Merchant Growth, a Vancouver-based digital financing and growth solution for Canadian small businesses, surveyed 130 business owners nationwide to explore how trade tensions are affecting operations, pricing, hiring plans, and what policy support they want from the next government.
Key Findings:
Negative impact: More than half (57%) of the small businesses surveyed said they’re being negatively impacted by the U.S. tariffs and Canada’s counter tariffs.
Layoffs: About 1 in 4 (29%) of small businesses have made changes to their workforce and/or hiring plans as a result of U.S. tariffs and Canada’s counter-tariffs.
Cost increases: Among those who experienced tariff-related cost increases, 2 in 5 (39%) passed on cost increases to their customers.
Federal Support Measures: 38% want better access to low-interest loans; others call for tax deferrals, small biz tax breaks, and payroll relief.
The full report can be found here.
Joe Cote, Chief Growth Officer at Merchant Growth, discusses the survey’s findings.
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.
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