Canada Have Too Much Business

¶ … Canada have too much business law? Would we be better off with less regulation? Small businesses in Canada often complain that existing business regulations are needlessly stringent. It is sometimes argued that it is unjust that smaller enterprises must often comply with laws that were designed to protect consumers from the power of larger entities, as in the case of stricter accounting regulations intended to prevent fraud (Regulation in Canada, CGA, 2011). The additional bookkeeping costs can be financially burdensome for small-to-mid-sized organizations.

But in the wake of the current world banking crisis, it is also important to remember that Canadian banks were some of the few institutions to garner praise for showing restraint in terms of their lending practices. "Canadian banks have emerged from the financial crisis in good shape relative to global peers, having accepted no bailouts and remaining mostly profitable throughout" ("Canada regulator warns new bank rules are coming," Reuters, 2010).

This was seen as the fruits of a system that enforced far more regulation and oversight over banking and other business activities, including accounting and lending practices. "Canada's successful regulatory regime has been noted around the world, with requests for [Canadian ministers] to speak to international financial conferences more than quadrupling since the financial crisis" ("Canada regulator warns new bank rules are coming," Reuters, 2010).

Although individual legislative acts may frustrate some business, overall the general international attitude towards the Canadian regulatory system of business has been one of praise, rather than censure. Canadian regulation on commerce seems to be forward-thinking, rather than needlessly cumbersome. This can be also seen in Canada's greater concern with protecting the environment, when compared with its neighbor to the south. "Canada has approved the Kyoto international treaty on climate change," mandating mandate a 30% reduction in vehicle emissions of greenhouse gases by 2016, unlike the U.S. (Stoffer 2004).

As calls for greater concern about environmentalism are on the rise, Canada has shown itself to be a first-mover. While some individual U.S. states have passed equally strict regulations upon emissions (such as California) Canada's stance on environmentalism has often put the U.S. To shame.

Canada also has some of the most stringent regulations protecting foreign workers: "Under the new rules, which were published in the Canada Gazette, the government's official publication, employers who are found to have provided wages, working conditions or an occupation that was not substantially the same as what was offered in the original job offer will be banned from hiring any foreign workers for two years" (Gurzu 2010).

This was seen as an important step in protecting foreign workers who often do not have adequate knowledge of their rights under Canadian law to take a stand against their employers if they are exploited. Once again, some protested this list, despite the ability of employers to appeal their inclusion, as unduly burdensome to employers. However, most praised Canada's forward-thinking approach in dealing with the abuses that can be perpetrated against foreign workers, particularly low-wage workers.

It is always easy to find individual examples of how regulations can make life difficult for specific small or medium-sized businesses. But while new regulations always have a 'cost' for someone, overall the.