As Parliament gets set to reconvene on May 26, nearly two-thirds (62%) of small business owners are not confident that Canada’s new federal government is committed to supporting small business, according to new data from the Canadian Federation of Independent Business (CFIB).
Corinne Pohlmann
“Parliament needs to act quickly to address some unfinished business that can provide some much-needed certainty and cost relief to small business owners. It’s deeply worrisome and disappointing that the government is not planning to introduce a budget in this sitting as we need a budget to get some important tax policies across the finish line,” said Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB.
The CFIB is Canada’s largest association of small and medium-sized businesses with 100,000 members across every industry and region.
Small business owners can sign CFIB’s petition calling on the federal government to lower the costs of doing business.
The CFIB says some of the key small business priorities that are urgently needed include:
- Tariffs: Ensuring that the money collected through Canadian counter tariffs is returned quickly to affected Canadian small businesses.
- Carbon tax: Passing legislation to formally eliminate the carbon tax and returning the remaining $600 million in 2024-25 carbon tax rebates to small businesses
- Tax-free rebates: Ensuring the small business carbon tax rebates are delivered tax free as promised. Other employer rebates, such as Workers’ Compensation Boards (WCB) rebates, must also be delivered tax free to boost the economy.
- Capital gains: Delivering on the promised increase to the Lifetime Capital Gains Exemption to $1.25 million and implementing the promised Canadian Entrepreneurs’ Incentive which would lower capital gains taxes on up to $2 million following a business sale.
- Small business tax rate: Lowering the federal small business tax rate from 9% to 0% for the foreseeable future.
- Internal trade: Working with provinces to capitalize on the current momentum towards the elimination of internal trade barriers by adopting mutual recognition.
Jasmin Guénette
“Ottawa needs to move as quickly as possible on economic and tax reduction policies. The cost of doing business is already high, and tariff-fueled uncertainty could cause irreversible damage if it’s not addressed quickly. This government has a long list of outstanding promises to small business owners that it needs to address quickly. It has to provide a clear roadmap for the months ahead,” said Jasmin Guenette, CFIB’s vice-president of national affairs.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.
About Us
Canada’s Entrepreneur is the number one community media platform in Canada for entrepreneurs and business owners. Established in 2016, our podcast team has interviewed over 800 Canadian entrepreneurs from coast-to-coast. With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 250,000 + audio downloads, 50,000 + average monthly social impressions, 15,000 + engaged social followers and 120,000 newsletter subscribers. Canada’s Entrepreneur is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story
