March 10, 2010
SAINT JOHN (CNB) - A series of free seminars will begin Tuesday, March 16, on how to use the New Brunswick Small Business Investor Tax Credit (SBITC)
The seminars are being organized by the New Brunswick Securities Commission (NBSC), Business New Brunswick, the Department of Finance and the Enterprise Network.
The sessions are called, Learning the ropes - grow your business without growing debt. They will feature local business owners explaining how they have benefited from the New Brunswick SBITC as well as other options to help companies raise capital. Department of Finance officials will be available to discuss how to apply for the tax credit.
"I am proud to be part of an initiative that will help our government offer even more guidance for our local New Brunswick investors and entrepreneurs," said Business New Brunswick Minister Victor Boudreau. "Our recent changes to the SBITC mean an increase in the maximum annual investment amount to $250,000 from $80,000 - a move we are confident will further encourage investment by New Brunswick residents in New Brunswick small businesses."
The SBITC encourages investment by New Brunswickers in New Brunswick small businesses by providing a 30-per-cent non-refundable personal income tax credit of up to $75,000 per year (for investments of up to $250,000 per investor) to investors who invest in eligible small businesses in the province.
"We are pleased to offer these sessions in co-operation with other agencies throughout the province," said Rick Hancox, executive director, NBSC. "Learning the Ropes is a capital markets development initiative that helps New Brunswick companies become aware of the options available to obtain access to capital and grow their business."
The sessions will take place:
Those interested in attending are asked to register in advance for the session either by going online; by calling the NBSC at 1-866-933-2222; or by e-mail, firstname.lastname@example.org.
As an independent provincial Crown corporation, the NBSC oversees the capital markets in New Brunswick and regulates those that sell or manage securities. The NBSC is funded by regulatory fees paid of those operating in the investment industry, including public companies, mutual funds and more than 7,000 registered individuals and firms.
MEDIA CONTACTS: Michelle Robichaud, communications, New Brunswick Securities Commission, 506-643-7045; Ashley Bursey, communications, Business New Brunswick, 506-453-2694.