The Canadian Federation of Independent Business (CFIB) is awarding their Golden Scissors Award to Alberta Labour and Immigration for the Labour Mobility Act.
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Christopher Katsarov/The Globe and Mail
Most independent businesses have racked up large debts during the pandemic, according to a new report from the small-business lobby, with entrepreneurs in the hospitality and recreation sectors hit the hardest.
The Canadian Federation of Independent Business (CFIB) estimates that, based on a recent survey of its members, about seven in 10 small businesses have taken on new debt because of the pandemic, with an average debt of almost $170,000 each.
Chris Young/The Canadian Press
As the federal Finance Department busily crafts a coming budget to get Canada’s economy back up and running in 2021, Dan Kelly has an important message about the wobbly legs of the country’s small-business community.
“A strong wind could blow down some of these businesses right now.”
Mr. Kelly, president and chief executive of the Canadian Federation of Independent Business, chatted on Wednesday, the day before the publication of the small-business organization’s prebudget submission to Finance. In that document, the CFIB urges the government not to ease off on its spending on business supports – and, indeed, to extend and increase them – until we’re well clear of the pandemic and Canadian businesses have been allowed to fully reopen.