The Saskatchewan Party announcement today addresses a number of initiatives referenced in the Saskatchewan Chamber of Commerce’s 2024 Fueling Momentum election platform.

Key recommendations in the Chamber’s platform focus on investing in small business, helping to boost small business growth, encouraging youth entrepreneurship, and attracting and growing business investment.

Today the Saskatchewan Party has announced that if re-elected to government, they will invest $285,000 in annual funding to support youth entrepreneurship, offering $5,000 grants to eligible young entrepreneurs to be used for eligible business expenses. The funds will be provided to the Saskatchewan Chamber of Commerce to distribute through its network of 57 local Chambers across the province. Recipients would be paired with mentors from their local business community to help guide them as they navigate the early stages of their entrepreneurial journey.

Additionally, the Saskatchewan Party announced that if re-elected, it will work with the Saskatoon and Saskatchewan Chambers of Commerce to pilot a new investment tax credit to help small and medium sized enterprises attract investment and grow their businesses.

This proposal for the project was developed by the Greater Saskatoon Chamber of Commerce and was endorsed by the Saskatchewan Chamber.  It was included in the Saskatchewan Chamber’s provincial election platform as one of its 26 recommendations. The proposal suggests a new SME (small and medium-sized enterprise) investment tax credit would provide a 50 per cent tax credit for individuals who invest in the equity of a Saskatchewan SME with 50 employees or fewer.

This proposal is similar to previous initiatives that have assisted Saskatchewan technology startups in raising private investment, while creating jobs.

We are pleased to see that the priorities of Saskatchewan businesses are being recognized in initiatives being proposed by the parties in this election campaign.  We are especially pleased to see that the Saskatchewan Party is looking to the Chambers of Commerce in Saskatchewan, and that if elected, will implement key initiatives proposed by Saskatchewan chambers to advance the interests of business and entrepreneurs across the province.

View the official Saskatchewan Party announcement here: https://www.saskparty.com/saskatchewan_party_will_make_small_business_tax_cut_permanent