Empowering Entrepreneurship and Fueling Local Business Growth in Nova Scotia
[Halifax, Nova Scotia – January 31, 2025] – The Government of Nova Scotia today announced a comprehensive suite of initiatives to empower entrepreneurship and stimulate local business growth throughout the province.
Key Components of the Plan
The plan includes several key components aimed at supporting businesses at every stage of their development:
- Startup Investment Fund: A $100 million fund to provide seed funding and mentorship support to promising early-stage startups.
- Business Accelerator Program: A network of business accelerators to offer tailored support, resources, and mentorship for growing businesses.
- Tax Incentives: Targeted tax incentives to encourage investment and innovation in key industries.
- Access to Capital Program: A dedicated program to provide loans and equity investments to businesses with high growth potential.
- Skills Development: Investments in training and education programs to develop the skills required in today’s competitive economy.
Government Commitment
Premier Tim Houston emphasized the government’s commitment to creating a supportive environment for entrepreneurs and businesses.
“Small businesses are the backbone of our economy,” said Premier Houston. “By investing in entrepreneurship, we are investing in the future of Nova Scotia.”
Industry and Community Support
The plan has received widespread support from the business community and industry leaders.
“This is a game-changer for our startup ecosystem,” said Sarah Young, CEO of the Halifax Partnership. “The Startup Investment Fund will provide much-needed support to our innovative entrepreneurs.”
Economic Impact
The government estimates that the plan will have a significant economic impact, creating thousands of new jobs and boosting GDP by billions of dollars over the next five years.
Next Steps
The government will work closely with businesses, industry associations, and educational institutions to implement the plan and track its progress. Regular reports will be provided to the public to ensure transparency and accountability.
Conclusion
The Government of Nova Scotia’s plan to empower entrepreneurship and fuel local business growth is a bold and ambitious initiative that aims to create a thriving and prosperous economy for all Nova Scotians. By providing funding, support, and tax incentives, the government is creating the right conditions for businesses to succeed and grow.
Empowering entrepreneurship and fueling local business growth in Nova Scotia
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