It can be easy for us to characterize government as an entity that scrapes away your business profits through taxation. The actual relationship between businesses and governmental bodies is much more symbiotic.
While governments collect taxes, they also have a responsibility to ensure the health and security of businesses of all sizes. Without thriving business and industry, a country can quickly descend into economic stagnation or recession.
That is why governments try to offer support and have assistive policy frameworks for businesses. Initiatives such as the Canada Small Business Financing Program or tax incentives such as the Ontario Interactive Digital Media Tax Credit exist to provide such support.
But there are certainly gaps in support that sometimes slip through the cracks. According to a report from the Government of Canada, in December 2021 there were about 1.21 million employer businesses in Canada. With such a large and dynamic variety of businesses in this country, it is no wonder how governments can overlook some types of companies when considering funding and support programs.
Business-government relations play a critical role in favourably positioning your business in 2024. With an active government-relations strategy, you will benefit from unique insights and have the best chance to access all available support. As Canada fully exits a post-pandemic economy, our country is experiencing many changes, most of which are not immediately apparent.
If you want to build your government-relations strategy or are trying to refine existing efforts, contact the Daisy Consulting Group for a free consultation to explore your options.