joe Oliver. “But on a more fundamental level it is a path to opportunity, and it is in this spirit that I present it today.”

But does the federal government have a clue about opportunity? The 2015 budget chases opportunities by tinkering in the margins. The small business tax rate on the first $500,000 of income will fall from 11% to 9% by 2019. A million businesses will share a benefit amounting to just $1.2 billion a year. The Canadian Federation of Independent Business lobbied heavily for this break, but I rarely hear companies complaining about income tax rates…Continue Reading

Source: Business.financialpost.com Retrieved from (http://business.financialpost.com/entrepreneur/what-the-budget-gets-right-about-entrepreneurship-and-why-all-canadians-should-give-a-damn)

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