25 Jan Saving Nova Scotia Businesses Money
In 2017, the Province committed to saving Nova Scotia businesses $25 million by cutting red tape and modernizing our regulatory system. I am very happy to report that over the past 18 months we have exceeded that goal, saving Nova Scotia businesses $34 million a year!
This work is not going unnoticed by the business community, Nova Scotia is being recognized nationally for its work. The Canadian Federation of Independent Business gave Nova Scotia an A grade for its work throughout 2018, up from A- last year and up from a D grade in 2015. In addition to recognition for cutting red tape, the province was also recognized for its unique partnership with HRM as well as for reducing business incorporation fees to the lowest in the country.
Here are some of the ways we’re making Nova Scotia businesses more competitive:
- allowing landlords to provide tenants with a copy of the Residential Tenancies Act electronically instead of paper ($826,000 savings)
- improving road networks and updating weight restrictions to reflect new trucking technology ($9.3 million savings)
- adapting the internal system for notifying businesses of licences, permits and approvals for activities under the Environment Act ($1 million savings)
- removing tuition and fees for technical training for apprentices often paid for by employers ($386,000 savings)
- introducing secure online messaging for businesses to interact with the Workers Compensation Board ($1.6 million savings)
- introducing the business navigator service ($3.4 million savings)
- reducing business incorporation fees to the lowest in the country ($402,900 savings)
“It’s important for Nova Scotia to have a thriving business community and an efficient regulatory system contributes to that,” said Premier Stephen McNeil. “We are committed to continuing this work that saves businesses time and money and allows entrepreneurs to focus on their business, be more competitive and help grow our economy.”