"If no deal is reached between Canada Post and its union and strike action takes place in the coming weeks, the impact on small business will be significant." - CFIB
The CFIB said 32% of business owners have already shifted to suppliers/markets within Canada, 27% plan to increase their investment in Canada, while 33% intend to reduce efforts in the U.S. over the next six months.
As small firms are dealing with U.S.-Canada and Chinese tariffs, the CFIB is urging government and all parties to find a way to fix the outstanding tax matters.
The majority of small business owners support retaliatory tariffs but recognize that they will hit an even broader swath of our economy than the US tariffs themselves, says the CFIB.
The federal government’s decision to delay implementation of proposed changes to the capital gains inclusion rate provides temporary relief for taxpayers.
The CFIB says small firms – particularly those in retail – do not have the time or resources to effectively make the changes to accommodate this temporary change.
CFIB's Dan Kelly talks about how sales are still not back to normal for companies, the amount of debt taken on during the pandemic, how they are struggling with labour shortages, supply chain issues and what to expect this holiday shopping season.
Dan Kelly, President/CEO of the Canadian Federation of Independent Business, discusses the latest federal budget and its impact on small businesses in Canada.
Not enough is being done to support businesses struggling because of the pandemic and new spending will result in even more of a budget shortfall say experts.