November 2007, vol. 9, no. 3 - Recent Developments

Small Business Week (Oct. 14–20, 2007)

Small Business Week celebrated the contributions of small businesses and entrepreneurs to the Canadian economy. This year's theme, "A world without boundaries, open to new markets," was used to highlight the growing opportunities for small businesses in the international market. Highlights of the week included the Business Development Bank of Canada (BDC) Youth Entrepreneur Awards, which recognize young entrepreneurs who have distinguished themselves for their business sense and innovative spirit.

The Canadian Federation of Independent Business (CFIB) separately presented an award to the Honourable Diane Ablonczy, Secretary of State (Small Business and Tourism), to acknowledge the Government of Canada's leadership in reducing paper burden.

World Bank Report: Doing Business 2008

In September of 2007, the World Bank released its annual assessment of regulations that impact business activity entitled Doing Business 2008. Canada ranked seventh out of 178 countries in terms of the overall ease of doing business, and continues to be ranked among the top ten countries in the following four areas: second place for starting a business, fourth for closing a business, fifth for protecting investors and seventh for getting credit. Canada achieved a higher ranking or a tie with the United States in five categories: starting a business, protecting investors, closing a business, getting credit and paying taxes.

For more information on the World Bank report, visit www.doingbusiness.org.

Global Value Chain Conference (Sept. 25–26, 2007)

A conference on global value chains (GVCs) was held in Ottawa. The objectives were to further understand the implications of GVCs on industries and the economy, and to clarify the role of governments in facilitating competitiveness in a globally linked value chain world.

About 275 people attended this conference, including representatives from the federal and provincial governments, academia, think tanks and the private sector, as well as delegates from the Organisation for Economic Co-operation and Development.

The conference provided a deeper understanding and appreciation for the importance and impacts of GVCs on industries and the economy. Encouraging firms, especially SMEs, to participate in GVCs is a particular challenge and policy recommendations were identified at the conference to help in this regard: raising SME awareness, improving supplier financing, protecting SME intellectual property rights, encouraging clusters and networks, simplifying compliance procedures to meet product and process standards, and promoting skills development.

More information on the Global Value Chain Conference can be found at www.ic.gc.ca.

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