Canadian Government Announces Support Measures for Small and Medium-Sized Businesses

The federal government has introduced several measures to support small and medium-sized businesses. These include the Canada Carbon Rebate for Small Businesses, which will provide over $2.5 billion to approximately 600,000 businesses, with specific amounts varying by province and number of employees. Additionally, a revised Code of Conduct for the Payment Card Industry will be implemented to protect businesses accepting card payments, improving price comparison and complaint handling. Lastly, reduced credit card transaction fees will take effect in October 2024, potentially saving eligible small businesses about $1 billion over five years.

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2024-10-09 18:06:28