Department of Finance Canada said Budget 2024 included measures aimed at young entrepreneurs, small businesses, research, and start-up financing.
The budget proposed the Canada Carbon Rebate for Small Businesses, a refundable tax credit intended to return fuel-charge proceeds from 2019-20 through 2023-24 to an estimated 600,000 eligible businesses with 499 or fewer employees.
Budget 2024 also included $200 million over two years, starting in 2026-27, for the Venture Capital Catalyst Initiative to increase access to venture capital for equity-deserving entrepreneurs and underserved communities.
For entrepreneurs and small businesses, tax credits, rebates, grants, and venture-capital programs can affect start-up funding and early-stage business costs.