Industry Department research found rising prices are the biggest concern for small business owners..According to Blacklock’s Reporter, the Privy Council's surveys found Canadians want tax cuts because the cost of living is increasing..Asked, “What are the biggest challenges facing your business?” 50% of small business owners named inflation. .“Those most likely to rate the cost of goods and services as their biggest challenge included businesses with two to four employees,” said the Industry Department report Canadian Digital Adoption Program..The researchers found businesses of all sizes, even those with up to 500 workers, were mainly worried about rising prices..“When asked about the three biggest challenges currently facing their business, the most common responses included the costs of goods and services, increasing profitability, hiring and employee retention and marketing or building a customer base,” said the report..The Industry Department commissioned a study by Environics Research for $169,689. Findings from the study were based on questionnaires completed by 1,011 business owners across Canada..Only 22% rated their business’ financial health as “excellent.” A tenth said business was “poor” or “very poor.”.A business survey released on May 11 from the Privy Council showed widespread support for tax cuts to help with increasing prices..“Several thought greater efforts needed to be taken to assist Canadians with the perceived rising cost of living at present,” said the research Continuous Qualitative Data Collection of Canadians’ Views..“It was felt almost all goods and services had become considerably more expensive over the past year and many households were currently struggling to make ends meet financially,” said Canadians’ Views. .“A few felt the federal government should consider tax relief for low and middle-income Canadians facing financial challenges at present.”.“A small number also suggested the Bank of Canada should consider pausing further interest rate increases, believing these were beginning to have a detrimental impact on the ability of Canadians to continue to meet their debt obligations,” said the report..The next interest rate announcement from the Bank of Canada is scheduled for Sept. 6..“Asked whether they had changed their purchasing behaviour in recent months, many indicated they were now paying far more attention to sales and had made efforts to buy non-brand name items whenever possible,” said the report. .“A number also commented they had scaled back on non-essential activities such as travel, entertainment and recreational activities.”.The Strategic Counsel led focus groups as part of a $2.4 million contract, the results of which were documented in the report Canadians’ Views. Though dated March 10, the report was only released to the public on Tuesday.
Industry Department research found rising prices are the biggest concern for small business owners..According to Blacklock’s Reporter, the Privy Council's surveys found Canadians want tax cuts because the cost of living is increasing..Asked, “What are the biggest challenges facing your business?” 50% of small business owners named inflation. .“Those most likely to rate the cost of goods and services as their biggest challenge included businesses with two to four employees,” said the Industry Department report Canadian Digital Adoption Program..The researchers found businesses of all sizes, even those with up to 500 workers, were mainly worried about rising prices..“When asked about the three biggest challenges currently facing their business, the most common responses included the costs of goods and services, increasing profitability, hiring and employee retention and marketing or building a customer base,” said the report..The Industry Department commissioned a study by Environics Research for $169,689. Findings from the study were based on questionnaires completed by 1,011 business owners across Canada..Only 22% rated their business’ financial health as “excellent.” A tenth said business was “poor” or “very poor.”.A business survey released on May 11 from the Privy Council showed widespread support for tax cuts to help with increasing prices..“Several thought greater efforts needed to be taken to assist Canadians with the perceived rising cost of living at present,” said the research Continuous Qualitative Data Collection of Canadians’ Views..“It was felt almost all goods and services had become considerably more expensive over the past year and many households were currently struggling to make ends meet financially,” said Canadians’ Views. .“A few felt the federal government should consider tax relief for low and middle-income Canadians facing financial challenges at present.”.“A small number also suggested the Bank of Canada should consider pausing further interest rate increases, believing these were beginning to have a detrimental impact on the ability of Canadians to continue to meet their debt obligations,” said the report..The next interest rate announcement from the Bank of Canada is scheduled for Sept. 6..“Asked whether they had changed their purchasing behaviour in recent months, many indicated they were now paying far more attention to sales and had made efforts to buy non-brand name items whenever possible,” said the report. .“A number also commented they had scaled back on non-essential activities such as travel, entertainment and recreational activities.”.The Strategic Counsel led focus groups as part of a $2.4 million contract, the results of which were documented in the report Canadians’ Views. Though dated March 10, the report was only released to the public on Tuesday.
