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Vast Majority of Small Firms in Canada Don't Feel Supported by the Government, Says CFIB

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Nearly three in four (73%) of small firms say they don't feel supported by the Canadian federal government, and the spring session did little to change that, according to the Canadian Federation of Independent Business (CFIB).

While the spring economic update contained a few positive measures, such as a reduction in Canada Pension Plan (CPP) premiums and the Employee Ownership Trust tax exemption being made permanent, it didn't do much to improve small business conditions, noted CFIB on Monday.

Most (58%) small firms continue to feel pressure from rising fuel costs, with taxes squeezing margins for nearly half (48%), it stated.

Four in 10 also say economic/political uncertainty and other operating costs are making it difficult to do business.

CFIB urges the government to return in the fall with a real focus on Main Street, starting with reducing the federal small business tax rate from 9% to 6%.

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