FoxDoo TechnologyNorth American startups received positive news today as both the United States and Canada introduced new financial measures designed to support entrepreneurial growth.
In the United States, new legislation proposes substantially increasing startup tax deductions. Entrepreneurs could soon deduct up to $50,000 of their initial business expenses, significantly easing the early financial burden and encouraging more individuals to launch new ventures.
Canada has similarly announced plans to stimulate entrepreneurship by cutting its lowest personal income tax rate from 15% down to 14% starting July 2025. This policy will directly benefit millions of Canadians, providing greater financial flexibility for small business owners and entrepreneurs to reinvest in growth.
These measures underline both nations’ commitments to fostering innovation and stimulating economic growth through strategic support for startups.
