Bill Detail

Bill C-291 proposes to amend the Department of Industry Act to require the government to conduct a "small business impact assessment" for any new legislation or regulation that could significantly affect Canadian small businesses. This assessment would evaluate potential impacts on small businesses' access to funding, investment conditions, market participation, and overall sustainability.

The goal is to ensure that the government carefully considers how new laws and rules might help or harm the roughly 1.5 million small businesses that employ over 60% of Canadians and drive a significant portion of the economy. These assessments would need to be tabled in Parliament or published in the Canada Gazette, depending on the nature of the initiative, promoting greater accountability and consideration for the small business sector.