GNB Strengthening Access to Capital for New Brunswick Companies

By Jeff White, FCPA, CA, ICDD
President & CEO, New Brunswick Innovation Foundation

In a recent blog, I explored why venture capital-backed companies matter to New Brunswick’s economy. They create high-value jobs, attract investment, develop new technologies, and build the kinds of businesses that can compete on a national and global stage. 

But ambitious companies need more than strong founders and good ideas to succeed. They also need the right conditions to access capital, grow, and scale. That is why the Government of New Brunswick’s amendments to the Small Business Investor Tax Credit (SBITC) are so important.  

The changes that passed Royal Assent at the Legislature on June 12, represent a deliberate effort to strengthen one of the key ingredients required for company growth – access to capital. 

At NBIF, we often talk about three ingredients (three C’s) that ambitious companies need to scale: capital, customers, and capabilities. 

Growth-oriented companies play an outsized role in economic development. They create high-value jobs, attract outside investment, commercialize new technologies, and generate the kind of economic activity that strengthens New Brunswick’s long-term prosperity. 

New Brunswick has a growing pool of talented people and an increasing number of organizations willing to adopt and champion homegrown solutions. The SBITC changes strengthen the capital side of that equation, making it easier for founders to raise investment, while giving investors more opportunities to participate in the growth of New Brunswick companies. 

For founders, that means more opportunities to secure the capital required to move faster, hire earlier, and pursue larger markets. It provides greater confidence to invest in growth and build companies that can compete well beyond New Brunswick. 

For investors, it creates additional opportunities to support local businesses, while participating in the long-term value those companies create. 

At its core, these changes strengthen access to growth capital, helping companies hire, expand, and scale.  

At NBIF, we see the impact of thoughtful policy every day. When founders have access to capital, companies grow faster. When companies grow faster, they create jobs, attract talent, and generate economic activity that benefits communities across the province. 

We were pleased to provide input as these changes were developed and to contribute to a conversation focused on strengthening New Brunswick’s long-term economic competitiveness. 

These amendments send a clear signal that New Brunswick is serious about supporting company growth and attracting investment.

Creating the conditions for ambitious companies to start, grow, and scale is one of the most effective ways to strengthen our economy over the long term. This legislation represents another positive step in that direction. 

To learn more about the Government of New Brunswick’s SBITC, click here.