Small business owners across Canada are calling on governments to move quickly to strengthen the country’s domestic energy supply, according to new preliminary data from the Canadian Federation of Independent Business (CFIB).
An overwhelming majority (90%) of small businesses say governments should prioritize increasing Canada’s energy production and capacity to better support the economy and ensure businesses have reliable access to the energy they need to operate, said the CFIB.
“Canada cannot continue to sit on the sidelines when it comes to developing our energy potential,” said Dan Kelly, CFIB president. “It shouldn’t take supply shocks and external threats to get governments moving on projects and policies that protect our economy. The best time to start was a decade ago. The next best time is today.”
Two-thirds (68%) of small businesses say their energy costs have increased over the past year, adding pressure at a time when global events continue to create volatility in energy markets, added the CFIB.
“When fuel costs rise, the entire supply chain feels it, and there aren’t many small business owners who can absorb a prolonged spike in gas prices,” said Kelly. “Governments need to make energy infrastructure a priority and get shovels in the ground as soon as possible.”
The CFIB is Canada’s largest association of small and medium-sized businesses with 103,000 members across every industry and region.
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