Federal Budget 2014: Analysis: What does it mean for business?

a see through piggy bank with money coins This week, the federal government released the 2014 federal budget, and businesses across the country are wondering how it will impact them.
I’ve never been a big follower of the budget in the past, until I became a business owner.  Now, I’m on several subscription feeds to give me an analysis of what the budget will mean for me at AIS Solutions, as well as how it may impact our clients as we do their Bookkeeping and Part-Time Controllership.
I’m sharing some of these feeds below, as there really is no point in me saying that same thing that someone else has already said so well Smiley Face
The first one is from he Oakville Chamber of Commerce.  They included a document with an analysis on the budget from the Canadian Chamber of Commerce.

The document offers a detailed summary of what the budget contains, breaking down the different areas that it covers and what changes are involved in each one. While it’s rich in information, it’s also only four pages long, making it a relatively short read and allowing you to quickly and easily understand how the budget may impact your business.
On a more local level, we also received an email from the Burlington Chamber of Commerce, in which they included their own perspective on wins for business:
Public infrastructure
We particularly welcome the money for major infrastructure projects. Nobody cuts a ribbon when a new sewer pipe is installed. It is just not a dramatic moment. But thousands of Canadians idling in their cars because of traffic congestion or bridge delays can tell us what investments in infrastructure can mean to our quality of life and productivity. There is a strong link between the investment in core public infrastructure, such as roads, transit and utilities, and the productivity performance of all sectors of the Canadian economy. Equally clear are the consequences of underinvestment. The success and competitiveness of Canadian business depends on modern and efficient infrastructure.

Measures to better match young workers with the skills needs of business are also a step in the right direction. We have made skills our top priority for the last three years and will continue to work closely with the government and the entire business community. In this regard, we also welcome the government’s initiative on First Nations education, announced prior to the budget.
Remote Communities
We have been advocating the important role remote communities can play in our economy. The money allocated to bringing internet access to more Canadians is a positive step forward for northern businesses.
All in all, I’ve gotten some great information on the budget and how it may impact me. I’m excited about what seems to be a push to help employers find better people with the New Canada Job Grant starting April 1 and Interest Free Loans for Apprentices and Funding for new internships.  It’s always good to see our government investing in our workforce.  And if you travel a lot, whether for business or pleasure, you’ll be pleased to see that they are finally talking about passing Legislation to cap wholesale domestic wireless roaming costs.
If you’re interested in learning more about it, here is a link to a downloadable pdf version of The Budget in Brief
What do you think? What are your thoughts on the budget and how it will impact businesses? Your thoughts are always welcome, so let me know!
Copyright: pogonici / 123RF Stock Photo

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Juliet Aurora

Juliet Aurora is the CEO of AIS Solutions and Co-Founder of Kninja Knetwork. Through both of these businesses she fulfills her mission to Educate and Empower those around her. In 2017, her firm was named Intuit's Global Firm of the Future, the first time the title has ever been awarded to any firm outside of the US. She has also has been named as one of the Top 50 Women in Accounting, one of the Top 50 Cloud Accountants and one of the Top 10 Canadian Influencers in the Bookkeeping Industry. Her passion for education is channeled through the Intuit Trainer Writer Network, hosting Kninja Knowledge Webinars and most recently, developing a Cloud Accounting Course for the next generation of accounting professionals.


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