Budget Boosts Small Businesses

March 4, 2014

THE province has upped the ante to encourage Manitobans to invest in local growing businesses.
In this week's budget, the province announced that the Small Business Venture Capital Tax Credit will rise to 45 per cent from 30 per cent and the maximum amount one company can raise with tax creditable investments doubles to $10 million from $5 million.

Librestream Technologies, a Winnipeg company that develops collaborative mobile video technologies, has raised $5 million using the tax credit in the past.

Kerry Thacher, Librestream's CEO, applauds the move to broaden the program's scope.


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"The facts of life in Manitoba are that people who are trying to raise venture money have to go to high-net-worth individuals and angels because there is no traditional venture capital here," Thacher said