Xero

Eighteen per cent of respondents said they currently share their online banking username and password with an accountant, bookkeeper, employee or software tool. Twenty-two per cent said they had done so at some point.

The data points to continued pressure on small businesses as they contend with weaker sales and longer waits for invoices to be paid.

Canadian small business sales fell 4.0% in the quarter to March 2026, though March posted 1.0% growth, Xero said amid cash flow pressures.

Canadian small business sales growth dropped 4.1% year-over-year (y/y), the largest quarterly decline in sales since the September quarter 2020, falling well below the long-term series average of 4.5% y/y. 

Owners spend an average of nine hours a week feeling stressed, concerned or worried about their business, with financial management cited as a key pressure point.

According to the report, across all regions, most Canadians intend to include small businesses in their holiday shopping this year, even when it costs more to do so, and 1 in 4 Canadians plan to increase their small business spending this year compared to last year. 

Small businesses continue to experience declining sales and worsening late payment delays.