KDCC Welcomes Ontario’s 2026 Budget as a Boost for Small Businesses, Housing Growth
On behalf of Northwestern Ontario’s small business sector and its members, leadership of the Kenora and District Chamber of Commerce is commending new measures to support the economic growth of our region through Ontario’s finalized 2026 Budget.
Ontario’s 2026 Budget, a $244 billion spending plan presented by Ontario Finance Minister Peter Bethlenfalvy on March 26th, includes several new incentives to support new, growing, and expanding businesses – while helping to ease costs on existing businesses, support new housing developments, and strengthen key economic sectors across the province.
Highlights include:
– Small business tax relief: a reduction of the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, providing Ontario businesses with more room to invest, grow, and absorb ongoing cost pressures.
– Housing affordability and supply measures: including the removal of the provincial portion of the HST on new homes, supported by a federal-provincial cost-sharing agreement to lower costs and support new housing developments.
– Productivity-focused incentives: including accelerated write-offs to reduce the cost of machinery and equipment.
– Supporting new business growth: including measures to help businesses grow and scale, with $9.4 million over three years to renew entrepreneurship grants for the Summer Company and Starter Company Plus programs.
– Investments in strategic economic sectors: including the creation of the new Protect Ontario Account Fund, with up to $4 billion dedicated to supporting new industries by crowding in private and pension capital.
– Post-secondary education and skills development: with $6.4 billion for post-secondary education to strengthen the talent pipeline and support research, innovation, and commercialization.
“On behalf of the Kenora and District Chamber of Commerce, we welcome Ontario’s 2026 Budget as a meaningful step toward strengthening the foundation for small business growth across Northwestern Ontario,” says KDCC President, Tim Gosnell.
“Measures like small business tax relief, investments in housing, and targeted supports for entrepreneurship and key sectors will help create the conditions our local businesses need to invest, expand, and remain competitive.”
“While challenges remain, this budget demonstrates a clear commitment to supporting economic stability and long-term growth in communities like ours,” Gosnell adds.
In a prepared release, the Ontario Chamber of Commerce commended the 2026 Ontario Budget in its efforts to prioritize economic stability and respond to the OCC’s call for meaningful tax relief for small businesses, alongside targeted measures to support investment, innovation, and productivity.
“While Ontario businesses have been resilient, they find it hard to invest amidst rising costs, trade uncertainty, and tight margins,” said Daniel Tisch, President and CEO of the Ontario Chamber of Commerce.
“Budget 2026 strikes a balance, providing stability and a path to fiscal responsibility while giving businesses welcome breathing room and support to invest, diversify, compete, and grow.”
The OCC notes moving forward, they would like to see the Ontario government continue to support new work-integrated learning opportunities and skills training, developing an employee ownership policy framework, modernize the provincial and municipal fiscal relationship, and strengthen Ontario’s culture and tourism sectors.
“Stability is essential but not sufficient,” Tisch added. “The next phase must focus on unlocking investment in productivity, fostering entrepreneurship, scaling innovation, and building a sustainable, competitive, and diversified economy.”
The province is now projecting a deficit of $13.8 billion next year and $6.1 billion the year after, with the possibility of a small surplus by 2028-2029. Ontario’s 2026 budget can be found online HERE.
