Taxes: Small Businesses Foundation of a Strong Community

Filed in archive Taxes on November 21, 2006

Here is a interesting view of the value of a small business:

"An essential part of strong communities is a strong small-business sector. They generate new products and services. They create jobs. They generously give back to local community and charitable causes. They actively contribute to the culture, energy and spirit of their neighborhoods." Via Canada.com

The key to attracting small businesses is to be a tax-friendly city. Unfortunately, the city where I live is not tax friendly:

"Most major Canadian cities have already eliminated the business tax, leaving Edmonton as one of only five Canadian cities to still have such a tax -- and two of these cities, halifax and Winnipeg, have recently made plans to eliminate theirs. In fact, Edmonton is the only city in the greater Capital region to still charge a business tax in addition to a higher business property tax." Via Canada.com

When governments of any level reduce or eliminate business taxes the money saved typically gets reinvested in the business by hiring new employees, creating new products and services, and new equipment.

Less tax means more business activity.