Why We Need to Open up to Innovation

Pierre Beaudoin, President of Bombardier Inc., delivered a speech to business leaders in Toronto  on Wednesday, Nov. 13, as part of the Maclean’s Thought Leadership series.  During this speech, he suggested that the taxable income and capital thresholds to qualify for the small business refundable Scientific Research and Experimental Development (SR&ED) tax credit of 35% should be raised to alleviate some of the pressure faced by pioneering SMEs.   Beaudoin believes that this would directly benefit the cash- strapped SMEs who have few options for securing the early-stage funding needed to advance their innovative ideas.