Small Business Confidence Drops Again, as Companies Plan to Raise Prices by an Average of 3.1%: Cfib
Small business confidence has fallen for the third month in a row, according to new data from the Canadian Federation of Independent Business (CFIB), as the threat of Trump tariffs hangs over the Canadian economy. The index fell below 50 for the first time since last April, with February's reading of 49.5 being about 10 points below the historical average. This decline in optimism is affecting small businesses' long-term plans due to uncertainty and ongoing inflationary pressures.
- The growing reliance on export markets poses significant risks for Canadian small businesses, which may struggle to adapt to changing trade dynamics and tariffs imposed by global counterparts.
- What measures can government policies and regulatory bodies take to support small businesses during times of economic uncertainty and ensure they remain competitive in the face of rapidly shifting market conditions?