12 hours ago
Province announces $2.8M to help entrepreneurs grow businesses as trade war causes uncertainty
Canadian businesses continue to negotiate the uncertainty of the trade war with the U.S. It's caused a slowing of the economy and it's impacting entrepreneurs.
The province has announced $2.8 million in funding toward the Calgary Economic Development's (CED) Trade Accelerator Program (TAP).
The initiative helps small to medium-sized businesses grow and reach international markets.
The funding will continue TAP for another five years, with the hope it helps up to 650 companies.
'The future of Alberta is bright. We have a premier and government that are laser-focused on removing red tape and expanding trade relationships within Canada and around the world,' said Joseph Schow, Minister of Jobs, Economy, Trade and Immigration.
The announcement came as Deloitte Canada released its latest outlook, saying the economy should be able to avoid 'worst-case' scenarios from the trade war.
That doesn't mean the Canadian economy gets off scot-free.
Deloitte predicts a modest recession to hit in the second and third quarters of the year as uncertainty and weakness caused by tariffs start to bite.
The province has announced $2.8 million in funding toward the Calgary Economic Development's Trade Accelerator Program.
The province has announced $2.8 million in funding toward the Calgary Economic Development's Trade Accelerator Program.
That uncertainty is worrisome for Calgary puzzle-maker and StumpCraft founder Jasen Robillard.
'We've been dealing with the chaos as a result of the tariffs,' said Robillard.
'We're a luxury product in a sense, and so when disposable income decreases or economic uncertainty manifests, people are more clingy with their hard-earned dollars.'
The Deloitte report suggests energy-producing provinces like Alberta will lead the economic growth expected next year.
With files from The Canadian Press
