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Mar 15, 2023

CFIB Seeks Support For Small Business

The Canadian Federation of Independent Business (CFIB) is calling on the federal government to use the upcoming budget to support small businesses and foster economic growth. This includes helping businesses deal with their COVID-related debt, keeping business costs down, reducing red tape, and addressing labour shortages. As of February, 57 per cent of small businesses have not repaid their pandemic-related debt, and only 48 per cent have seen their sales return to pre-pandemic levels. They are struggling with rising costs on almost every line of their budgets including tax and regulatory costs, fuel and energy costs, wages, insurance, and product input, says CFIB. The organization wants to see the government extend repayment deadlines, pause carbon pricing, lower the business tax rate, and create a pathway to permanent residency for lower-skilled temporary workers.

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