Small business reaction to the federal budget

BlackSquare plans to hire several new employees in the coming months, and Mr. Protti applauded the creation of a $400-million fund to help increase private sector investment of early-stage companies. “I’m curious to see how the program will be managed, but I’m cautiously optimistic that it will help enable start-up companies such as ourselves gain access to capital, which is in much shorter supply in Canada versus the United States. That access to capital is the single biggest issue around our ability to hire.”

Mr. Protti said the $100-million for the Business Development Bank of Canada to support venture capital activities is also welcome. “But it is unclear what the increased money will go toward. Is it a continuation of the current mandate? Or is the government looking for the BDC to reach out to companies which, for whatever reason, hadn’t been supported in the past?”

Read the full article at the Globe and Mail.