Richmond Hill, Canada - June 5, 2024 – The Hong Kong Entrepreneurs Chamber of Commerce(HKECC) attended a Small Business Roundtable on June 3 in Richmond Hill, addressing critical issues facing small businesses in Canada. The event featured key discussions on cashflow challenges, difficulties in obtaining loans, job creation, and the need for expedited immigration application processing. The roundtable was attended by notable figures including MP Andrew Scheer and MP Arpan Khanna. Participants at the roundtable emphasized the importance of fostering economic growth and supporting small businesses. Conservative ideologies were discussed, highlighting the significance of economic expansion, direct involvement in childcare decisions, and transparency and accountability in government spending. The rising concerns about auto theft and break-ins were also addressed.The roundtable concluded with the formulation of a comprehensive action plan to tackle these challenges. The following action items were proposed:
Expand Banking Services: Follow up on expanding banking services between Canada and Hong Kong to facilitate fund transfers and access to mortgages for small businesses.
Speed Up Credential Recognition: Investigate the acceleration of credential recognition processes and introduce a "blue seal test" for skilled immigrants.
Encourage Investment: Consider programs to encourage more investment and provide financing options for small business startups beyond conventional banking.
Review Bail System: Conduct a review of bail system changes and increase inspections at ports to address the rising crime rates.
Improve Government Services: Enhance customer service orientation at government departments such as the Canada Revenue Agency (CRA) and work on reducing processing times.
Highlight on Immigration and Hong Kong Issues
A significant part of the discussion focused on the backlog and inefficiencies within theImmigration, Refugees, and Citizenship Canada (IRCC) system. With nearly 2.2 million cases in backlog, the slow processing times are hindering entrepreneurs who wish to invest in Canada and causing delays in family reunifications.
The participants stressed the importance of streamlining the immigration process to attract and retain skilled individuals and investors from regions like Hong Kong. They highlighted the need for flexibility within the immigration system to accommodate individuals who possess the skills, training, and capital to contribute to Canada's economy through programs such as the Start-Up Visa (SUV).
Allan Tam, Chair of HKECC, stated, "The roundtable highlighted the pressing issues faced by small businesses in Canada. By working together and implementing these action items, we can create a more supportive and efficient environment for small businesses to thrive.Moreover, addressing the immigration backlog and making the process more efficient will help us attract the brightest minds and skilled entrepreneurs from around the world, particularly from Hong Kong."
The HKECC remains committed to addressing the challenges faced by small businesses and will continue to advocate for effective solutions.
For more information, please contact:
Allan Tam
Hong Kong Entrepreneurs Chamber of Commerce (HKECC)
Sincerely,
Allan Tam, Chair
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