The Saskatoon Chamber applauds today’s Saskatchewan Party commitment to pilot its proposed SME Investment Tax Credit if re-elected.

“We applaud today’s commitment knowing that it will be a game-changer for owners who are ready to take their business to the next level,” says Jason Aebig, Saskatoon Chamber CEO. “Traditionally, small and medium size businesses leverage funds from friends and family to purchase capital and equipment, adopt new technology, improve production or grow their sales. With a tax credit to incentivize direct outside investment in their businesses, owners will have broader access to capital to improve their operations, create jobs and position themselves for additional investment as they grow.”

In 2022, the Chamber proposed the introduction of an SME Investment Tax Credit to help small and medium size businesses attract investment. The proposed credit would offer a 50 percent tax credit for individuals investing in the equity of a Saskatchewan SME with 50 or fewer employees.

British Columbia, Manitoba and New Brunswick have similar investment tax credits, although each has different eligibility criteriain terms of the amount of the credit, employee thresholds and qualifying sectors.

“Our small and medium size businesses are ready to deliver the jobs, products and services Saskatchewan needs to grow,” says Aebig. “We look forward to working with our members, other chambers and the provincial government to kickstart this initiative early in 2025.”