The Canadian Federation of Independent Business is urging the federal government to strengthen support for entrepreneurs by reducing the federal small business corporate tax rate and increasing the income threshold for the Small Business Deduction. The call comes as several provinces have recently introduced tax relief measures for small businesses. Ontario, Quebec and Newfoundland and Labrador announced plans to lower their small business tax rates this Spring, while Prince Edward Island and Nova Scotia have already reduced rates and expanded eligibility thresholds. CFIB notes that the federal small business tax rate has remained at nine percent since 2019, while provincial rates now range from zero percent in Manitoba to 2.5 percent in most other provinces. The organization is advocating for Ottawa to lower the federal rate to six percent and raise the current $500,000 income threshold, which it says should exceed $700,000 to keep pace with inflation. Industry Committee recommendations have suggested increasing the threshold to $1 million. The business group also challenges criticism of the Small Business Deduction, arguing that concerns about it discouraging growth are largely unfounded. CFIB research found that only about 0.4 percent of businesses claiming the deduction operate near the threshold in a way that might influence growth decisions. CFIB argues that the deduction helps small firms reinvest, create jobs, and manage rising costs at a time when entrepreneurship, investment, and business creation in Canada are under pressure. (Canadian Federation of Independent Business – www.cfib.ca)……….
Aegis Brands Inc. has announced that Steven Pelton will be stepping down as President and CEO and Director after seven years leading the company through a period of operational transformation and financial recovery. The Board of Directors has initiated a formal search process for the company’s next CEO. Pelton will remain with the company after his successor is appointed to ensure a seamless leadership transition. He and his family will remain significant shareholders of Aegis Brands and continue to strongly support the company’s future direction. Aegis Brands owns and operates the St. Louis Bar & Grill brand and holds the master franchise for the Sweet Jesus ice cream brand in Canada. (Aegis Brands Inc. – www.aegisbrands.ca)……….
Comztar Commercial Properties has officially broken ground on its newest industrial development at 80 Frenette Ave. in the Caledonia Industrial Park in Moncton in New Brunswick. The new 67,000 square foot tilt-up concrete facility is designed for today’s warehousing, logistics, distribution, and light manufacturing users and will offer flexible leasing options from approximately 20,000 square feet up to 67,000 square feet. Occupancy anticipated in Q1 2027. (Comztar Commercial Properties – www.comztar.com)……..
WOWorks, the St Petersburg, Florida-based parent company of Saladworks, Frutta Bowls, Garbanzo Mediterranean Fresh, The Simple Greek, Barberitos and Zoup! Eatery has announced the appointment industry veteran James Walker as Chief Growth Officer and the promotion of Nolan Woods to COO. These strategic appointments are pivotal to the company’s ongoing franchise growth strategy and operational expansion across its portfolio of six health-focused restaurant brands. Bringing over 30 years of hospitality and retail leadership experience, Walker will oversee franchise growth initiatives across the portfolio, focusing on strategic market expansion and franchise recruitment. Currently serving as Senior Vice President of Operations at WOWorks, in his new role as COO, Woods will lead operations and training initiatives across all WOWorks brands, with a focus on franchise operations, company operations, training and development, and guest service. (WOWorks – www.woworksusa.com)………
At L’Oréal Canada, Stéphane Bérubé has been appointed President and CEO, becoming the first Canadian to lead the organization in Canada. He succeeds An Verhulst-Santos, who, after a five-year mandate in Montreal, is appointed non-executive Chairwoman of L’Oréal Brazil, a first for the group. Having started in 2002 as Brand Director for Maybelline New York Canada, Bérubé subsequently held key strategic positions, notably as General Manager of L’Oréal Paris in Canada, before being appointed Chief Marketing Officer of the Canadian subsidiary in 2014. After a successful tenure as CMO for Western Europe, he returned to Canada in 2019 to lead the Consumer Products Division. (L’Oreal Canada – www.loreal.ca)………….
No doubt you are on your way to the Toronto Congress Centre for RCCSTORE26, Canada’s largest retail event in which retailers explore the industry’s challenges. For the next two days, June 2nd & 3rd, you and over 2000 retail decision-makers from large and small organizations are there to discuss, network and inspire. Don’t miss the opportunity. We’ll see you there………….