Canadian Youth Business Foundation Supports the Government of Canada’s Red Tape Reduction Commission Announcement
Toronto, ON – January 13, 2011 – The Canadian Youth Business Foundation (CYBF) applauds the federal government’s formation of the Red Tape Reduction Commission (RTRC), a commission tasked with identifying regulatory irritants and solutions to the compliance burden facing small business owners.
The Commission was announced today at a Canadian Federation of Independent Business (CFIB) press conference with Prime Minister Stephen Harper and Rob Moore, Minister of State (Small Business and Tourism) in attendance. The announcement was made in conjunction with the second annual Red Tape Awareness Week, an initiative organized by CFIB aimed at raising public awareness about the negative impact of excessive regulation.
“The creation of this Commission will enable the success of young entrepreneurs in Canada,” said Vivian Prokop, chief executive officer of the Canadian Youth Business Foundation. “Complex regulations and administrative procedures, together with excessive taxation, often discourage young people from considering entrepreneurship.”
“A commitment towards a permanent reduction of the regulatory compliance burden will help encourage the growth and prosperity of young entrepreneurs, and demonstrate the Government of Canada’s belief in entrepreneurship,” said Prokop. “Congratulations to both CFIB and the Government of Canada on this ground-breaking initiative.”
Research conducted by CFIB estimates that regulations and paper burden cost the Canadian economy $30.5 billion a year.
For more information on CFIB’s Red Tape Awareness Week visit www.cfib-fcei.ca/redtape.
For more information on the Commission, visit www.reduceredtape.gc.ca.
About CYBF – Canada’s Entrepreneur Gateway
The Canadian Youth Business Foundation (CYBF) is the ‘go to’ place for youth entrepreneurship. As a national charity, we are dedicated to growing our nation’s economy one young entrepreneur at a time. We look at character not collateral, when providing youth, age 18-34, with pre-launch coaching, business resources, start-up financing and mentoring, to help them launch and sustain a successful entrepreneurial business. www.cybf.ca.
CYBF Media Contact:
Senior Manager, Marketing and Communications, CYBF