In the 2025 federal election, Prime Minister Mark Carney and the Liberal Party secured a fourth consecutive term, emphasizing a robust agenda to support small businesses amid economic challenges, rising costs, and escalating trade tensions with the United States. Their platform, Canada Strong, laid out a series of key pledges designed to help small and medium-sized enterprises (SMEs), a critical engine of Canada’s economy.

1. $6.5 Billion Trade Impact Program To offset the impact of U.S. tariffs, the Liberals introduced a $6.5 billion support plan: $5 billion over two years to help businesses expand into new global markets, $500 million in preferred-rate loans for affected sectors, $1 billion in targeted financing for agriculture.
2. Trade Diversification & Infrastructure Investment A commitment to reduce over-reliance on U.S. trade by investing in trade-enabling infrastructure: ports, railways, and highways to facilitate global market access and job creation.
3. Expanding Global Trade Partnerships The Liberals pledged to expand trade relationships across Asia-Pacific (including ASEAN nations), Latin America, the EU, and CANZUK countries, laying the groundwork in this mandate to establish new free trade agreements and reduce export dependence on a single market.
4. Middle-Class Tax Cuts A proposed 1% cut to the lowest tax bracket
5. Eliminating Internal Trade Barriers The party committed to removing federal barriers to interprovincial trade and labor mobility, potentially unlocking up to $200 billion in GDP growth through enhanced productivity and access to new markets for Canadian businesses.
6. Workforce Development & Skilled Trades Investment Promised support includes up to $8,000 for apprenticeship training and a new $15,000 upskilling benefit for workers in priority sectors like manufacturing, green tech, and advanced industries.

These pledges come at a time when Canada’s economy is under considerable strain. GDP per capita has stagnated or declined relative to peer nations, trailing the US by nearly 20%, a gap that has widened over the last decade. Labour productivity has fallen in most provinces, even with high-performing regions like Alberta and Ontario. Tariff threats from the US and global supply chain instability add further uncertainty to Canada’s trade outlook. This backdrop makes the implementation of the Liberal small business agenda not only timely but vital.

While the commitments are ambitious, history has shown that follow-through can lag without clear accountability. Entrepreneurs don’t just need bold promises – they need action. That’s why it’s crucial that business leaders, watchdogs, and the public hold the government accountable for execution.

Given the stakes, this cannot be a partisan moment. While I do not agree with all the policies proposed by the Liberals, the objectives: trade expansion, tax relief, infrastructure investment, workforce development, are in the national interest. Conservatives, New Democrats, and other opposition members must recognize that SMEs don’t operate along party lines. They are the backbone of the Canadian economy, and in a fragile economic climate, they need certainty, support, and speed.

This is a test of leadership for all parties. Will they choose political optics, or national interest? Will they obstruct for opposition’s sake, or collaborate for the sake of Canada’s economic resilience? History will remember how our leaders responded -not to the election result, but to the economic crisis that followed. Let’s ensure they meet the moment.