6 Actions the Government of Alberta can take to help turn around the economy

A healthy and vibrant business community is essential to renewing the Alberta Advantage and strengthening the long-term economic prospects of our province.

The Government of Alberta has an opportunity with the 2016-17 budget to set a clear vision for Alberta’s economic future, and ensure that our province is seen to be one of the best places in which to do business.

The Calgary Chamber has put together its ideas on what needs to be done to turn this economy around and is working with government to make them a reality:

1.    A return to fiscal discipline
2.    Embracing performance-based budgeting
3.    Revising Alberta’s revenue model
4.    Jumpstarting small business investment
5.    Supporting innovation and entrepreneurship
6.    Equitably funding post-secondary education

Learn more about three of these ideas below or read the whole document here (PDF).

Jumpstarting small business investment

The inaccessibility of early-stage capital investment is a major impediment to the growth and sustainability of Alberta’s small businesses.

Often lacking the resources and administrative capacity to raise capital via debt financing, these businesses rely heavily on equity investments made by angel investors and venture capital firms. Despite this need, Alberta is currently one of the only provinces in Canada without an income tax credit for those who invest in local small businesses.  

We need the Alberta Growth Incentive encourage private sector agents to purchase equity in local—capital starved—enterprises. Without policies that foster small business growth, the province’s productivity, level of innovation, and overall competitiveness stand to suffer.