Latest news with #TradeAcceleratorProgram
CTV News
11 hours ago
- Business
- CTV News
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
Calgary Herald
16 hours ago
- Business
- Calgary Herald
Alberta commits $2.8 million to small- and medium-sized businesses
A $2.8-million investment in the Trade Accelerator Program aims to help Alberta-made companies and businesses expand their reach to markets around the world. Article content In an announcement on Wednesday, the Minister of Jobs, Economy, Trade, and Immigration Joseph Schow announced the province's commitment to help Alberta's small- and medium-sized businesses and companies expand their reach into international markets. Article content Article content Article content TAP was established nationally in 2017, with Calgary Economic Development administering the program within Alberta in 2018. Article content Article content Over the last seven years, 550 Alberta-based businesses were provided with knowledge, mentorship and resources to help their ventures grow and reach international markets. Article content 'This means bigger revenues, and more jobs for Albertans across the province,' Schow said. 'And of course, we get to showcase Alberta's economic success to the rest of the world.' Article content Schow said the province values small businesses and wants to see them succeed beyond Alberta's borders. Article content 'Our government is fulfilling a gap to fund the Trade Accelerator Program by providing Calgary Economic Development with $2.8 million,' he said. Article content The investment will continue to support TAP for the next five years. Over this period, the program is expected to assist 650 more companies, while expanding services and resources for businesses looking to grow. Article content Article content 'Increasing trade is a priority for our government, which is why we are helping small- and medium-sized businesses grow,' Schow said. 'More than ever, we need to diversify our global trade and give businesses the tools they need to succeed.' Article content In return, Schow said Alberta will see more jobs, investments, and a stronger economy through programs like TAP. Article content 'Those are businesses that supply families with good, mortgage-paying, grocery-buying, sport fee-paying jobs,' Schow said. 'Those are supporting families right here in Calgary, right here in Alberta.' Article content By doing their part to empower small businesses, Schow said the province sees great things happening from their success. Article content President and CEO of Calgary Economic Development, Brad Parry, said this is an important step forward in helping local Alberta and Calgary businesses grow, scale and compete on a national and global scale.
